Wayback Burgers Franchise Cost, Revenue & Review 2026
- Investment
- $256K – $850K
- Disclosed sales
- not disclosed
- SBA charge-off
- 21.1%
- on 108 loans
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Wayback Burgers is a fast-casual franchise serving cooked-to-order Angus burgers, hand-dipped shakes, and fries. Franchisees run restaurants managing food prep, counter and drive-thru service, and staffing.
FranchiseVerdict summary · 2026
A Wayback Burgers franchise requires a total initial investment of $256K – $850K, including a $35K franchise fee and an ongoing 5.0% royalty[2]. This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. SBA 7(a) loans show a 21.1% charge-off rate across 108 loans[1]. FranchiseVerdict grade: C (Average), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: medium - issued 12 to 24 months ago; a newer filing is likely on file
Evidence: strong✓ Investment (Item 7)✓ Item 19 status✓ Units and owners (Item 20)✓ SBA loan coverage✓ Litigation (Item 3)✓ Financial statements (Item 21)✓ Franchisor identityhow this is scored5 of 5 headline figures on this page cite a page of the filing.
Overview
- Investment
- $256K – $850K
- 38th pct Service Resta…
- Avg gross sales
- N/A
- Royalty
- 5.0%
- 12th pct Service Resta…
- Units
- 180
- 82nd pct Service Resta…
- SBA charge-off
- 21.1%
- % of SBA 7(a) loans not repaid · median varies by category
Quick verdict · Quick-Service Restaurants · color = vs category peers
Green = favorable by >10% vs Quick-Service Restaurants median · No shading = within ±10% · Red = unfavorable by >10% · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Bottom line
- COSTTotal investment $256K – $850K including a $35K franchise fee, 5.0% ongoing royalty.
- RETURNSThis franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that.
- RISKVerdict C (Average), verdict score 39/100 (higher is better). SBA loan charge-off rate of 21.1% across 108 loans (well above the 16% franchise average, based on all SBA 7(a) franchise lending, 2010–2025).
- GROWTHPositive: net +15 franchised outlets in the latest year (25 opened, 10 closed) (Item 20).
- GROWTHSystem growing at 22.6% CAGR over 3 years with 180 total units. Strong expansion trajectory.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Wayback Franchising LLC (formerly Jake's Franchising, LLC)
- Predecessor
- Jake's Franchising LLC (formerly Jake's Hamburgers)
- Prior franchisor entity
- CEO title
- Chief Executive Officer
- John Eucalitto
- CEO experience
- 16 yrs
- Years in role or industry
- Incorporated in
- Delaware
- HQ
- 716 South Main Street, Cheshire, CT 06410
- Auditor
- UHY LLP
- Audited financials
- Franchisor revenue
- $8.0M
- vs $9.4M prior year
Overview
About
- CEO
- John Eucalitto
- Headquarters
- CT
- Founded
- 2002
- FDD year
- 2025
- States available
- 33
Can you afford it, and what does the money buy?
Entry cost runs 14% above the typical quick-service restaurants franchise.
Source: FDD 2025 · Items 5–7
FDD Item 7 · 2025 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $35K | $35K |
| Working capital (3–6 mo) | $20K | $60K |
| Equipment, build-out, other | $201K | $755K |
| Total initial investment | $256K | $850K |
Source: Wayback Burgers 2025 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $256K – $850K
- Top 40% of category vs category
- Liquid capital req'd
- $20K – $60K
- Top 40% of category vs category
- Franchise fee
- $35K – $35K
- Middle of category vs category
- Royalty
- 5.0%
- Set by a formula · typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 7.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 5.0% of gross sales |
| Marketing / ad fund | 2.0% of gross sales |
| Training fee | $200 |
| Transfer fee | $18K |
| Renewal fee | $4K |
| Inventory (initial) | $9K – $13K |
| Total fee load | 7.0% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Wayback Burgers makes no financial performance representation in Item 19 of its FDD - a voluntary item under the FTC Franchise Rule - so no unit revenue figures are disclosed. The return models need a revenue figure to start from, and the operating costs that turn gross sales into a profit are in no FDD. Enter your own and the calculator runs on your assumptions — nothing here is modelled until you do.
Returns model · single-unit ROIC
What would one Wayback Burgers unit return on the cash you put in?
Illustrative category typicals — not sourced to any filing, survey or sample. Replace them with figures from franchisee validation calls before you rely on the output.
Unlevered ROIC · per unit
Your modelled return on total invested capital, before any debt financing.
—
An FDD discloses gross sales, not profit. We hold no sourced figure for annual revenue, COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
These models are for research and scenario planning only. Not investment advice. Actual results depend on your specific location, management, and market conditions. Consult a franchise attorney and accountant before signing any franchise agreement.
Item 19 · Source: 2025 FDD
Financial Performance
No financial performance representation
This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that.
Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Fee burden
Total ongoing fee load of 7.0% (near the Quick-Service Restaurants median).
Disclosure
This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Operator retention
System expanding at 22.6% CAGR over 3 years across 180 units — operators are staying and new ones are joining.
Source: FDD Item 19 financial performance representations and publicly filed FDD data. Past performance is not indicative of future results. Verify all figures with the franchisor and current franchisees before making any investment decision.
vs Quick-Service Restaurants medians
How Wayback Burgers Compares
Category median of published Quick-Service Restaurants brands that report the figure; the middle half spans the 25th to 75th percentile and n counts the brands behind it. Medians are used because a few very large systems pull an average far from the typical brand. Revenue is disclosed gross sales, not profit.
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 180
- Opened
- 25
- Last reporting year
- Closed
- 10
- Terminated
- 5
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 1
- Term expired, not renewed (per Item 20)
- Turnover rate
- 5.6%
- Company-owned
- 1
- Corporate units in the system
- % franchised
- 99%
- vs corporate-owned
- Net growth (3-yr)
- +22.6%
- Net unit change over 3 years
- 3-yr CAGR
- +22.6%
- Compounded over last 3 years
Last fiscal year · Item 20 exits and transfers
- Terminated
- 5
- Not renewed
- 1
- Transferred
- 6
- Reacquired
- 0
- Franchisor bought back
- Projected new
- 45
- Franchisor's next-year forecast
- Transfer rate
- 3.3%
- Owners selling to other franchisees
- Continuity rate
- 94.7%
- Units that stayed open
- Termination rate
- 3.3%
- Franchisor-initiated terminations
- Ceased ops
- 2.2%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 33 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator. Not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
Where the owners are · Item 20 owner list
137 current owners across 32 states; 11 former (terminated, transferred or not renewed) listed separately.
- CT 18
- FL 13
- CA 11
- GA 11
- DE 9
- NC 9
- NY 8
- NJ 7
- MD 5
- MS 4
- OH 4
- CO 3
- +20 more states
Counts only, from the list the franchisor prints in Item 20. Names and phone numbers are for your own due diligence and are not shown here.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 108
- Loan volume
- $30.4M
- Median loan
- $320K
- 50th percentile
- Charge-off rate
- 21.1%
- on 108 loans · rates vary by category · see methodology
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- 78.9%
- 5-yr charge-off
- 20.0%
- Loans approved 2021+
- Active lenders
- 37
- Defaults
- 12
- Typical loan rate
- 8.8%
- avg rate to borrowers
- Franchised industry avg
- 10.8%
- brand above franchise avg ↑
- Jobs supported
- 734
- 5.0 per loan
- Lender concentration
- 18%
- top lender's share
Borrower mix: 80% went to startups / new businesses, 20% to established operators
Franchise vs independent — in limited-service restaurants, franchised businesses charge off at 10.8% vs 10.0% for independents — franchising is associated with 8% higher SBA default risk in this category.
Top lenders financing Wayback Burgers franchisees
Showing 3 of 37 lenders. The full breakdown — every lender, state distribution, interest rates & risk ratings — is in the SBA Lending Report below.
Explore lender portfolios on Bank Reports or regional data on State Reports.
Lender network · 7(a) + 504
SBA Lending Report
Full lending analysis for Wayback Burgers from SBA 7(a) FOIA data.
- Principal loss rate
- 3.9%
- Avg SBA guarantee
- 73%
- Avg interest rate
- 8.78%
- Avg chargeoff amount
- $288K
- Lender concentration
- 17.8%
- Job velocity
- 5.0 per $100K
- NAICS benchmark
- 8.7%
- NAICS 722513
- Jobs supported
- 734
Top SBA lendersTop lender holds 18% of loans
| # | Lender | Loans | Volume | Default % |
|---|---|---|---|---|
| 1 | Citizens Bank | 8 | $4.0M | N/A |
| 2 | The Huntington National Bank | 6 | $1.4M | N/A |
| 3 | Stearns Bank National Association | 5 | $907K | 0.0% |
| 4 | CRF Small Business Loan Company, LLC | 4 | $570K | 0.0% |
| 5 | Manufacturers and Traders Trust Company | 2 | $375K | 0.0% |
| 6 | Montana Community Development Corp. | 2 | $250K | N/A |
| 7 | Southern Bank | 1 | $391K | N/A |
| 8 | Stone Bank | 1 | $317K | 100.0% |
| 9 | LendingClub Bank, National Association | 1 | $350K | 100.0% |
| 10 | Midland States Bank | 1 | $320K | N/A |
Geographic failure vector
| State | Loans | Defaults | Rate |
|---|---|---|---|
| PAPennsylvania | 6 | 0 | 0.0% |
| TXTexas | 6 | 2 | 100.0% |
| UTUtah | 5 | 0 | -- |
| CACalifornia | 4 | 0 | 0.0% |
| VAVirginia | 4 | 0 | 0.0% |
| SCSouth Carolina | 3 | 0 | 0.0% |
| GAGeorgia | 2 | 0 | -- |
| NJNew Jersey | 2 | 0 | -- |
| NVNevada | 2 | 0 | 0.0% |
| NYNew York | 2 | 0 | -- |
SBA 7(a) lending trend
Borrower profile
Source: SBA 7(a) + 504 FOIA loan-level data, matched by FranchiseVerdict
A 21.1% charge-off rate means roughly 1 in 5 franchisees failed to repay their SBA loan. Investigate what changed.
What could kill this investment?
SBA loans charge off at 21.1% — 32% above the 16.0% national norm, i.e. higher lender-observed risk.
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
No litigation or bankruptcy, but financial_distress flagged with a net loss of -$171,309 and razor-thin net worth of $90,361 on $8.04M revenue. No Item 19 disclosure. Two concerns stack: weak/negative financials plus no earnings disclosure.
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
No litigation is required to be disclosed in this Item.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · UHY LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- Kickbacks from required suppliers: No
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 39 / 100 verdict
- 01MINORNet loss: -$171,309
- 02MINORVery thin net worth: $90,361
- 03MINORNo Item 19 earnings disclosure
- 04MINOR180 units, 22.6% growth is a mitigant
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 7.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2025 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 20 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 2 |
| Protected territory | No |
| Exclusive territoryℹ | No |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 25 mi |
| Right of first refusalℹ | Yes |
| RoFR response window | 15 days |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 15 |
| Curable defaultsℹ | 8 |
| Mandatory arbitration | Yes |
| Arbitration location | county of our principal place of business |
| Jury trial waiver | Yes |
| Governing law | Connecticut |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation is required to be disclosed in this Item.
Items 10, 11
Training & Operations
- Classroom training
- 40 hrs
- On-the-job training
- 100 hrs
- Training location
- On-site and corporate
- Time to open
- 16 mo
- From signing to launch
- Site selection
- Franchisee selects site; franchisor approves within 30 days
- Franchisor financing
- Not offered
- Item 10
Items 5 & 11
Franchisor Support
Item 20 · call current owners
Franchisee Contacts
148 owners to call
Name · phone · city · state. Extracted from FDD Item 20
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Wayback Burgers franchise?
The total investment to open a Wayback Burgers franchise ranges from $256K – $850K, with an initial franchise fee of $35K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Wayback Burgers franchise owners earn?
Wayback Burgers makes no financial performance representation in Item 19 of its FDD - a voluntary item under the FTC Franchise Rule - so no unit revenue figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Who owns Wayback Burgers?
Wayback Burgers is franchised by Wayback Franchising LLC (formerly Jake's Franchising, LLC). Source: FDD Item 1, 2025 filing.
What is Item 19 in the Wayback Burgers FDD?
The FDD section where a franchisor may disclose financial performance of its outlets. Disclosure is optional and formats vary; figures are typically gross sales, which is revenue before expenses, not profit. FranchiseVerdict extracts these figures directly from the Wayback Burgers FDD and qualifies whose outlets they describe.
What is Wayback Burgers's franchise failure rate?
Based on SBA 7(a) loan data, Wayback Burgers has a charge-off rate of 21.1% across 108 loans, meaning 21.1% of franchise loans were charged off. Charge-off rates are one proxy for franchise risk, though they do not capture all closures. This data comes from FOIA-sourced SBA lending records.
How many Wayback Burgers franchise locations are there?
As of their most recent FDD filing, Wayback Burgers has 180 total units in the United States, including 179 franchised units and 1 company-owned units. 25 new units were opened in the latest reporting year.
Is Wayback Burgers a good franchise to buy?
FranchiseVerdict rates Wayback Burgers as a C-grade franchise with a verdict score of 39 out of 100 (higher is better). The grade is a deterministic score built from six weighted dimensions — financial health, unit economics, unit growth, scale, legal, and transparency — then calibrated against SBA loan charge-off rates and FDD age. Transparency is one of the six, so a filing that discloses less scores lower on that dimension than one that discloses more. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.
Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.
For franchisors
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Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.