Denny's vs Penn Station, Inc.
Franchise Comparison 2026
Both Denny's and Penn Station, Inc. are full-service restaurants franchises. Denny's requires an investment of $1.6M – $3.1M while Penn Station, Inc. requires $441K – $820K. In terms of revenue, Denny's reports higher average unit revenue at $1.9M. On SBA loan performance, Penn Station, Inc. has a lower charge-off rate (2.0%) compared to Denny's (7.5%). FranchiseVerdict rates Denny's A (Strongest tier) and Penn Station, Inc. A (Strongest tier).
| Metric | Denny's | Penn Station, Inc. |
|---|---|---|
| Verdict Grade | AStrongest tierStrongest tier | AStrongest tierStrongest tier |
| Investment Range | $1.6M – $3.1M | $441K – $820K |
| Franchise Fee | $30K | $25K |
| Royalty Rate | 4.5% | Tiered monthly royalty on net sales: 0-2% on net sales <$30,000 (0% during 5-yr abatement window, else 2%); 3% on $30,000-$35,000; 4% on $35,000-$40,000; 5% on $40,000-$45,000; 6% on $45,000-$50,000; 7% on $50,000-$55,000; 8% on net sales >$55,000 (monthly tiers, "Current Royalty Rates") |
| Average Revenue (Item 19) | $1.9M | $820K |
| SBA Charge-Off Rate | 7.5% (283 loans) | 2.0% (50 loans) |
| Total Units | 1,274 | 322 |
| Unit Growth (YoY) | N/A | N/A |
| Year Began Franchising | 1994 | 1987 |
| FDD Year | 2025 | N/A |
Investment Range
$1.6M – $3.1M
$441K – $820K
Franchise Fee
$30K
$25K
Royalty Rate
4.5%
Tiered monthly royalty on net sales: 0-2% on net sales <$30,000 (0% during 5-yr abatement window, else 2%); 3% on $30,000-$35,000; 4% on $35,000-$40,000; 5% on $40,000-$45,000; 6% on $45,000-$50,000; 7% on $50,000-$55,000; 8% on net sales >$55,000 (monthly tiers, "Current Royalty Rates")
Average Revenue (Item 19)
$1.9M
$820K
SBA Charge-Off Rate
7.5% (283 loans)
2.0% (50 loans)
Total Units
1,274
322
Unit Growth (YoY)
N/A
N/A
Year Began Franchising
1994
1987
FDD Year
2025
N/A