First Watch vs Grimaldi's
Franchise Comparison 2026
Both First Watch and Grimaldi's are full-service restaurants franchises. First Watch requires an investment of $1.2M – $2.0M while Grimaldi's requires $1.4M – $1.8M. Grimaldi's discloses average revenue of $2.9M; First Watch does not report Item 19 data. First Watch has SBA lending data on file with a 0.0% charge-off rate. FranchiseVerdict rates First Watch A (Top Quintile) and Grimaldi's A (Top Quintile).
| Metric | First Watch | Grimaldi's |
|---|---|---|
| Verdict Grade | ATop QuintileTop Quintile | ATop QuintileTop Quintile |
| Investment Range | $1.2M – $2.0M | $1.4M – $1.8M |
| Franchise Fee | $40K | $50K |
| Royalty Rate | 4.0% | 6.0% |
| Average Revenue (Item 19) | N/A | $2.9M |
| SBA Charge-Off Rate | 0.0% (12 loans) | N/A |
| Total Units | 474 | 46 |
| Unit Growth (YoY) | N/A | N/A |
| Year Began Franchising | 2008 | 2019 |
| FDD Year | 2023 | 2025 |
Investment Range
$1.2M – $2.0M
$1.4M – $1.8M
Franchise Fee
$40K
$50K
Royalty Rate
4.0%
6.0%
Average Revenue (Item 19)
N/A
$2.9M
SBA Charge-Off Rate
0.0% (12 loans)
N/A
Total Units
474
46
Unit Growth (YoY)
N/A
N/A
Year Began Franchising
2008
2019
FDD Year
2023
2025