Is First Watch or Johnny Rockets cheaper to open?

First Watch costs $1,210,150–$2,028,800 and Johnny Rockets costs $517,300–$2,667,900 to open (FDD Item 7). Johnny Rockets has the lower entry cost.

Which is the better franchise, First Watch or Johnny Rockets?

FranchiseVerdict grades First Watch A and Johnny Rockets D, from FDD Items 5–7, 19–21 and SBA loan performance. See the full side-by-side above.

First Watch vs Johnny Rockets

Franchise Comparison 2026

Both First Watch and Johnny Rockets are full-service restaurants franchises. First Watch requires an investment of $1.2M – $2.0M while Johnny Rockets requires $517K – $2.7M. Johnny Rockets discloses average revenue of $1.6M; First Watch makes no financial performance representation in its Item 19, which is voluntary under the FTC Franchise Rule. Note: Reported as net sales, not gross sales. Johnny Rockets has SBA lending data on file with a 41.2% charge-off rate. FranchiseVerdict rates First Watch A (Strongest tier) and Johnny Rockets D (Below average).

Metric	First Watch	Johnny Rockets
Verdict Grade	AStrongest tier	DBelow average
Investment Range	$1.2M – $2.0M	$517K – $2.7M
Franchise Fee	$40K	$50K
Royalty Rate	4.0%	6.0%
Average Revenue (Item 19)	N/ANo Item 19 representation	$1.6M
SBA Charge-Off Rate	Limited data	41.2% (39 loans)
Total Units	474	100
Unit Growth (YoY)	+14 units	-2 units
Year Began Franchising	2008	1987
FDD Year	2023	2025