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 safer, First Watch or Johnny Rockets?

SBA 7(a) charge-off rate is 0.0% for First Watch and 35.9% for Johnny Rockets. Lower is safer, so First Watch has the stronger loan-repayment record.

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

FranchiseVerdict grades First Watch A and Johnny Rockets F, 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 does not report Item 19 data. On SBA loan performance, First Watch has a lower charge-off rate (0.0%) compared to Johnny Rockets (35.9%). FranchiseVerdict rates First Watch A (Strongest tier) and Johnny Rockets F (Weakest tier).

Metric	First Watch	Johnny Rockets
Verdict Grade	AStrongest tierStrongest tier	FWeakest tierWeakest tier
Investment Range	$1.2M – $2.0M	$517K – $2.7M
Franchise Fee	$40K	$50K
Royalty Rate	4.0%	6.0%
Average Revenue (Item 19)	N/A	$1.6M
SBA Charge-Off Rate	0.0% (12 loans)	35.9% (39 loans)
Total Units	474	100
Unit Growth (YoY)	N/A	N/A
Year Began Franchising	2008	1987
FDD Year	2023	2025