Grimaldi's vs First Watch
Franchise Comparison 2026
Both Grimaldi's and First Watch are full-service restaurants franchises. Grimaldi's requires an investment of $1.4M – $1.8M while First Watch requires $1.2M – $2.0M. 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 Grimaldi's A (Top Quintile) and First Watch A (Top Quintile).
| Metric | Grimaldi's | First Watch |
|---|---|---|
| Verdict Grade | ATop QuintileTop Quintile | ATop QuintileTop Quintile |
| Investment Range | $1.4M – $1.8M | $1.2M – $2.0M |
| Franchise Fee | $50K | $40K |
| Royalty Rate | 6.0% | 4.0% |
| Average Revenue (Item 19) | $2.9M | N/A |
| SBA Charge-Off Rate | N/A | 0.0% (12 loans) |
| Total Units | 46 | 474 |
| Unit Growth (YoY) | N/A | N/A |
| Year Began Franchising | 2019 | 2008 |
| FDD Year | 2025 | 2023 |
Investment Range
$1.4M – $1.8M
$1.2M – $2.0M
Franchise Fee
$50K
$40K
Royalty Rate
6.0%
4.0%
Average Revenue (Item 19)
$2.9M
N/A
SBA Charge-Off Rate
N/A
0.0% (12 loans)
Total Units
46
474
Unit Growth (YoY)
N/A
N/A
Year Began Franchising
2019
2008
FDD Year
2025
2023