Lee's Hoagie House vs Papa Ray's Pizza & Wings
Franchise Comparison 2026
Both Lee's Hoagie House and Papa Ray's Pizza & Wings are full-service restaurants franchises. Lee's Hoagie House requires an investment of $176K – $509K while Papa Ray's Pizza & Wings requires $214K – $464K. Lee's Hoagie House discloses average revenue of $432K; Papa Ray's Pizza & Wings does not report Item 19 data. FranchiseVerdict rates Lee's Hoagie House B (Above Average) and Papa Ray's Pizza & Wings F (Bottom Quintile).
| Metric | Lee's Hoagie House | Papa Ray's Pizza & Wings |
|---|---|---|
| Verdict Grade | BAbove AverageAbove Average | FBottom QuintileBottom Quintile |
| Investment Range | $176K – $509K | $214K – $464K |
| Franchise Fee | $30K | $30K |
| Royalty Rate | the greater of 5% of Gross Revenues or $200 per week | 5.0% |
| Average Revenue (Item 19) | $432K | N/A |
| SBA Charge-Off Rate | Limited data | Limited data |
| Total Units | 4 | 5 |
| Unit Growth (YoY) | N/A | N/A |
| Year Began Franchising | 2014 | 2013 |
| FDD Year | 2023 | 2025 |
Lee's Hoagie House
BAbove AverageAbove Average
Papa Ray's Pizza & Wings
FBottom QuintileBottom Quintile
Investment Range
$176K – $509K
$214K – $464K
Franchise Fee
$30K
$30K
Royalty Rate
the greater of 5% of Gross Revenues or $200 per week
5.0%
Average Revenue (Item 19)
$432K
N/A
SBA Charge-Off Rate
Limited data
Limited data
Total Units
4
5
Unit Growth (YoY)
N/A
N/A
Year Began Franchising
2014
2013
FDD Year
2023
2025