Papa John's Pizza vs Penn Station, Inc.
Franchise Comparison 2026
Both Papa John's Pizza and Penn Station, Inc. are full-service restaurants franchises. Papa John's Pizza requires an investment of $281K – $890K while Penn Station, Inc. requires $441K – $820K. In terms of revenue, Papa John's Pizza reports higher average unit revenue at $1.1M. Note: Includes company-owned outlets; Covers a partial period, not a full year. On SBA loan performance, Penn Station, Inc. has a lower charge-off rate (2.0%) compared to Papa John's Pizza (19.6%). FranchiseVerdict rates Papa John's Pizza A (Strongest tier) and Penn Station, Inc. A (Strongest tier).
| Metric | Papa John's Pizza | Penn Station, Inc. |
|---|---|---|
| Verdict Grade | AStrongest tierStrongest tier | AStrongest tierStrongest tier |
| Investment Range | $281K – $890K | $441K – $820K |
| Franchise Fee | $25K | $25K |
| Royalty Rate | 5.0% | Tiered monthly royalty on net sales: 0-2% on net sales <$30,000 (0% during 5-yr abatement window, else 2%); 3% on $30,000-$35,000; 4% on $35,000-$40,000; 5% on $40,000-$45,000; 6% on $45,000-$50,000; 7% on $50,000-$55,000; 8% on net sales >$55,000 (monthly tiers, "Current Royalty Rates") |
| Average Revenue (Item 19) | $1.1MIncl. company outlets | $820K |
| SBA Charge-Off Rate | 19.6% (190 loans) | 2.0% (50 loans) |
| Total Units | 3,294 | 322 |
| Unit Growth (YoY) | N/A | N/A |
| Year Began Franchising | 2021 | 1987 |
| FDD Year | 2026 | N/A |
Investment Range
$281K – $890K
$441K – $820K
Franchise Fee
$25K
$25K
Royalty Rate
5.0%
Tiered monthly royalty on net sales: 0-2% on net sales <$30,000 (0% during 5-yr abatement window, else 2%); 3% on $30,000-$35,000; 4% on $35,000-$40,000; 5% on $40,000-$45,000; 6% on $45,000-$50,000; 7% on $50,000-$55,000; 8% on net sales >$55,000 (monthly tiers, "Current Royalty Rates")
Average Revenue (Item 19)
$1.1MIncl. company outlets
$820K
SBA Charge-Off Rate
19.6% (190 loans)
2.0% (50 loans)
Total Units
3,294
322
Unit Growth (YoY)
N/A
N/A
Year Began Franchising
2021
1987
FDD Year
2026
N/A