2026 FDD Item 19, p. 46
Freddy's Franchise Revenue and EBITDA (2026 FDD)
In Item 19 of its 2026 Franchise Disclosure Document, Freddy's reports average Annual Gross Receipts, all franchised restaurants of $1,859,481 (2025 fiscal year, 477 franchised restaurants open the entire 2025 fiscal year). The figures below are selected disclosures, not a substitute for reading the full Item 19.
Startup cost: a Freddy's franchise costs an estimated $1,586,334 – $2,802,000 to open (Item 7). See the full Freddy's franchise cost breakdown.
Does Freddy's Item 19 show profit or owner pay?
Partly. Besides sales, Freddy's Item 19 reports “Average EBITDA - 4 Wall, franchised End Cap and Inline restaurants” and “Average EBITDA - 4 Wall, company-owned End Cap and Inline restaurants”. Some of them cover company-owned units rather than franchised ones; the “Based on” column shows which. Each figure follows the franchisor’s own definition in Item 19, which decides which costs are deducted and whether an owner’s salary is one of them. None of them is necessarily an owner’s take-home pay.
What Freddy's discloses (Item 19)
Source: Freddy's 2026 FDD, Item 19, PDF p. 46.
| Figure | Value | Period | Based on |
|---|---|---|---|
| Average Annual Gross Receipts, all franchised restaurants | $1,859,481 | 2025 fiscal year | 477 franchised restaurants open the entire 2025 fiscal year (Item 19, PDF p. 47) |
| Median Annual Gross Receipts, all franchised restaurants | $1,820,745 | 2025 fiscal year | 477 franchised restaurants open the entire 2025 fiscal year (Item 19, PDF p. 47) |
| Average Annual Gross Receipts, franchised Stand Alone Drive-thru restaurants | $1,868,226 | 2025 fiscal year | 435 franchised stand-alone drive-thru restaurants open the entire year (Item 19, PDF p. 47) |
| Average Annual Gross Receipts, franchised End Cap Drive-thru restaurants | $1,798,407 | 2025 fiscal year | 39 franchised end-cap drive-thru restaurants open the entire year (Item 19, PDF p. 47) |
| Average Annual Gross Receipts, franchised Inline No Drive-thru restaurants | $1,385,497 | 2025 fiscal year | 3 franchised in-line restaurants open the entire year (Item 19, PDF p. 47) |
| Average Annual Gross Receipts, company-owned restaurants | $2,370,951 | 2025 fiscal year | 35 company-owned restaurants open the entire year (Item 19, PDF p. 47) |
| Average EBITDA - 4 Wall, franchised End Cap and Inline restaurants | $178,469 | 2025 fiscal year | 42 franchised end-cap and in-line restaurants open the entire year that provided profit and loss statements (Item 19, PDF p. 50) |
| EBITDA - 4 Wall as a share of Gross Receipts, franchised End Cap and Inline restaurants | 10.1% | 2025 fiscal year | 42 franchised end-cap and in-line restaurants (Item 19, PDF p. 50) |
| Average EBITDA - 4 Wall, company-owned End Cap and Inline restaurants | $511,164 | 2025 fiscal year | 7 company-owned end-cap and in-line restaurants open the entire year (Item 19, PDF p. 51) |
Item 19 sample and definitions
Item 19 (PDF pages 46-57) reports 2025 fiscal-year Gross Receipts by facility type for 35 company-owned and 477 franchised restaurants open the whole year. The introduction on PDF page 46 says 475 franchised restaurants, while Tables 3, 4, 5 and 7 count 477. The tables exclude restaurants not open all year, 19 franchised restaurants that closed in 2025 and 23 non-traditional restaurants. Table 4 prints the in-line franchised count that met or exceeded the average as "3 (33%)" for a group of 3, where Table 3 prints "1 (33%)". Tables 10 and 11 (PDF pages 50-51) give average revenue, expenses and "EBITDA - 4 Wall" only for end-cap and in-line restaurants: 42 franchised restaurants that provided profit and loss statements (14 did not) and 7 company-owned. Note 11 defines 4 Wall EBITDA as earnings before interest, taxes, depreciation and amortization, excluding above-restaurant management expenses; note 7 says labor excludes owners' draws. Stand-alone restaurants have sales figures only. Franchised figures come from unaudited franchisee reports.
How to interpret Freddy's Item 19 figures and sample limits · What Item 19 does and does not show about owner pay.
A source check placed this record on review hold. Automatic fee estimates are withheld until the outstanding issues are resolved. Reported sales are not owner income.
Scope of these figures: The selected Freddy's disclosures above retain their recorded periods and samples. The lead figure covers 477 franchised restaurants open the entire 2025 fiscal year. They do not establish take-home owner income or the results of a new outlet. Read the linked Item 19 for the franchisor's definitions and exclusions.
Full Freddy's franchise cost breakdown · Payback calculator (enter your own assumptions)
Sources
Freddy's, L.L.C. Franchise Disclosure Document, issued April 30, 2026, as filed with the Minnesota Commerce (CARDS). Read the source FDD PDF. How to get this FDD yourself.
- Item 5: cited PDF p. 11
- Item 6: cited PDF p. 13
- Item 7: cited PDF p. 18
- Item 19: cited PDF p. 46
- Item 20: cited PDF p. 63
- Agreement term (Item 17): cited PDF p. 41
Page references for Freddy's use the PDF viewer's digital page count, not printed page headers. Some viewers download the document instead of opening the referenced page.
If the state document viewer does not open, use Minnesota Commerce's public filing instructions to look up the filing by franchisor name and document date.
Document & verification changelog
- November 3, 2026: Provisional publication approved per owner directive: Owner authorized provisional publication on November 3, 2026. The FDD's investment totals and Item 19 sample counts conflict; the sourceReview hold remains and this record is not independently verified.
- November 3, 2026: Initial cost profile published from the 2026 Franchise Disclosure Document (issued April 30, 2026).
- October 29, 2026: Source review hold recorded. Unresolved corrections are listed in this source section.
- October 29, 2026: Drafted from the April 30, 2026 Clean FDD filed in Minnesota: cover, Item 1, Item 5, all 21 Item 6 rows, every Item 7 row and total for the three formats, Item 11 opening time, Item 17 term, Item 19 Tables 1-11 and Item 20 Tables 1-4.