Highlights
- Every week, 10.0% of gross sales goes to the franchisor before rent, food or labor: royalty 6% of Gross Sales, advertising Up to 4% of Gross Sales (Currently 2%).p.16
- Opening one unit is estimated at $927,850 to $1,375,750, including a $25,000 initial fee.p.20
- Five Guys makes no financial performance representation: the filing gives no unit revenue, cost or profit figures, and no one selling the franchise may quote any.p.53
- The system went from 1,477 outlets at the start of 2023 to 1,583 at the end of 2025, a net gain of 106.p.54
- In 2025, closures of all kinds equalled 1.3% of the outlets open at the start of the year.
- Item 3 discloses 1 matter.p.14
Tools, from this filing's numbers
What Five Guys takes off the top
Royalty 6% of Gross Sales plus advertising Up to 4% of Gross Sales (Currently 2%), applied to your own sales estimate. The rates are the filing's; the sales are yours.
Five Guys discloses no unit revenue, so start from a number you believe.
Cash you would need to open
The filing's Item 7 range, $927,850 to $1,375,750, is an estimate for one unit including only its first months. Slide between the low and high cases and add the months of runway you want beyond that.
Monthly operating cash is taken as one-twelfth of your weekly-sales figure above times 52, a placeholder for rent, labor and food until you have your own budget.
Where the units went in 2025
Every outlet that opened, and every one that left, drawn from Item 20 Table 3 to scale.p.59
Total outlets, 2022 to 2025
Compare Five Guys with another brand
Side by side, every figure cited.
Fees (Items 5 and 6)
| Initial franchise fee, standard | $25,000 | p.15 |
| Royalty | 6% of Gross Sales | p.16 |
| Advertising fund | Up to 4% of Gross Sales (Currently 2%) | p.16 |
| Technology fee | held for review |
The filing lists every recurring and conditional fee in Item 6. The report carries all of them.
Estimated initial investment (Item 7)
| Expenditure | Low | High | |
|---|---|---|---|
| Franchise Fee | $25,000 | $25,000 | p.19 |
| Leasehold Improvements | $500,000 | $750,000 | p.19 |
| Lease Payments and other rental expenses | $7,500 | $25,000 | p.19 |
| Furniture, Fixtures, Equipment and Decor | $300,000 | $400,000 | p.19 |
| Signage | $20,000 | $40,000 | p.19 |
| Initial Inventory | $10,000 | $15,000 | p.19 |
| Architectural/ Engineering | $15,000 | $30,000 | p.19 |
| POS Systems | $20,000 | $35,000 | p.19 |
| Travel, lodging and meals for initial training | $100 | $5,000 | p.20 |
| Business Supplies | $4,000 | $8,500 | p.20 |
| Business licenses, permits, utility deposits, etc. (for first year) | $5,000 | $15,000 | p.20 |
| Delivery and catering expenses | $500 | $1,000 | p.20 |
| Insurance deposits and premiums | $750 | $1,250 | p.20 |
| Additional Funds for first 3 months | $20,000 | $25,000 | p.20 |
| Total | $927,850 | $1,375,750 | p.20 |
Revenue (Item 19)
Five Guys makes no financial performance representation in this filing. The franchisor publishes no unit sales, costs or profits in the document, and no one selling you the franchise may quote numbers outside it.p.53
Units (Item 20)
| Type | Year | Start | End | Net | |
|---|---|---|---|---|---|
| franchised | 2023 | 899 | 924 | 25 | p.54 |
| company owned | 2023 | 578 | 597 | 19 | p.54 |
| total | 2023 | 1,477 | 1,521 | 44 | p.54 |
| franchised | 2024 | 924 | 945 | 21 | p.54 |
| company owned | 2024 | 597 | 613 | 16 | p.54 |
| total | 2024 | 1,521 | 1,558 | 37 | p.54 |
| franchised | 2025 | 945 | 970 | 25 | p.54 |
| company owned | 2025 | 613 | 613 | 0 | p.54 |
| total | 2025 | 1,558 | 1,583 | 25 | p.54 |
Openings and closures, system totals (Table 3)
| Year | Start | Opened | Terminated | Non-renewed | Reacquired | Ceased, other | End | |
|---|---|---|---|---|---|---|---|---|
| 2023 | 899 | 36 | 0 | 0 | 0 | 11 | 924 | p.59 |
| 2024 | 924 | 35 | 0 | 0 | 0 | 14 | 945 | p.59 |
| 2025 | 945 | 37 | 0 | 0 | 0 | 12 | 970 | p.59 |
Litigation (Item 3)
1 pending case described.p.14 0 cases brought by franchisees or former franchisees.p.14 Counts are of distinct matters as the filing describes them; the report carries each one in plain words.
Scorecard
Rank among the brands on this site that report the figure, on each list's own direction. No blended grade. How the lists work.
| Cost to open | $927,850 | 56 of 74 |
| Royalty plus ad fund | 10.0% | 36 of 59 |
| Three-year unit growth | 7.2% | 38 of 75 |
| Closure rate, 2025 | 1.3% | 52 of 71, 1 = most |
| Discloses unit revenue | no | |
| Litigation disclosed | 1 | 15 of 68, 1 = most |
Source
Wisconsin Department of Financial Institutions franchise filing 642272, effective 8/19/2026, expires 8/19/2027. Extracted 2026-09-04 by two independent readers; only figures both agreed on, whose quoted words appear on the cited page, are shown. How this works.