Restaurant Franchise Disclosure Document Analysis — Top 20 Brands
RestaurantData.com analyzes and integrates data from 125 Franchise Disclosure Documents (FDDs) for clients.
The data below covers the Top 20 restaurant franchise brands by total franchised location count, including franchised vs. company-owned unit splits, Average Unit Volume (AUV), service type, cuisine, and geographic footprint across U.S. states and Canadian provinces.
📊 AUV (Average Annual Unit Sales Volume) is expressed in $ millions. In most cases, AUV figures have been supplied directly by the brand. Pizza Hut is listed as Casual/Family due to a significant number of sit-down locations. Texas Roadhouse (#120 on the full list) and Golden Corral (#65) are not displayed here.
Franchised vs. Company-Owned Units — Top 10 Brands
The chart below illustrates the split between franchised and company-owned units for the ten largest restaurant brands by total location count. The data makes clear the overwhelming reliance on franchising across the industry’s biggest names.
| # | Brand | Franchised Units | Company-Owned Units | Total Units | % Franchised |
|---|---|---|---|---|---|
| 1 | Subway | 20,133 | 0 | 20,133 | 100.0% |
| 2 | McDonald’s | 12,772 | 685 | 13,457 | 94.9% |
| 3 | Dunkin’ Donuts | 8,265 | 32 | 8,297 | 99.6% |
| 4 | Taco Bell Traditional | 7,197 | 483 | 7,680 | 93.7% |
| 5 | Burger King | 6,640 | 138 | 6,778 | 98.0% |
| 6 | Domino’s | 6,600 | 288 | 6,888 | 95.8% |
| 7 | Wendy’s | 5,627 | 403 | 6,030 | 93.3% |
| 8 | Pizza Hut | 5,300 | 7 | 5,307 | 99.9% |
| 9 | KFC | 3,715 | 46 | 3,761 | 98.8% |
| 10 | Little Caesars | 3,642 | 575 | 4,217 | 86.4% |
* Unit counts sourced from Franchise Disclosure Documents analyzed by RestaurantData.com. Franchised % calculated from total units. Data reflects most recently available FDD filings.
Top 20 Restaurant Franchise Brands — Full FDD Data
The full Top 20 table below includes franchised unit counts, company-owned units, total locations, AUV estimates, service type, cuisine category, HQ state, franchise percentage, and geographic footprint across U.S. states and Canadian provinces.
Source: RestaurantData.com FDD Analysis · 125 brands tracked · Listed in descending order of franchised location count
| # | Brand / Concept | Franchised | Company | Total | AUV ($M) | Service Type | Cuisine | HQ | % Fran. | % Co. | States / Provs. |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Subway | 20,133 | 0 | 20,133 | 0.5 | Quick Serve | Sandwich | CT | 100.0% | 0.0% | 65 |
| 2 | McDonald’s | 12,772 | 685 | 13,457 | 4.0 | Quick Serve | Burger | IL | 94.9% | 5.1% | 64 |
| 3 | Dunkin’ Donuts | 8,265 | 32 | 8,297 | 1.6 | Quick Serve | Donut | MA | 99.6% | 0.4% | 47 |
| 4 | Taco Bell Traditional | 7,197 | 483 | 7,680 | 1.3 | Quick Serve | Mexican/Latin | CA | 93.7% | 6.3% | 58 |
| 5 | Burger King | 6,640 | 138 | 6,778 | 1.3 | Quick Serve | Burger | ON | 98.0% | 2.0% | 61 |
| 6 | Domino’s | 6,600 | 288 | 6,888 | 1.3 | Quick Serve | Pizza | MI | 95.8% | 4.2% | 64 |
| 7 | Wendy’s | 5,627 | 403 | 6,030 | 2.3 | Quick Serve | Burger | OH | 93.3% | 6.7% | 63 |
| 8 | Pizza Hut | 5,300 | 7 | 5,307 | 1.0 | Casual/Family | Pizza | KY | 99.9% | 0.1% | 63 |
| 9 | KFC | 3,715 | 46 | 3,761 | 1.4 | Quick Serve | Chicken | KY | 98.8% | 1.2% | 64 |
| 10 | Little Caesars | 3,642 | 575 | 4,217 | 0.8 | Quick Serve | Pizza | MI | 86.4% | 13.6% | 61 |
| 11 | Sonic Drive In | 3,195 | 326 | 3,521 | 1.6 | Quick Serve | Burger | OK | 90.7% | 9.3% | 47 |
| 12 | Popeyes Louisiana Kitchen | 3,035 | 41 | 3,076 | 2.0 | Quick Serve | Chicken | ON | 98.7% | 1.3% | 56 |
| 13 | Papa John’s | 2,689 | 522 | 3,211 | 1.2 | Quick Serve | Pizza | KY | 83.7% | 16.3% | 60 |
| 14 | Jersey Mike’s | 2,647 | 28 | 2,675 | 1.3 | Fast Casual | Sandwich | NJ | 99.0% | 1.0% | 53 |
| 15 | Jimmy John’s | 2,604 | 40 | 2,644 | 1.0 | Fast Casual | Sandwich | IL | 98.5% | 1.5% | 45 |
| 16 | Chick-fil-A | 2,494 | 58 | 2,552 | 9.2 | Fast Casual | Chicken | GA | 97.7% | 2.3% | 51 |
| 17 | Arby’s | 2,316 | 1,097 | 3,413 | 1.3 | Quick Serve | Sandwich | GA | 67.9% | 32.1% | 56 |
| 18 | Jack in the Box | 2,043 | 142 | 2,185 | 2.0 | Quick Serve | Burger | CA | 93.5% | 6.5% | 23 |
| 19 | Dairy Queen Grill & Chill | 1,967 | 2 | 1,969 | 1.4 | Quick Serve | Ice Cream/Yogurt | MN | 99.9% | 0.1% | 59 |
* AUV = Average Annual Unit Sales Volume in $ millions, as reported by the brand in their FDD. % Franchised and % Company calculated from total units. Arby’s company-owned % shown in red as a notable outlier vs. the franchise-heavy norm. Pizza Hut listed as Casual/Family due to a significant number of sit-down locations. HQ state reflects state of incorporation or principal offices as reported in the FDD.
Key Discussion Points
The Dominance of Franchising: The data makes clear that most top brands rely overwhelmingly on franchising, with franchised units forming the majority of total locations across virtually every brand in the Top 20. Subway operates at 100% franchised with zero company-owned units.
Variation in Strategy: While most brands prioritize franchising, some like Arby’s show a notably higher proportion of company-owned units at 32.1% — well above the norm. Texas Roadhouse (#120 on the full list, not displayed here) similarly skews toward company ownership.
Hybrid Approaches: Several brands exhibit a balanced model with meaningful splits between franchised and company-owned units — such as Golden Corral (#65 on the full list, not displayed here) and Papa John’s at 83.7% franchised.
AUV Standout: Chick-fil-A reports the highest AUV by far at $9.2 million per unit annually — more than double any other brand in the Top 20 — reflecting its industry-leading sales volumes despite a more selective expansion strategy.
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