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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