Stories from the front line of the Franchise world via Franchise Disclosure Documents

Franchise Disclosure Documents: Multi-Year Growth Summary (2021–2025)

This report provides a snapshot of recent Franchise Disclosure Document (FDD) activity and the growth trajectories of several prominent franchise brands. It highlights chains experiencing rapid expansion—such as Graze Craze, Dave’s Hot Chicken, Playa Bowls, and The Great Greek Mediterranean Grill. Others, like Capriotti’s and Dippin’ Dots, demonstrate more modest or steady performance. Overall, the data shows how systems evolved between 2021 and 2025, including unit growth, franchisee activity, closures, pipelines, and overall momentum.

CAPRIOTTI’S SANDWICH SHOP

Capriotti’s grew 39% from year-end 2021 to 2023. In 2024, they maintained their 153 locations. Franchisees saw a net decline of 5 stores while corporate gained 5, keeping the three-year growth rate at 39%.

GRAZE CRAZE

In June 2022, Graze Craze had 13 US stores. By June 30, 2025, they operated 90 units—a 592% increase. Their FDD lists 98 franchisees who have signed but not yet opened, plus 33 future store addresses. Rapid growth is expected to continue.

DAVES HOT CHICKEN

Roark Capital acquired a majority stake in June 2025. Dave’s Hot Chicken grew from 36 locations at the end of 2021 to 244 units at the end of 2024 (a 578% increase). The chain is expected to add approximately 100 stores in 2025.

DIPPIN DOTS

Dippin Dots increased franchised stores from 231 to 260 between 2021–2024 (a 12.5% increase). They operate no company-owned locations. Acquired by J&J Snack Foods Corp in 2022, the brand also reports 22,000 points of presence.

PLAYA BOWLS

Playa Bowls ended 2021 with 128 locations and has added new stores every year since: +35 (2022), +52 (2023), +73 (2024). Growth remains primarily franchised, with only one company-owned store added annually.

THE GREAT GREEK MEDITERRANEAN GRILL

The Great Greek Mediterranean Grill expanded from 15 to 69 franchised units between 2021–2024, a 360% increase (overall 267% total growth). With many “coming soon” listings, the chain could reach 91 locations.

KEKE’S BREAKFAST CAFE

Keke’s Breakfast Cafe has increased its franchised store count each year for the past three years. At year-end 2024, they operated 55 franchised locations (about 22% growth). Their website currently lists 7 coming-soon units.