In 2024, we conducted an in-depth analysis of 250 franchise disclosure documents (FDD’s), focusing on concepts with 50 or more year-end locations (173 brands). Our study leveraged data from 2022, 2023, and 2024 to compile a comprehensive ranking of the top 100 franchise brands by their 2024 year-end location counts. See the Top 30 below.
📊 This analysis is based on 2021–2023 FDD data from documents filed in 2024. FDDs for the 2024 fiscal year (released in 2025) will be incorporated in our next update.
Key Findings
Steady but Modest Growth
The top 100 franchise chains posted a modest year-over-year (YOY) increase of just over 1% and a slightly higher 2% growth over the two-year period. Surprisingly, the 10 largest chains experienced a slight decline, collectively losing 445 units.
Smaller Chains Show Stronger Growth
While larger chains faced slower expansion or contraction, smaller franchises demonstrated impressive growth.
- The 25 concepts with the fewest locations at the end of 2021 expanded by 14% over the two-year period.
- The 50 smallest chains increased their footprint by 9.6%.
- In contrast, the 50 largest chains grew by just 1.2%.
Big Gainers vs. Big Decliners
There were more franchises enjoying notable growth than those facing significant declines:
- 12 franchises achieved gains exceeding 20%.
- Conversely, only 5 chains experienced declines greater than 10%.
Standout Performers
Crumbl emerged as the growth leader, achieving a remarkable 197% expansion over two years, crossing the 1,000-location milestone. Although its rapid growth pace is stabilizing, Crumbl’s success underscores the power of innovative, high-demand concepts.
Other fast-growing brands include:
- Scooter’s Coffee
- Biggby Coffee
- Kung Fu Tea (a thriving bubble tea franchise)
- Playa Bowls
- Tropical Smoothie Cafe
Chains Facing Challenges
Huddle House faced a 10.2% decline in unit count. However, its parent company, Ascent Hospitality Management, is actively recruiting new developers, which could stabilize and reverse the trend in 2025. Four additional chains saw unit declines exceeding 10%, largely due to operational challenges.
Key Takeaways for Franchise Investors and Operators
- Top 100 Chains: Demonstrated modest growth, with larger players facing slower expansion or declines.
- Smaller Chains: Showed stronger growth potential, with some achieving double-digit percentage gains.
- Growth Leaders: Brands like Crumbl, Scooter’s Coffee, Biggby, and Kung Fu Tea are expanding rapidly.
- Struggling Chains: Brands like Huddle House are facing challenges, but strategic efforts may lead to a recovery.
Final Thoughts
This data offers crucial insights for franchise investors and operators, highlighting growth trends and areas of concern. As the franchise landscape continues to evolve, adaptability, strong brand appeal, and strategic growth execution will remain critical to long-term success.
Top 30 Fastest-Growing Restaurant Franchises
The Top 30 are displayed below. Contact us to request the entire Top 100.
Source: RestaurantData.com · Analysis of 250 FDDs · Brands with 50+ locations · Year-end location counts for 2022, 2023 & 2024
| # | Concept | Cuisine | 2022 | 2023 | 2024 | YOY | 2 Year |
|---|---|---|---|---|---|---|---|
| TOP 100 TOTALS | 160,944 | 162,655 | 164,401 | 1.07% | 2.15% | ||
| 1 | Crumbl | Snack | 326 | 689 | 970 | 40.78% | 197.55% |
| 2 | Scooter’s Coffee | Coffee/Tea | 400 | 555 | 750 | 35.14% | 87.50% |
| 3 | Playa Bowls | Asian | 128 | 163 | 216 | 32.52% | 68.75% |
| 4 | Biggby Coffee | Coffee/Tea | 281 | 334 | 383 | 14.67% | 36.30% |
| 5 | Kung Fu Tea | Coffee/Tea | 287 | 341 | 380 | 11.44% | 32.40% |
| 6 | Tropical Smoothie Cafe | Juice/Smoothie | 1,038 | 1,198 | 1,372 | 14.52% | 32.18% |
| 7 | Nothing Bundt Cakes | Bakery/Café | 424 | 475 | 559 | 17.68% | 31.84% |
| 8 | Charleys Philly Steaks | Sandwich | 593 | 672 | 761 | 13.24% | 28.33% |
| 9 | Jersey Mike’s | Sandwich | 2,091 | 2,387 | 2,675 | 12.07% | 27.93% |
| 10 | Wingstop | Chicken | 1,534 | 1,721 | 1,926 | 11.91% | 25.55% |
| 11 | Chicken Salad Chick | Chicken | 205 | 225 | 255 | 13.33% | 24.39% |
| 12 | Freddy’s Frozen Custard | Burger | 421 | 456 | 517 | 13.38% | 22.80% |
| 13 | Sbarro | Pizza | 309 | 346 | 369 | 6.65% | 19.42% |
| 14 | Habit Burger | Burger | 307 | 338 | 366 | 8.28% | 19.22% |
| 15 | Mountain Mike’s Pizza | Pizza | 246 | 265 | 279 | 5.28% | 13.41% |
| 16 | Culver’s | Burger | 837 | 892 | 944 | 5.83% | 12.78% |
| 17 | Wetzel’s Pretzels | Snack | 343 | 360 | 386 | 7.22% | 12.54% |
| 18 | Marco’s Pizza | Pizza | 1,001 | 1,066 | 1,117 | 4.78% | 11.59% |
| 19 | Popeyes Louisiana Kitchen | Chicken | 2,777 | 2,946 | 3,076 | 4.41% | 10.77% |
| 20 | Smoothie King | Juice/Smoothie | 1,051 | 1,103 | 1,152 | 4.44% | 9.61% |
| 21 | Chick-fil-A | Chicken | 2,706 | 2,836 | 2,964 | 4.51% | 9.53% |
| 22 | Mod Pizza | Pizza | 506 | 531 | 552 | 3.95% | 9.09% |
| 23 | Panda Express | Asian | 2,230 | 2,353 | 2,414 | 2.59% | 8.25% |
| 24 | Honey Baked Ham | Sandwich | 409 | 440 | 439 | -0.23% | 7.33% |
| 25 | Jet’s Pizza | Pizza | 394 | 407 | 422 | 3.69% | 7.11% |
| 26 | Texas Roadhouse | Steak | 596 | 614 | 638 | 3.91% | 7.05% |
| 27 | McAlister’s Deli | Sandwich | 505 | 524 | 539 | 2.86% | 6.73% |
| 28 | Cold Stone Creamery | Ice Cream/Yogurt | 894 | 912 | 953 | 4.50% | 6.60% |
| 29 | Dippin’ Dots | Ice Cream/Yogurt | 231 | 239 | 246 | 2.93% | 6.49% |
| 30 | Bojangles | Chicken | 773 | 788 | 813 | 3.17% | 5.17% |
| 31 | Noodles & Co | American | 448 | 460 | 470 | 2.17% | 4.91% |
* Location counts reflect year-end figures as reported in Franchise Disclosure Documents (FDDs). YOY = 2023–2024 growth. 2 Year = 2022–2024 growth. RestaurantData.com analysis of 250 FDDs across 173 brands with 50+ locations. Honey Baked Ham YOY shown in red reflecting a slight unit decline.
Want the full Top 100 Franchise Rankings?
The complete ranked list. All 100 franchise brands with 2022, 2023, and 2024 location counts plus YOY and 2-year growth rates is available to Restaurantdata clients and on request. Request the Full Top 100 →
Disclaimer: The information provided herein is for general informational purposes only and does not constitute financial, investment, or legal advice. This survey is purely informal and non-scientific, designed to gather and share general insights without any guarantee of accuracy, completeness, or reliability. Neither Restaurantdata nor any officers or employees hold any ownership interest in, or maintain any financial position with, any publicly traded companies referenced herein.