Top 100 Restaurant Franchisors: 2022-2025 U.S. Outlet Growth Analysis
By RestaurantData | Published July 2026
RestaurantData reviewed newly available 2026 Franchise Disclosure Documents to compare the largest U.S. restaurant franchise systems from year-end 2022 through year-end 2025. The analysis uses total system outlets reported in Item 20, including franchised and company-owned restaurants.
Why this report is being published in 2026: The completed year-end 2025 figures analyzed here are disclosed in Franchise Disclosure Documents issued during the 2026 filing cycle. These records were not broadly available at the end of 2025. RestaurantData assembled and standardized the newly released Item 20 outlet tables after the corresponding filings became available.
The 100 systems in this report increased from 159,020 U.S. outlets at year-end 2022 to 164,280 at year-end 2025. The combined total rose each year while individual systems followed different development paths.
This is new 2026 research based on the latest available year-end 2025 FDD outlet disclosures. The publication year and operating year differ because franchisors generally issue updated disclosure documents after the reporting year has ended.
The report compares system scale, net additions, percentage growth and rank movement. Location change is presented as a multi-year operating record and not as a measure of profitability, franchisee satisfaction or brand quality.
On this page: Key Findings · Full Top 100 Table · Fastest Growth · Largest Net Additions · Rank Movement · Item 20 Source Data · Four-Year Trends · Methodology · FAQ
Key Findings
The top 100 systems added 5,260 net locations over three years. Combined location counts rose 3.31% from 2022 through 2025.
Newer growth systems produced some of the largest percentage gains. 7 Brew, Dave’s Hot Chicken, Playa Bowls, Tous les Jours and Teriyaki Madness all expanded sharply from smaller starting bases.
Several established brands also added substantial scale. Dunkin’, Chick-fil-A, Jersey Mike’s, Wingstop and Tropical Smoothie Café each recorded meaningful multi-year gains.
Rank movement shows how the franchise landscape is changing. Some companies entered higher tiers of the top 100 as they added locations and passed longer-established systems.
Top 100 Restaurant Franchisors by U.S. System Outlets
The complete ranking is based on year-end 2025 U.S. system outlets reported in Item 20. It includes annual totals from 2022 through 2025, one-year movement, two-year movement, three-year movement and rank change from 2022.
| 2025 Rank | Restaurant System | YE 2022 | YE 2023 | YE 2024 | YE 2025 | YOY | 2-Year | 3-Year | Rank Change |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Subway | 20,576 | 20,133 | 19,502 | 18,773 | -3.74% | -6.76% | -8.76% | No change |
| 2 | McDonald’s | 13,455 | 13,457 | 13,559 | 13,706 | 1.08% | 1.85% | 1.87% | No change |
| 3 | Dunkin’ | 8,118 | 8,297 | 8,499 | 8,780 | 3.31% | 5.82% | 8.15% | No change |
| 4 | Taco Bell | 7,759 | 7,917 | 8,085 | 8,233 | 1.83% | 3.99% | 6.11% | No change |
| 5 | Domino’s | 6,724 | 6,888 | 7,043 | 7,210 | 2.37% | 4.67% | 7.23% | Up 1 |
| 6 | Burger King | 7,042 | 6,778 | 6,701 | 6,650 | -0.76% | -1.89% | -5.57% | Down 1 |
| 7 | Pizza Hut | 6,606 | 6,622 | 6,567 | 6,272 | -4.49% | -5.29% | -5.06% | No change |
| 8 | Wendy’s | 5,994 | 6,030 | 5,933 | 5,969 | 0.61% | -1.01% | -0.42% | No change |
| 9 | Little Caesars | 4,173 | 4,218 | 4,281 | 4,374 | 2.17% | 3.70% | 4.82% | No change |
| 10 | KFC | 3,918 | 3,791 | 3,666 | 3,519 | -4.01% | -7.17% | -10.18% | No change |
| 11 | Sonic Drive-In | 3,546 | 3,521 | 3,461 | 3,412 | -1.42% | -3.10% | -3.78% | No change |
| 12 | Papa Johns | 3,180 | 3,220 | 3,291 | 3,294 | 0.09% | 2.30% | 3.58% | Up 1 |
| 13 | Chick-fil-A | 2,806 | 2,964 | 3,109 | 3,287 | 5.73% | 10.90% | 17.14% | Up 2 |
| 14 | Arby’s | 3,415 | 3,413 | 3,365 | 3,265 | -2.97% | -4.34% | -4.39% | Down 2 |
| 15 | Popeyes Louisiana Kitchen | 2,946 | 3,076 | 3,177 | 3,229 | 1.64% | 4.97% | 9.61% | Down 1 |
| 16 | Jersey Mike’s | 2,387 | 2,675 | 2,989 | 3,227 | 7.96% | 20.64% | 35.19% | Up 2 |
| 17 | Jimmy John’s | 2,637 | 2,644 | 2,689 | 2,777 | 3.27% | 5.03% | 5.31% | No change |
| 18 | Dairy Queen | 2,756 | 2,720 | 2,698 | 2,730 | 1.19% | 0.37% | -0.94% | Down 2 |
| 19 | Panda Express | 2,353 | 2,413 | 2,502 | 2,607 | 4.20% | 8.04% | 10.79% | No change |
| 20 | Wingstop | 1,721 | 1,926 | 2,204 | 2,586 | 17.33% | 34.27% | 50.26% | Up 2 |
| 21 | Panera Bread | 2,094 | 2,151 | 2,185 | 2,214 | 1.33% | 2.93% | 5.73% | No change |
| 22 | Jack in the Box | 2,180 | 2,185 | 2,190 | 2,136 | -2.47% | -2.24% | -2.02% | Down 2 |
| 23 | IHOP | 1,683 | 1,703 | 1,703 | 1,693 | -0.59% | -0.59% | 0.59% | Up 1 |
| 24 | Tropical Smoothie Café | 1,198 | 1,372 | 1,515 | 1,651 | 8.98% | 20.34% | 37.81% | Up 4 |
| 25 | Hardee’s | 1,707 | 1,598 | 1,571 | 1,485 | -5.47% | -7.07% | -13.01% | Down 2 |
| 26 | Applebee’s | 1,575 | 1,542 | 1,507 | 1,475 | -2.12% | -4.35% | -6.35% | Down 1 |
| 27 | Buffalo Wild Wings | 1,230 | 1,264 | 1,323 | 1,397 | 5.59% | 10.52% | 13.58% | No change |
| 28 | Cinnabon | 958 | 974 | 1,030 | 1,338 | 29.90% | 37.37% | 39.67% | Up 9 |
| 29 | Firehouse Subs | 1,187 | 1,209 | 1,248 | 1,291 | 3.45% | 6.78% | 8.76% | No change |
| 30 | Denny’s | 1,446 | 1,407 | 1,334 | 1,274 | -4.50% | -9.45% | -11.89% | Down 4 |
| 31 | Auntie Anne’s | 1,146 | 1,167 | 1,193 | 1,247 | 4.53% | 6.86% | 8.81% | No change |
| 32 | Smoothie King | 1,103 | 1,152 | 1,201 | 1,242 | 3.41% | 7.81% | 12.60% | No change |
| 33 | Marco’s Pizza | 1,063 | 1,114 | 1,159 | 1,184 | 2.16% | 6.28% | 11.38% | Up 1 |
| 34 | Einstein Bros. Bagels | 1,021 | 1,003 | 1,041 | 1,124 | 7.97% | 12.06% | 10.09% | Up 1 |
| 35 | Crumbl | 691 | 972 | 1,059 | 1,101 | 3.97% | 13.27% | 59.33% | Up 10 |
| 36 | Culver’s | 892 | 944 | 997 | 1,041 | 4.41% | 10.28% | 16.70% | Up 4 |
| 37 | Papa Murphy’s | 1,168 | 1,127 | 1,044 | 1,014 | -2.87% | -10.03% | -13.18% | Down 7 |
| 38 | Zaxby’s | 922 | 941 | 969 | 1,005 | 3.72% | 6.80% | 9.00% | Up 1 |
| 39 | Baskin-Robbins | 1,001 | 978 | 976 | 967 | -0.92% | -1.12% | -3.40% | Down 3 |
| 40 | Chester’s | 1,081 | 1,002 | 994 | 918 | -7.65% | -8.38% | -15.08% | Down 7 |
| 41 | Scooter’s Coffee | 555 | 750 | 849 | 906 | 6.71% | 20.80% | 63.24% | Up 9 |
| 42 | Church’s Chicken | 925 | 900 | 873 | 885 | 1.37% | -1.67% | -4.32% | Down 4 |
| 43 | Bojangles | 792 | 817 | 830 | 867 | 4.46% | 6.12% | 9.47% | Down 1 |
| 44 | Charleys Philly Steaks | 672 | 761 | 813 | 836 | 2.83% | 9.86% | 24.40% | Up 2 |
| 45 | Qdoba | 733 | 747 | 777 | 827 | 6.44% | 10.71% | 12.82% | Down 1 |
| 46 | Checkers & Rally’s | 810 | 786 | 755 | 719 | -4.77% | -8.52% | -11.23% | Down 5 |
| 47 | Jamba | 738 | 734 | 727 | 710 | -2.34% | -3.27% | -3.79% | Down 4 |
| 48 | Tim Hortons | 636 | 642 | 663 | 693 | 4.52% | 7.94% | 8.96% | No change |
| 49 | 7 Brew | 40 | 180 | 321 | 602 | 87.54% | 234.44% | 1405.00% | Up 51 |
| 50 | Freddy’s Frozen Custard | 456 | 517 | 550 | 580 | 5.45% | 12.19% | 27.19% | Up 9 |
| 51 | McAlister’s Deli | 524 | 539 | 560 | 572 | 2.14% | 6.12% | 9.16% | Up 2 |
| 52 | Moe’s Southwest Grill | 637 | 612 | 596 | 568 | -4.70% | -7.19% | -10.83% | Down 5 |
| 53 | Captain D’s | 535 | 540 | 530 | 518 | -2.26% | -4.07% | -3.18% | Down 2 |
| 54 | El Pollo Loco | 490 | 495 | 498 | 503 | 1.00% | 1.62% | 2.65% | Up 1 |
| 55 | Caribou Coffee | 484 | 480 | 487 | 494 | 1.44% | 2.92% | 2.07% | Up 1 |
| 56 | Long John Silver’s | 589 | 539 | 502 | 479 | -4.58% | -11.13% | -18.68% | Down 7 |
| 57 | Jet’s Pizza | 407 | 422 | 450 | 474 | 5.33% | 12.32% | 16.46% | Up 5 |
| 58 | Potbelly | 429 | 425 | 444 | 470 | 5.86% | 10.59% | 9.56% | Up 3 |
| 59 | Red Robin | 499 | 496 | 478 | 464 | -2.93% | -6.45% | -7.01% | Down 5 |
| 60 | Wetzel’s Pretzels | 360 | 387 | 426 | 458 | 7.51% | 18.35% | 27.22% | Up 5 |
| 61 | MOD Pizza | 531 | 582 | 482 | 449 | -6.85% | -22.85% | -15.44% | Down 9 |
| 62 | Honey Baked Ham | 440 | 439 | 439 | 448 | 2.05% | 2.05% | 1.82% | Down 2 |
| 63 | Noodles & Company | 460 | 460 | 463 | 423 | -8.64% | -8.04% | -8.04% | Down 5 |
| 64 | Shipley Do-Nuts | 337 | 349 | 365 | 393 | 7.67% | 12.61% | 16.62% | Up 5 |
| 65 | Sbarro | 346 | 369 | 371 | 387 | 4.31% | 4.88% | 11.85% | Up 1 |
| 66 | Steak ‘n Shake | 479 | 436 | 406 | 387 | -4.68% | -11.24% | -19.21% | Down 9 |
| 67 | The Habit Burger & Grill | 338 | 366 | 377 | 383 | 1.59% | 4.64% | 13.31% | Up 1 |
| 68 | Playa Bowls | 163 | 216 | 291 | 372 | 27.84% | 72.22% | 128.22% | Up 22 |
| 69 | Carvel | 328 | 326 | 336 | 360 | 7.14% | 10.43% | 9.76% | Up 1 |
| 70 | Dave’s Hot Chicken | 92 | 163 | 238 | 358 | 50.42% | 119.63% | 289.13% | Up 28 |
| 71 | Golden Corral | 362 | 355 | 351 | 348 | -0.85% | -1.97% | -3.87% | Down 7 |
| 72 | Kung Fu Tea | 340 | 380 | 389 | 346 | -11.05% | -8.95% | 1.76% | Down 5 |
| 73 | Taco John’s | 368 | 364 | 340 | 327 | -3.82% | -10.16% | -11.14% | Down 10 |
| 74 | Chicken Salad Chick | 224 | 254 | 287 | 326 | 13.59% | 28.35% | 45.54% | Up 5 |
| 75 | Penn Station | 319 | 323 | 322 | 322 | 0.00% | -0.31% | 0.94% | Down 3 |
| 76 | Mountain Mike’s Pizza | 265 | 279 | 299 | 321 | 7.36% | 15.05% | 21.13% | Up 1 |
| 77 | Menchie’s | 303 | 296 | 295 | 296 | 0.34% | 0.00% | -2.31% | Down 4 |
| 78 | Schlotzsky’s | 328 | 317 | 308 | 294 | -4.55% | -7.26% | -10.37% | Down 7 |
| 79 | Dippin’ Dots | 239 | 248 | 261 | 259 | -0.77% | 4.44% | 8.37% | Down 1 |
| 80 | Perkins | 272 | 263 | 257 | 257 | 0.00% | -2.28% | -5.51% | Down 4 |
| 81 | Blaze Pizza | 303 | 296 | 266 | 230 | -13.53% | -22.30% | -24.09% | Down 7 |
| 82 | Bruster’s | 187 | 194 | 206 | 220 | 6.80% | 13.40% | 17.65% | Up 5 |
| 83 | Pizza Ranch | 211 | 218 | 218 | 219 | 0.46% | 0.46% | 3.79% | No change |
| 84 | Häagen-Dazs | 208 | 209 | 207 | 215 | 3.86% | 2.87% | 3.37% | No change |
| 85 | Slim Chickens | 148 | 183 | 207 | 215 | 3.86% | 17.49% | 45.27% | Up 9 |
| 86 | A&W Restaurants | 212 | 214 | 215 | 210 | -2.33% | -1.87% | -0.94% | Down 4 |
| 87 | sweetFrog | 221 | 216 | 206 | 203 | -1.46% | -6.02% | -8.14% | Down 7 |
| 88 | Teriyaki Madness | 122 | 139 | 158 | 199 | 25.95% | 43.17% | 63.11% | Up 9 |
| 89 | Peet’s Coffee | 203 | 202 | 199 | 196 | -1.51% | -2.97% | -3.45% | Down 4 |
| 90 | Hooters | 296 | 292 | 245 | 194 | -20.82% | -33.56% | -34.46% | Down 15 |
| 91 | Tous les Jours | 86 | 107 | 149 | 189 | 26.85% | 76.64% | 119.77% | Up 8 |
| 92 | The Human Bean | 145 | 158 | 177 | 188 | 6.21% | 18.99% | 29.66% | Up 4 |
| 93 | Kilwins | 149 | 164 | 172 | 187 | 8.72% | 14.02% | 25.50% | No change |
| 94 | Rosati’s Pizza | 189 | 189 | 193 | 184 | -4.66% | -2.65% | -2.65% | Down 8 |
| 95 | Wayback Burgers | 160 | 165 | 180 | 184 | 2.22% | 11.52% | 15.00% | Down 4 |
| 96 | PJ’s Coffee | 147 | 169 | 182 | 180 | -1.10% | 6.51% | 22.45% | Down 1 |
| 97 | Donatos Pizzeria | 173 | 178 | 176 | 179 | 1.70% | 0.56% | 3.47% | Down 8 |
| 98 | Smashburger | 217 | 211 | 194 | 172 | -11.34% | -18.48% | -20.74% | Down 17 |
| 99 | Black Bear Diner | 153 | 156 | 162 | 169 | 4.32% | 8.33% | 10.46% | Down 7 |
| 100 | Bruegger’s Bagel Bakery | 187 | 181 | 178 | 169 | -5.06% | -6.63% | -9.63% | Down 12 |
Fastest Multi-Year Expansion
Percentage growth highlights systems whose footprints changed most rapidly from year-end 2022 through year-end 2025. Smaller starting bases can produce larger percentage gains, so the rate should be read alongside the location totals.
| Restaurant System | YE 2022 | YE 2025 | Net Addition | 3-Year Growth |
|---|---|---|---|---|
| 7 Brew | 40 | 602 | +562 | 1405.00% |
| Dave’s Hot Chicken | 92 | 358 | +266 | 289.13% |
| Playa Bowls | 163 | 372 | +209 | 128.22% |
| Tous les Jours | 86 | 189 | +103 | 119.77% |
| Scooter’s Coffee | 555 | 906 | +351 | 63.24% |
| Teriyaki Madness | 122 | 199 | +77 | 63.11% |
| Crumbl | 691 | 1,101 | +410 | 59.33% |
| Wingstop | 1,721 | 2,586 | +865 | 50.26% |
| Chicken Salad Chick | 224 | 326 | +102 | 45.54% |
| Slim Chickens | 148 | 215 | +67 | 45.27% |
Largest Net Location Additions
Absolute additions show which systems contributed the most new locations over the three-year period. This view gives more weight to companies that expanded from an already substantial base.
Largest Net U.S. Outlet Additions, Year-End 2022 to Year-End 2025
Net change in total U.S. system outlets reported in FDD Item 20. Source: RestaurantData.
| Restaurant System | YE 2022 | YE 2025 | Net Addition | 3-Year Growth |
|---|---|---|---|---|
| Wingstop | 1,721 | 2,586 | +865 | 50.26% |
| Jersey Mike’s | 2,387 | 3,227 | +840 | 35.19% |
| Dunkin’ | 8,118 | 8,780 | +662 | 8.15% |
| 7 Brew | 40 | 602 | +562 | 1405.00% |
| Domino’s | 6,724 | 7,210 | +486 | 7.23% |
| Chick-fil-A | 2,806 | 3,287 | +481 | 17.14% |
| Taco Bell | 7,759 | 8,233 | +474 | 6.11% |
| Tropical Smoothie Café | 1,198 | 1,651 | +453 | 37.81% |
| Crumbl | 691 | 1,101 | +410 | 59.33% |
| Cinnabon | 958 | 1,338 | +380 | 39.67% |
Notable Upward Rank Movement
Rank movement compares each system’s position by total U.S. system outlets in 2022 with its position in 2025. It is not a quality score or a measure of financial performance.
| Restaurant System | 2022 Rank | 2025 Rank | Positions Gained | YE 2025 Locations |
|---|---|---|---|---|
| 7 Brew | #100 | #49 | Up 51 | 602 |
| Dave’s Hot Chicken | #98 | #70 | Up 28 | 358 |
| Playa Bowls | #90 | #68 | Up 22 | 372 |
| Crumbl | #45 | #35 | Up 10 | 1,101 |
| Cinnabon | #37 | #28 | Up 9 | 1,338 |
| Scooter’s Coffee | #50 | #41 | Up 9 | 906 |
| Freddy’s Frozen Custard | #59 | #50 | Up 9 | 580 |
| Slim Chickens | #94 | #85 | Up 9 | 215 |
| Teriyaki Madness | #97 | #88 | Up 9 | 199 |
| Tous les Jours | #99 | #91 | Up 8 | 189 |
How Item 20 Supports the Analysis
Item 20 of a Franchise Disclosure Document provides three years of outlet history for a franchise system. It reports franchised and company-owned units along with openings, closures, transfers and other changes. It also includes contact information for current and former franchisees.
Most franchisors update their FDDs annually. Many filings containing completed year-end 2025 outlet information became available from late winter through early summer 2026. RestaurantData reviewed and standardized those newly released records for this report.
FDD outlet tables generally cover the United States and U.S. territories. Public companies may report worldwide counts in Form 10-K filings. Those filings use different reporting periods, geographic scopes and definitions. This report uses U.S. system counts so the companies can be compared on the same basis. RestaurantData’s ongoing restaurant franchise FDD analysis examines these disclosures across the full annual filing cycle.
Example: Item 20 System-Wide Outlet Summary — Popeyes Louisiana Kitchen
The table reproduces the system-wide outlet summary reported in the Popeyes Louisiana Kitchen Franchise Disclosure Document issued during the 2026 filing cycle and covering operating years 2023 through 2025.
| Outlet Type | Year | Outlets at Start of Year | Outlets at End of Year | Net Change |
|---|---|---|---|---|
| Franchised | 2023 | 2,905 | 3,035 | +130 |
| 2024 | 3,035 | 3,079 | +44 | |
| 2025 | 3,079 | 3,134 | +55 | |
| Company-Owned | 2023 | 41 | 41 | 0 |
| 2024 | 41 | 98 | +57 | |
| 2025 | 98 | 95 | -3 | |
| Total Outlets | 2023 | 2,946 | 3,076 | +130 |
| 2024 | 3,076 | 3,177 | +101 | |
| 2025 | 3,177 | 3,229 | +52 |
These totals carry directly into the ranking below: Popeyes appears at rank 15 with 3,229 U.S. system outlets at year-end 2025.
What the Four-Year Record Shows
Beverage and coffee concepts continue to gain scale
7 Brew, Scooter’s Coffee, The Human Bean and PJ’s Coffee all expanded their footprints during the period. Their growth reflects continued investment in beverage-led formats, drive-through development and smaller-footprint operating models.
Chicken concepts remain active across several size tiers
Wingstop, Chick-fil-A, Dave’s Hot Chicken, Chicken Salad Chick, Slim Chickens and Popeyes all added locations. The category includes both mature national systems and younger concepts that are still building regional coverage.
Fast-casual and specialty systems are moving into higher ranks
Jersey Mike’s, Tropical Smoothie Café, Cinnabon, Playa Bowls and Tous les Jours improved their position within the top 100. Their movement shows that meaningful expansion is occurring outside the largest legacy quick-service systems.
System maturity produces different development patterns
Not every established franchisor is pursuing the same unit-growth strategy. Some systems are adding new markets. Others are concentrating on franchisee quality, remodels, unit economics, portfolio management or market optimization. Location change should therefore be interpreted as one part of a broader operating picture.
How RestaurantData Would Extend This Research
This public analysis is intentionally centered on scale and multi-year franchise development. It does not need to include every field maintained in Atlas. Adding headquarters addresses, square footage, average checks, sales estimates and other operating details to all 100 rows would make the page harder to use and would blur the purpose of the report.
Those fields are more useful inside company research. Atlas can connect a franchisor to its headquarters, parent organization, operating structure, executive contacts, franchise relationships, technology assignments and development activity. Company-specific information can then be reviewed in context rather than compressed into one oversized public table.
The same structure can later support links to individual Restaurant Enterprise Index™ profiles as those profiles are published. That would allow readers to move from the broad franchise market to deeper research on selected restaurant enterprises.
Methodology and Interpretation
RestaurantData standardized annual system-wide outlet counts from Item 20 of restaurant Franchise Disclosure Documents, including newly available filings issued during the 2026 disclosure cycle. The figures combine franchised and company-owned outlets and compare year-end totals for 2022, 2023, 2024 and 2025. Percentage changes are calculated from the published totals shown in the table. Rank movement compares each system’s 2022 position with its 2025 position.
FDDs may use different fiscal year-end dates and may define territories or outlet types differently. RestaurantData reviews the underlying disclosures before placing the figures into a common comparison. Openings, closures, transfers, acquisitions, refranchising, market exits and reporting changes can all affect annual totals.
This report is limited to U.S. system outlets and U.S. territories reported in FDDs. Global counts disclosed in public-company filings are not substituted into the ranking because SEC reports are not standardized in the same way as Item 20.
Frequently Asked Questions
What is a restaurant franchisor?
A restaurant franchisor grants franchisees the right to operate under its brand and operating system. The franchisee owns or operates the local business under the terms of a franchise agreement.
How were the Top 100 restaurant franchisors selected?
The Top 100 were ranked by total U.S. system outlets at year-end 2025. The count includes franchised and company-owned restaurants reported in Item 20.
What is Item 20 in a Franchise Disclosure Document?
Item 20 shows the growth and turnover of a franchise system. It includes three years of outlet tables covering openings, closures, transfers and changes in franchised and company-owned units. It also lists contact information for current and former franchisees.
What other important information is contained in the FDD reports?
Beyond the outlet tables and financial disclosures, FDDs contain another category of information that is often overlooked but extremely revealing: the Business Experience section (Item 2). This portion profiles the leadership behind the franchisor, and depending on how the organization is structured, it may include biographies for the Board of Directors, parent-company executives, brand-level C-suite leaders and key regional operators.
Each bio typically lists the individual’s title, name and a concise summary of their professional background. These summaries outline prior roles both within the organization and at other companies. When read carefully, they offer insight into whether the franchisor tends to promote talent internally or prefers to bring in outside leadership.
Because the Business Experience section is updated annually, it can also be scanned for year-over-year changes. Prospective franchisees often look for signs of leadership stability, while others may view new executives as evidence of a strategic shift. For companies that consistently promote from within, the FDD allows you to trace an executive’s progression through the ranks, a pattern RestaurantData examines in its research on restaurant executive changes. Conversely, when leadership is recruited externally, the bios make it possible to follow a manager’s movement across brands and industries on the path to their current role.
What is the source for restaurant location counts?
RestaurantData draws the location counts from Item 20 of each franchisor’s FDD. The system-wide outlet summary provides a structured record of franchised, company-owned and total units for annual comparison.
Why do restaurant franchise location counts change from year to year?
Systems open restaurants, close locations, enter or leave markets, acquire units, transfer ownership and revise development plans. Food costs, labor costs, operating efficiency, franchisee execution and local conditions also affect unit performance and system development.
Are company-owned restaurants included?
Yes. The report uses total system outlets and includes both franchised and company-owned restaurants. Across approximately 300 systems tracked by RestaurantData, franchisees operate about 89% of outlets and companies operate about 11%.
Why can FDD totals differ from public-company reports?
FDDs generally report U.S. outlets and U.S. territories. Public companies may report global restaurant counts in Form 10-K filings. The reporting periods, geographic scope and definitions may differ.
Does a lower outlet count mean a restaurant company is performing poorly?
No. Outlet counts do not measure profitability, unit economics, franchisee satisfaction or brand strength. A system may contract while closing weak locations, refranchising units or changing its market strategy.
When are Franchise Disclosure Documents generally issued?
Most franchisors update their FDDs annually after the close of their reporting year. Many documents containing completed year-end 2025 outlet figures became available from late winter through early summer 2026, although timing varies by company and filing requirements. This timing is why RestaurantData’s analysis of 2025 system results is being published in 2026.
Why does a report published in 2026 analyze 2025 outlet figures?
Franchise Disclosure Documents report completed historical operating periods and are generally issued after the reporting year has ended. The documents containing final year-end 2025 outlet totals were released during the 2026 filing cycle. RestaurantData assembled this report after those records became available.
How often is this report updated?
RestaurantData plans to update the report annually as new FDDs and related company records become available.
How is this report different from the Restaurant Enterprise Index™?
This report compares restaurant franchise systems by U.S. outlet count. The Restaurant Enterprise Index™ covers larger restaurant enterprises, including franchisors, franchisees, multi-concept operators and ownership groups.
How is this report different from Atlas by RestaurantData?
Atlas by RestaurantData connects locations to franchisees, franchisors, operating companies, brands, parent companies and ultimate owners. It also includes executive contacts, restaurant technology, operating characteristics and development activity.
Related RestaurantData Research
RestaurantData’s research on multi-concept restaurant operators examines companies that run two or more brands under one ownership structure. A related study identifies restaurant chains crossing expansion thresholds as they move into new size tiers. Development activity across the country is documented in the semi-annual analysis of U.S. restaurant opening patterns. Readers following the current filing season can review the early-bird results from this year’s franchisor releases.
The RestaurantData Research Center organizes the company’s reports, methodology and proprietary indexes, including the Expansion Pressure Index™.
Usage & Distribution Terms
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Preferred citation: “Source: RestaurantData.com, Top 100 Restaurant Franchisors: 2022–2025 U.S. Outlet Growth Analysis, based on 2026 FDD filings reporting year-end 2025 outlet totals, published July 2026.”
About RestaurantData
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