Checkers franchise research

Investment by format

Format-specific estimates only. Do not combine one format's minimum with another format's maximum.

Investment sourceFDD p.31 ↗

Franchise fees and ongoing costs

Franchise fee

$15,000 to $30,000 · Extracted Item 5 scalar range, not a universal minimum or maximum; formats, eligibility, discounts and waivers require original-filing review.

Royalty

4% · 4% of Net Sales, paid semi-monthly (5th and 20th); 2% of Net Sales for Non-Traditional Sites; 2026 Growth Incentive waives royalty for first 12 months, then 1%/2%/3% in years 2-4 (capped at $150,000 abatement)

Marketing contribution

2.65% (basis not captured; see original filing)

Technology fee

$190 to $370 plus taxes, quarterly ($370/quarter with optional enhanced technology services)

Other fees

Firewall fee $159/quarter; Secure payment gateway fee $19/month; Delivery and Order Ahead administration fees 2% of order price each (if elected)

Working capital (FDD Item 7)

Additional Funds - 3 Months: $50,000 - $120,000 in every format (Note 5 says pre-opening expenses $10,000-$40,000 and 3-month working capital $30,000-$60,000; remainder of note trimmed)

Fees sourceFDD p.21 ↗

Working capital is drawn from Item 7. The Investment source below locates the investment section, not an independently verified working-capital scalar.

Investment sourceFDD p.31 ↗

Franchise fee sourceFDD · page not captured ↗

Financial performance: Item 19

Item 19 captured

Yes

Metric / basis

Average and median Net Sales (with % attaining average and low/high range) for Checkers restaurants, by format, for franchised and company-owned; separate tables for Rally's, first-year restaurants, and restaurants open under 350 days. Figures here are for all franchised Checkers restaurants (Table A).

Reporting period

2025 fiscal year (52 weeks ended December 29, 2025)

Sample

320 franchised Checkers restaurants (and 115 company-owned) open at least 350 days in FY2025; excludes 12 franchised and 2 company-owned open under 350 days and 35 franchised and 1 company-owned that closed

Reported average

$1,136,589

Reported median

$1,102,416

Owner income is not captured. Gross sales and EBITDA are not owner pay. Results depend on the disclosed metric, sample and period; consult the full filing.

Item 19 performance sourceFDD p.72 ↗

Unit growth: Item 20

Reporting year

2025

Scope

franchised outlets

Starting outlets

357

Year-end outlets

332

Net change

-25

Derivation

ending minus starting outlets

Openings

12

Terminations

0

Non-renewals

0

Other closures

37

Reacquisitions

0

Transfers

42

Transfers are not closures. Net change is ending minus starting outlets for the stated scope and year, or complete openings less terminations, non-renewals, other closures and reacquisitions. Missing inputs stay unknown.

Unit growth sourceFDD p.77 ↗

SBA loan history

Loan activity

15 approvals

Activity window

FY2021-FY2026 YTD; snapshot 2026-06-30

Median SBA loan

$1,347,800

Median loan window

FY2023-FY2026 YTD through 2026-06-30

Median loan sample

6 loans

Historical charge-off share

5.45%

Cohort

7(a) FY2010-2019 approvals

Numerator / denominator

3 / 55

Formula

CHGOFF / (PIF + CHGOFF + EXEMPT) × 100

This is a historical loan-level share, not a franchise failure probability or location survival rate. Loan size is not total investment. Other loan statuses are excluded from the seasoned denominator. Activity combines 7(a) and 504 approvals, excluding canceled and not-funded records; this is not a rolling five-year count. FY2024-25 franchise tags are sparse after directory suspension; fewer tagged loans do not establish brand decline. Recent charge-off cohorts are immature.

SBA loans sourceSBA data · Jun 30, 2026 ↗

Median loan amounts are financing context, not startup cost. The median window is separate from the seasoned charge-off cohort.

Median SBA loan sourceSBA data · Jun 30, 2026 ↗

Questions before you invest

How much does Checkers franchise cost?

Modular design drive-thru: $449,000 to $1,915,000; Conversion: $619,000 to $1,492,000; Site built: $767,500 to $1,705,000; Gas/convenience and endcap strip-center: $309,000 to $1,134,250; In-line in high density market: $651,500 to $1,055,250; Non-traditional, Walmart, or sports arena: $214,000 to $736,000 These are format-specific estimates, not a guaranteed cash requirement. Franchise fee: $15,000 to $30,000 · Extracted Item 5 scalar range, not a universal minimum or maximum; formats, eligibility, discounts and waivers require original-filing review..

Investment sourceFDD p.31 ↗

Franchise fee sourceFDD · page not captured ↗

How much do Checkers owners make?

Owner income is not captured. Gross sales and EBITDA are not owner pay. Item 19 metric: Average and median Net Sales (with % attaining average and low/high range) for Checkers restaurants, by format, for franchised and company-owned; separate tables for Rally's, first-year restaurants, and restaurants open under 350 days. Figures here are for all franchised Checkers restaurants (Table A).. Sample: 320 franchised Checkers restaurants (and 115 company-owned) open at least 350 days in FY2025; excludes 12 franchised and 2 company-owned open under 350 days and 35 franchised and 1 company-owned that closed. Period: 2025 fiscal year (52 weeks ended December 29, 2025).

Item 19 performance sourceFDD p.72 ↗

What's the SBA charge-off rate for Checkers?

5.45%; numerator / denominator: 3 / 55. Historical 7(a) FY2010-2019 approvals; CHGOFF / (PIF + CHGOFF + EXEMPT) × 100, snapshot 2026-06-30. This is not a franchise failure probability. Median SBA loan: $1,347,800; window: FY2023-FY2026 YTD through 2026-06-30; sample: 6 loans. Median financing is not total investment.

SBA loans sourceSBA data · Jun 30, 2026 ↗

Median SBA loan sourceSBA data · Jun 30, 2026 ↗