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We read the franchise's disclosure document and send you a cited report of its costs, fees, sales and closures. In 3 days, by email.

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Sample: Noodles & Company 2026 PDF

Noodles & Co.

Summary

FDD issued April 20, 2026 · Sample
Startup cost$1.06–1.71M
Fees9% + $12k
Avg unit sales$1.32M
Yearly cash flow at average salesIllustrative, not a forecast
Royalty + tech fee only$77.6k
All fees today$24.9k
Marketing at 5.5% cap$5.1k

Item 6 · Ongoing fees

FDD pp. 10–13
9% of sales+ $12,000/yr tech fee
  • Royalty5%
  • Brand fund New, April 20261.75%
  • Local marketing1.0%
  • Marketing admin1.25%
  • Technology fee$12,000/yr

Marketing fees are capped at 5.5% combined.

Item 7 · Startup cost

FDD p. 15
$1.06–1.71Mestimated initial investment
Low end$1,061,500
High end$1,707,500

The full report lists every Item 7 line and checks that the totals add up.

Item 19 · Unit sales

FDD pp. 76–77
Average, franchised$1,318,978
Median$1,316,974
Company EBITDA margin11.8%
46 of 92 units at or above average92 units reported

Company restaurant EBITDA margin includes restaurant marketing.

Item 20 · Franchised outlets

FDD p. 81
Franchised outletsStart of 2023, then each year end
  1. 93Start 2023
  2. 902023
  3. 922024
  4. 832025
Opened in 20250
Closed in 20259

Item 21 · Franchisor finances

Fiscal year 2025
Revenue$495.1M
Net loss$42.6M
Stockholders' deficit$45.3M

From the franchisor's financial statements included in the FDD.

Built from public filings:
  • Minnesota CARDS
  • Wisconsin DFI
  • California DFPI
  • Indiana SOS
What's inside

The six parts of the FDD that decide whether the math works

  • 5–6

    Every fee

    Upfront, percentage and flat fees, today and at their caps.

  • 7

    Full startup cost

    Every line, checked to make sure it adds up.

  • 19

    Real unit sales

    Average, median and range, plus profit when disclosed.

  • 20

    Openings & closures

    Three years of churn, with mismatched tables flagged.

  • 21

    Franchisor health

    Revenue, profit or loss, cash and debt.

  • +

    Payback calculator

    Editable spreadsheet plus questions for existing franchisees.

Pricing

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Questions

Is this legal advice?

No. We don't interpret the franchise agreement or tell you whether to buy. Use a franchise attorney for the legal side.

Where do the numbers come from?

The franchisor's own FDD, from public state filings or your copy. Every figure is cited.

What if there's no Item 19?

We say so plainly, and the calculator uses assumptions you enter.

Who pays you?

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