Five Guys®
What Is Five Guys?
Five Guys is a fast-casual restaurant franchise specializing in hamburgers, french fries, and related accompaniments. Revenue is generated primarily from the sale of those menu items; franchisees are required to purchase certain bread products from Five Guys Bakery and the system includes a customer gift certificate and stored value card program. Restaurants are typically 2,000–3,000 square feet and located in retail shopping centers and other urban locations, with select non-traditional sites (for example, train stations, sports arenas, airports, and university campuses) considered on a case-by-case basis.
Five Guys Franchise: Pros and Cons
The franchisor's exceptional 100 training and support score promises stronger onboarding, field support and ongoing training than most systems, but the Item 7 minimum total of $977,850 and required assets up to $498,500 mean your upfront capital needs and likely financing will be materially higher than peers.
Pros
Cons
Lawsuits & Legal Risk
Part 1 (The Facts): A 2024 suit names the franchisor’s COO personally, alleging defamation, intentional infliction of emotional distress, and tortious interference tied to prior involvement with another franchisor; no further proceedings yet. Part 2 (The Advice): Request updates, review officer indemnification and D&O insurance, and verify any potential business conflicts or related claims.
Territory Protection
Grants a protected operating area where the franchisor will not place other physical units. The franchisor retains rights to sell via e-commerce and alternative channels, to develop nearby units (no franchisee right of first refusal), and to reduce protections contingent on meeting performance quotas, defining market density and site-specific rights.
Training & Support
The brand provides a comprehensive 168-hour training curriculum designed to prepare three managerial staff members for launch, combining classroom instruction with practical operational learning. The program includes on-site launch support for operational readiness, with travel and lodging expenses borne by the franchisee and on-site assistance available at additional cost beyond the initial fee.
Unit Growth Analysis
This franchise shows modest, positive expansion—units increased from 1,458 in 2022 to 1,558 in 2025 (+100 units, +6.9% cumulative), with YoY growth of +1.3% (2023), +3.0% (2024) and +2.4% (2025). For investors this signals a healthy, low‑risk growth trajectory (steady single‑digit/unit additions and operational stability) though the drop from 3.0% to 2.4% in the latest year indicates a slight deceleration worth monitoring.
How Much Does It Cost to Open a Five Guys Franchise?
Opening a Five Guys franchise requires a total initial investment of $977,850 to $1,375,750, according to the 2025 Franchise Disclosure Document. This range covers the franchise fee, real estate, equipment, training, and initial working capital needed to launch and operate through the early months.
Minimum Investment
Maximum Investment
Minimum Investment Breakdown
Maximum Investment Breakdown
Investment Analysis
This investment analysis is coming soon. Have ideas for other analyses you'd like us to add? Get in touch.
The initial investment amounts shown are estimates only. Actual costs may vary based on location size, business model, and multi-unit ownership arrangements. We recommend reviewing the full Franchise Disclosure Document for complete details.
Five Guys Franchise Earnings: Not Disclosed
Five Guys did not disclose financial performance data (Item 19) in their 2025 Franchise Disclosure Document. Not all franchisors choose to publish this information, which can make it harder for prospective owners to evaluate expected revenue before investing.
This franchise company did not publish these results.
Frequently Asked Questions
How much does it cost to open a Five Guys franchise?
The total initial investment for a Five Guys franchise ranges from $977,850 to $1,375,750, according to the 2025 Franchise Disclosure Document. This includes the franchise fee, real estate, equipment, training, and working capital.
What is the Five Guys initial franchise fee?
The initial franchise fee for Five Guys is $25,000, as stated in the 2025 FDD. This fee is paid upon signing the Franchise Agreement.
Does Five Guys disclose franchise revenue data?
Five Guys did not disclose financial performance data (Item 19) in their 2025 FDD. Not all franchisors choose to publish this information.
Does Five Guys have any franchise lawsuits or legal issues?
Five Guys received a legal risk score of 93 out of 100 in the 2025 FDD analysis. Part 1 (The Facts): A 2024 suit names the franchisor’s COO personally, alleging defamation, intentional infliction of emotional distress, and tortious interference tied to prior involvement with another franchisor; no further proceedings yet.
Does Five Guys offer exclusive franchise territories?
Five Guys received a territory protection score of 52 out of 100. Grants a protected operating area where the franchisor will not place other physical units.
What training does Five Guys provide to new franchisees?
Five Guys received a training and support score of 100 out of 100. The brand provides a comprehensive 168-hour training curriculum designed to prepare three managerial staff members for launch, combining classroom instruction with practical operational learning.
How many Five Guys franchise locations are there?
Five Guys had 1558 total locations as of the 2025 Franchise Disclosure Document.
What type of business is Five Guys?
Five Guys is a fast-casual restaurant franchise specializing in hamburgers, french fries, and related accompaniments.
Interested in Five Guys?
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