Key Takeaways
- Burger franchise costs range from roughly $370,000 on the low end (Mooyah) to over $8 million for multi-unit Wendy's or Jack in the Box development deals.
- Jack in the Box offers the rare combination of a publicly traded parent, disclosed average sales near $1.9M, and royalty incentives that drop to 2% for multi-unit operators.
- Wendy's carries the lowest royalty (4%) but the steepest entry bar (a $5M net worth requirement and multi-unit commitment).
- Five Guys is currently hard to enter as a new U.S. operator, despite frequent searches.
- Smaller fast-casual brands (Mooyah, Wayback) cost less up front but carry less brand weight and thinner ad budgets.
- Verify every figure against the brand's current FDD before you write a check. The numbers below are accurate as of the latest available filings.
How to read this list
Picking a burger franchise isn't about which burger you'd rather eat. It's about three things: how much capital you can deploy, how many units you want to run, and how much brand power you're buying.
I've sorted the field by what kind of investor each brand fits. Costs and fees come from each company's most recent Franchise Disclosure Document. Treat the sales figures as gross, not profit, and always confirm against the live FDD since franchisors update these yearly.
Best for serious multi-unit operators
Jack in the Box
Founded in 1951. The franchisor entity is Different Rules, LLC, under publicly traded Jack in the Box Inc. (NASDAQ: JACK), so the parent's financials are auditable in its SEC filings.
Per the 2026 FDD (Item 7), a single restaurant runs $1,909,500 to $4,041,500 to open (excluding land), with a $50,000 franchise fee, a 5% royalty, and a 5% marketing fee.
Why investors circle it: franchise-operated restaurants averaged $1,913,335 in gross sales in fiscal 2025 (Item 19), and the top third averaged $2,632,491. The Select Market Incentive can cut the royalty from 5% to 2% for the first five years on qualifying restaurants developed under a multi-unit agreement. The system ran 2,136 restaurants at the end of fiscal 2025. If you want a recognized brand with hard disclosed economics and open territory, this is the standout.
Wendy's
The franchisor is Quality Is Our Recipe, LLC, under The Wendy's Company (NASDAQ: WEN). Per its 2025 FDD, Wendy's reported 5,933 total units in 2025, of which 5,552 were franchised, with an initial investment range of $393,000 to $2,992,000. Franchisepayback
The appeal is the fee structure. As of the 2025 FDD, the royalty is 4% of gross sales and the national advertising contribution is another 4%. The catch is the gate: Wendy's generally does not sell single-unit franchises to new operators and looks for roughly a $5 million net worth and $2 million in liquid capital. This is a brand for funded groups, not first-timers.
Best for fast-casual, premium-burger investors
Smashburger
The franchisor is Smashburger Franchising LLC, owned by Jollibee Foods Corporation, the publicly traded Philippine restaurant group. Per the 2025 FDD, total initial investment runs $1,239,500 to $2,255,500, with a $40,000 franchise fee, a 5.5% royalty, and an advertising contribution of roughly 2.25%, plus fixed monthly vendor fees. The brand has been franchising since 2008. Strong concept, higher build cost, smaller footprint than the QSR giants, and it leans heavily on multi-unit development agreements. (Source 1)(Source 2)
Fatburger
The franchisor is Fatburger North America, Inc., owned by FAT Brands Inc. (NASDAQ: FAT), so the parent reports publicly. Fatburger franchisees pay a 6% royalty on net sales plus a 4% advertising contribution, per the FDD. The franchise fee is $50,000, with a net worth requirement of $1.5 million and $500,000 in liquid assets. Investment estimates vary widely by format and cobranding, so confirm the current range in Item 7. A recognized premium-burger name with a publicly traded parent you can research. (Source 1)(Source 2)
Best for lower-cost entry
Mooyah Burgers, Fries & Shakes
Founded in Plano, Texas in 2007, owned by private equity (Gala Capital Partners and Balmoral Funds). Investment runs roughly $496,000 to $1,168,000, with around 90 locations as of recent filings. Ongoing fees include a 6% royalty and a 2% marketing fee. A solid fast-casual option if your capital tops out near the $1M mark. The trade-off is brand reach: a 90-unit chain can't match the ad budget of a 2,000-unit system, so you carry more of the brand-building yourself. (Source) (Source 2)
Wayback Burgers
Founded in 1991, franchising since 2009, headquartered in Cheshire, Connecticut. Per the brand's own franchise materials, the initial franchise fee is $35,000. Wayback's official franchise site lists a 5% royalty and a 4% advertising fee, with a $250,000 liquid capital and $500,000 net worth requirement. Investment estimates range depending on format, with a typical inline restaurant landing around $550,000 to $650,000 and smaller footprints starting lower. One of the more accessible ways into a burger concept, with a growing footprint. Source
The brand everyone searches for (and can't easily buy)
Five Guys
Five Guys gets searched constantly by would-be franchisees, so here's the reality check. Per its franchise materials, the franchise fee is $25,000 with a $50,000 development fee, and the brand requires more than $2.5 million in liquid capital and over $5 million in net worth. For stretches, it has had no franchise opportunities available in the U.S. or Canada at all. Five Guys
So which one should you pick?
If you're an experienced operator with capital and you want disclosed economics, open territory, and royalty incentives that reward scale, Jack in the Box is the most actionable name on this list in 2026. Wendy's wins on fee structure if you can clear the financial bar. The fast-casual names suit smaller budgets but ask you to carry more of the brand-building yourself.
Whatever you choose, request the FDD, talk to existing franchisees in Item 20, and build your own pro forma with an accountant.
Frequently Asked Questions
What is the cheapest burger franchise to open? Among well-known brands, Mooyah and Wayback Burgers sit at the lower end, with investments starting under $500,000. Costs still vary widely by location and build type.
Which burger franchise makes the most money? Disclosed averages favor the larger brands. Jack in the Box franchise restaurants averaged $1,913,335 in gross sales in fiscal 2025, and Wendy's and Five Guys report figures in a similar range.
Can you still buy a Five Guys franchise in 2025 or 2026? Five Guys has frequently had no new U.S. franchise opportunities available, and its requirements include more than $5 million in net worth. Most investors will find it effectively closed.
Which burger franchise has the lowest fees? Wendy's carries one of the lowest royalties at 4%, though its capital requirements are among the highest. Jack in the Box's 5% royalty can drop to 2% for qualifying multi-unit operators.
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