FIREHOUSE SUBS vs Penn Station, Inc.
Compare franchise fees, investment range, royalties, SBA lending performance, unit growth, and Item 19 transparency with a permanent shareable URL.
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FIREHOUSE SUBS
QSR
Investment
$380K to $1.4M
Franchise fee
$20,000
Item 19 status
Cost Data Only
Units
1,170
Penn Station, Inc.
QSR
Investment
$474K to $765K
Franchise fee
$25,000
Item 19 status
Full Disclosure
Units
322
Lower entry cost
Leans left
Based on minimum initial investment.
Better disclosed economics
Even
Uses Item 19 availability and transparency status.
Lower SBA default risk
Leans right
Treat low-loan brands carefully, sample size matters.
| Metric | FIREHOUSE SUBS | Penn Station, Inc. |
|---|---|---|
Franchise Fee | $20,000 | $25,000 |
Min Investment | $380K | $474K |
Max Investment | $1.4M | $765K |
Royalty Rate | 6.0% | 8.0% |
Ad Fund Rate | 5.0% | 2.0% |
Total Ongoing Burden Royalty plus ad fund when available. | 11.0% | 10.0% |
Median Revenue (Item 19) | $964K | $771K |
Cash-on-Cash Return Estimated when revenue and margin assumptions are available. | 2.2% | 3.7% |
Payback Period | 46.0 yrs | 26.8 yrs |
Revenue per Dollar Invested | 1.09x | 1.25x |
Franchised Units | 1,170 | 322 |
1-Year Net Unit Change | 36 | -1 |
Net Unit Growth Rate | 3.1% | -0.3% |
Net Closure Rate Net closure proxy based on disclosed unit change. | N/A | 0.3% |
SBA Default Rate | 7.5% | 0.0% |
SBA Loan Count Use this to judge whether SBA default data is statistically meaningful. | 605 | 14 |
Average SBA Loan Size | $321K | $427K |
Item 19 Status | Cost Data Only | Full Disclosure |
Has Item 19 | ✓ Yes | ✓ Yes |
Data Quality Score | 100 | 100 |
What stands out
- • FIREHOUSE SUBS opens at $380K to $1.4M, while Penn Station, Inc. ranges from $474K to $765K.
- • FIREHOUSE SUBS shows an Item 19 disclosure; Penn Station, Inc. shows an Item 19 disclosure.
- • FIREHOUSE SUBS has 1,170 franchised units versus 322 for Penn Station, Inc..
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Last updated: April 2026