Hungry Howie’s Pizza & Subs, Inc. vs Chick-fil-A, Inc.
Compare FDD disclosures, investment range, royalty and ad fund burden, SBA lending outcomes, Item 20-style unit movement, Item 19 transparency, and data-confidence caveats with a permanent shareable URL.
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Hungry Howie’s Pizza & Subs, Inc.
QSR
Investment
$319K to $520K
Franchise fee
$25,000
Item 19 status
Confidence
High Confidence
Units
501
Chick-fil-A, Inc.
QSR
Investment
$427K to $2.3M
Franchise fee
$10,000
Item 19 status
Revenue Only
Confidence
High Confidence
Units
2,494
Lower entry cost
Leans left
Based on disclosed minimum initial investment only; buyer cash needs may be higher after working capital, lease, and financing assumptions.
Better disclosed economics
Chick-fil-A, Inc.
Uses the same Item 19 transparency hierarchy shown on franchise pages and rankings.
Lower SBA default risk
Leans right
Treat low-loan brands carefully; sample size and SBA borrower mix matter.
| Metric | Hungry Howie’s Pizza & Subs, Inc. | Chick-fil-A, Inc. |
|---|---|---|
Franchise Fee From disclosed FDD fee data when available; excludes buyer-specific legal, diligence, and financing costs. | $25,000 | $10,000 |
Min Investment Lower bound of disclosed initial investment range, not a recommended capital budget. | $319K | $427K |
Max Investment Upper end of FDD range; still reconcile to site, lease, buildout, and working-capital assumptions. | $520K | $2.3M |
Royalty Rate Ongoing royalty burden before local store economics and owner salary. | 5.5% | 15.0% |
Ad Fund Rate National/brand fund rate when disclosed; local marketing may be additive. | 7.0% | 0.0% |
Total Ongoing Burden Royalty plus ad fund when available. | 12.5% | 15.0% |
Median Revenue (Item 19) Only meaningful when the franchisor provides an Item 19 financial-performance representation. | N/A | $3.4M |
Cash-on-Cash Return Estimated when revenue and margin assumptions are available. | N/A | 0.0% |
Payback Period | N/A | N/A |
Revenue per Dollar Invested | N/A | 2.45x |
Franchised Units Latest disclosed franchised-unit count in the corpus. | 501 | 2,494 |
1-Year Net Unit Change Item 20-style system movement signal; investigate transfers, closures, and refranchising before assuming organic growth. | 3 | 135 |
Net Unit Growth Rate | 0.6% | 5.8% |
Net Closure Rate Net closure proxy based on disclosed unit change. | N/A | N/A |
SBA Default Rate Historical SBA performance for matched loans, not a prediction for a new buyer or location. | 16.0% | 0.0% |
SBA Loan Count Use this to judge whether SBA default data is statistically meaningful. | 26 | 1 |
Average SBA Loan Size | $250K | $3.0M |
Item 19 Status Canonical transparency badge used across franchise, ranking, and compare surfaces. | Revenue Only | |
Has Item 19 | ✓ Yes | ✓ Yes |
Data Confidence Derived from the same data-quality thresholds used on franchise pages. | High Confidence · 83/100 | High Confidence · 100/100 |
What stands out
- • Hungry Howie’s Pizza & Subs, Inc. discloses an initial investment range of $319K to $520K, while Chick-fil-A, Inc. discloses $427K to $2.3M. Treat these as FDD ranges, not a full purchase budget.
- • Hungry Howie’s Pizza & Subs, Inc. shows an Item 19 financial-performance disclosure; Chick-fil-A, Inc. shows an Item 19 financial-performance disclosure. Missing Item 19 data should narrow confidence, not automatically kill a brand.
- • Hungry Howie’s Pizza & Subs, Inc. has 501 franchised units versus 2,494 for Chick-fil-A, Inc.; use one-year net unit movement and closure proxies as early diligence signals, not final underwriting.
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Last updated: May 2026