Hardee's vs SMASHBURGER
Side-by-side figures from each brand's latest FDD Item 20 as we extracted them; verdicts are our opinion under the published methodology, and the source filing and year are on each brand's profile. Green marks the more favorable metric (lower for distress), not a recommendation to buy.
Units · latest run
-15.3% (2022–2026)
Net unit change
-3.7% (2021–2023)
Fair
Exit quality
Weak
Strong
Transfer / churn
Strong
1.5× expected (19 of 83)
SBA losses vs same-year loans
Too few seasoned loans
—
Distress
—
$25,000
Franchise fee
$40,000
$1.4M–$2.6M
Investment range
$1.2M–$2.2M
4%
Royalty
5.5%
Disclosed
Earnings (Item 19)
Not disclosed
Hardee's
SMASHBURGER
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