OFFICIAL FILING · MN · 2026
HARDEE'S (AA) FDD (Franchise Disclosure Document) — 2026
The FDD is the 23-item legal disclosure every U.S. franchisor must hand you at least 14 days before you sign or pay anything (FTC Franchise Rule, 16 CFR 436). HARDEE'S (AA)'s most recent FDD tracked here was filed in 2026 with the Minnesota Department of Commerce (public CARDS portal) — and because registration-state filings are public records, you can read it free, without giving a broker your phone number.
THE SAME DOCUMENT SITES SELL OR GATE BEHIND LEAD FORMS. FILED 2026 · SOURCE STATE MN
| ITEM 5 | Initial franchise fee | $25K |
| ITEM 6 | Ongoing royalty | 4.0% of gross sales |
| ITEM 7 | Total initial investment | $1.4M–$2.6M |
| ITEM 3 | Disclosed litigation matters | 12 |
| ITEM 19 | Earnings disclosure (FPR) | Yes — median unit volume $1.3M ("The financial performance representation included below shows the average revenue for 1,169 freestanding Hardee's Restaurants that were operated by our franchisees and us (as company-operated restaurants) during the entire 53 week time period of January 28, 2025 to January 26, 2026 (the 'FY26 Period'). Of the 1,169 freestanding Hardee's Restaurants included in this financial performance representation, 194 restaurants are company-operated restaurants, and 975 restaurants are franchised restaurants." — "At the end of FY26 we had 1,485 franchised and company-operated restaurants open and operating in the United States. Of the 316 restaurants excluded from this financial performance representation: (i) 131 restaurants operate from a travel plaza, gas and convenience store, college, university, toll plaza, or airport – meaning, they do not operate from a freestanding location, (ii) 97 are Dual Concept, and (iii) 88 restaurants did not provide us with complete revenue data for the entire FY26 time period." Table title: "Average Revenue FY26 — Franchised Hardee's Freestanding Restaurants"; # Met/Exceeded Average 471; % Met/Exceeded Average 50.1%; Lowest $413,015; Highest $3,599,953.) |
| ITEM 20 | Outlets (fiscal 2026) | 1,287 franchised at year end · 87 exits (6.4% annualized) |
| ITEM 21 | Franchisor financial statements | clean (unqualified) audit opinion — KPMG LLP |
Citation discipline: every figure above is extracted from the 2026 HARDEE'S (AA) FDD as filed and links back to that document. Fields the filing did not state are omitted — nothing here is estimated, surveyed, or filled in from marketing material. FDDs are reissued annually; verify against the current issuance before relying on any number.
HARDEE'S (AA) FDD questions, answered
Where can I download the HARDEE'S (AA) FDD for free?
HARDEE'S (AA)'s 2026 Franchise Disclosure Document is a public record, filed with the Minnesota Department of Commerce (public CARDS portal). It can be downloaded free from the source link on this page — no broker form, no email signup required.
What year is HARDEE'S (AA)'s most recent FDD on file?
The most recent HARDEE'S (AA) FDD tracked here was filed in 2026 with the Minnesota Department of Commerce (public CARDS portal). Franchisors must update their FDD annually, so confirm you are reading the current issuance before signing.
Does HARDEE'S (AA)'s FDD disclose earnings (Item 19)?
Yes — HARDEE'S (AA) makes a financial performance representation in Item 19 of its 2026 FDD, reporting a median unit volume of $1.3M. Read the basis fine print: franchisors choose which units and metrics to include.
What does HARDEE'S (AA)'s FDD Item 20 show?
In fiscal 2026, HARDEE'S (AA) ended with 1,287 franchised outlets; 87 of 1,369 open at the start of the year left the system — an annualized exit rate of 6.4% (terminations, non-renewals, and "ceased operations — other reasons").
A broker is paid by the franchisor to place you. An independent CPA is paid by you — and the job is pressure-testing HARDEE'S (AA)'s numbers, including talking you out of a bad deal.
Talk to an independent CPA before you buy →