OFFICIAL FILING · MN · 2025
Hardee's (NT) FDD (Franchise Disclosure Document) — 2025
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 (NT)'s most recent FDD tracked here was filed in 2025 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 2025 · SOURCE STATE MN
| ITEM 5 | Initial franchise fee | $25K |
| ITEM 7 | Total initial investment | $688K–$1.1M |
| ITEM 3 | Disclosed litigation matters | 9 |
| ITEM 19 | Earnings disclosure (FPR) | Yes — median unit volume $1.4M (Average Revenue FY25, Franchised Hardee's Travel Center and Gas and Convenience Restaurants: 129 Hardee's Travel Center and Gas and Convenience Center Restaurants operated by franchisees and us (as company-operated restaurants) during the entire 53 week time period of January 30, 2024 to January 27, 2025 (the "FY25 Period"); of the 129, 1 restaurant is company-operated and 128 are franchised. At the end of FY25 there were 1,571 franchised and company-operated restaurants open and operating in the United States; of the 1,442 excluded: (i) 1,433 operate from a freestanding location, (ii) 2 operate from a college, university, toll plaza, or airport, and (iii) 7 did not provide complete revenue data for the entire FY25 time period. # Met/Exceeded Average = 61 (47.7%); Lowest $508,677; Highest $2,778,948.) |
| ITEM 20 | Outlets (fiscal 2025) | 1,369 franchised at year end · 33 exits (2.4% annualized) |
| ITEM 21 | Franchisor financial statements | clean (unqualified) audit opinion — KPMG LLP |
Citation discipline: every figure above is extracted from the 2025 Hardee's (NT) 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 (NT) FDD questions, answered
Where can I download the Hardee's (NT) FDD for free?
Hardee's (NT)'s 2025 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 (NT)'s most recent FDD on file?
The most recent Hardee's (NT) FDD tracked here was filed in 2025 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 (NT)'s FDD disclose earnings (Item 19)?
Yes — Hardee's (NT) makes a financial performance representation in Item 19 of its 2025 FDD, reporting a median unit volume of $1.4M. Read the basis fine print: franchisors choose which units and metrics to include.
What does Hardee's (NT)'s FDD Item 20 show?
In fiscal 2025, Hardee's (NT) ended with 1,369 franchised outlets; 33 of 1,393 open at the start of the year left the system — an annualized exit rate of 2.4% (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 (NT)'s numbers, including talking you out of a bad deal.
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