OFFICIAL FILING · MN · 2026
Potbelly Sandwich Shop 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). Potbelly Sandwich Shop'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 | $40K |
| ITEM 6 | Ongoing royalty | 6.0% of gross sales |
| ITEM 7 | Total initial investment | $629K–$999K |
| ITEM 3 | Disclosed litigation matters | 0 |
| ITEM 19 | Earnings disclosure (FPR) | Yes — median unit volume $1.2M ("Potbelly Franchise 2025 Average Unit Volume — All Shops," Shop Count = 97. Per Item 19: "As of the end of Period 12 in 2025 (ending on December 28, 2025), we had 119 franchised Potbelly Shops open... Of the 119 franchised Potbelly Shops, 97 were open for the entire 12-period timeframe (12 full periods) beginning with fiscal Period 1 in 2025 (beginning on January 1, 2025) through fiscal Period 12 in 2025 (ending on December 28, 2025)." Excludes 24 franchised Shops not open the entire 12-period timeframe (22 opened, 2 closed during the year). Non-Traditional Venue results (University, Airport, Kitchen) shown separately. "This financial performance representation was prepared without an audit... no certified public accountant has audited these figures." Figures are gross sales/unit volume only and "do not reflect the costs of sales, operating expenses, or other costs or expenses that you must deduct.") |
| ITEM 20 | Outlets (fiscal 2025) | 122 franchised at year end · 2 exits (2.0% annualized) |
| ITEM 21 | Franchisor financial statements | clean (unqualified) audit opinion — Grant Thornton LLP (FY2025 Successor/Predecessor periods and year ended December 29, 2024); Deloitte & Touche LLP (year ended December 31, 2023) |
Citation discipline: every figure above is extracted from the 2026 Potbelly Sandwich Shop 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.
Potbelly Sandwich Shop FDD questions, answered
Where can I download the Potbelly Sandwich Shop FDD for free?
Potbelly Sandwich Shop'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 Potbelly Sandwich Shop's most recent FDD on file?
The most recent Potbelly Sandwich Shop 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 Potbelly Sandwich Shop's FDD disclose earnings (Item 19)?
Yes — Potbelly Sandwich Shop makes a financial performance representation in Item 19 of its 2026 FDD, reporting a median unit volume of $1.2M. Read the basis fine print: franchisors choose which units and metrics to include.
What does Potbelly Sandwich Shop's FDD Item 20 show?
In fiscal 2025, Potbelly Sandwich Shop ended with 122 franchised outlets; 2 of 102 open at the start of the year left the system — an annualized exit rate of 2.0% (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 Potbelly Sandwich Shop's numbers, including talking you out of a bad deal.
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