OFFICIAL FILING · MN · 2025
Carl's Jr. (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). Carl's Jr. (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 6 | Ongoing royalty | 5.0% of gross sales |
| ITEM 7 | Total initial investment | $688K–$1.1M |
| ITEM 3 | Disclosed litigation matters | 9 |
| ITEM 19 | Earnings disclosure (FPR) | Yes — median unit volume $1.6M ("The financial performance representation included below shows the average revenue for our 56 Carl's Jr. Travel Center and Gas and Convenience Center Restaurants (as defined below) that were operated by our franchisees during the entire 53 week time period of January 30, 2024 to January 27, 2025 (the 'FY25 Period'). At the end of FY25 we had 1,571 franchised and company-operated restaurants open and operating in the United States. Of the 976 restaurants excluded from this financial performance representation: (i) 950 restaurants operate from a freestanding location — meaning, the restaurant is located in a single tenant building, not attached to any other structures, (ii) 25 restaurants operate from a college, university, toll plaza, end-cap, inline or airport, and (iii) 1 restaurant did not provide us with complete revenue data for the entire FY25 time period." Table also shows: # Met/Exceeded Average 28; % Met/Exceeded Average 56%; Lowest $343,875; Highest 2,516,000.) |
| ITEM 20 | Outlets (fiscal 2025) | 982 franchised at year end · 38 exits (3.7% annualized) |
| ITEM 21 | Franchisor financial statements | clean (unqualified) audit opinion — KPMG LLP |
Citation discipline: every figure above is extracted from the 2025 Carl's Jr. (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.
Carl's Jr. (NT) FDD questions, answered
Where can I download the Carl's Jr. (NT) FDD for free?
Carl's Jr. (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 Carl's Jr. (NT)'s most recent FDD on file?
The most recent Carl's Jr. (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 Carl's Jr. (NT)'s FDD disclose earnings (Item 19)?
Yes — Carl's Jr. (NT) makes a financial performance representation in Item 19 of its 2025 FDD, reporting a median unit volume of $1.6M. Read the basis fine print: franchisors choose which units and metrics to include.
What does Carl's Jr. (NT)'s FDD Item 20 show?
In fiscal 2025, Carl's Jr. (NT) ended with 982 franchised outlets; 38 of 1,014 open at the start of the year left the system — an annualized exit rate of 3.7% (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 Carl's Jr. (NT)'s numbers, including talking you out of a bad deal.
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