OFFICIAL FILING · WI · 2026
DENNY'S 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). DENNY'S'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 WI
| ITEM 5 | Initial franchise fee | $30K |
| ITEM 6 | Ongoing royalty | 4.5% of gross sales |
| ITEM 7 | Total initial investment | $1.6M–$3.1M |
| ITEM 3 | Disclosed litigation matters | 3 |
| ITEM 19 | Earnings disclosure (FPR) | Yes — median unit volume $1.8M ("Presented below are the average Net Sales figures for the traditional franchised Denny's restaurants that have been operating for at least 12 months, as of the end of 2023 – 2025 fiscal years. During the fiscal years surveyed, no franchised restaurants closed after being open for less than 12 months. At the end of our most recent fiscal year end December 31, 2025, we had 1,212 franchise restaurants (including 12 new restaurant openings) of which 11 were closed at least one month during 2025, 14 were closed at least one month during 2024 and 10 were closed at least one month during 2023 and were excluded from 2025, 2024 and 2023 sales. The figures below do not include The Den restaurants (11 at the end of the 2025 fiscal year, 12 at the end of the 2024 fiscal year and 13 at the end of the 2023 fiscal year)." Number of domestic restaurants (open for all 12 months): 2025 = 1,178; 2024 = 1,237; 2023 = 1,304. Number/percentage of restaurants greater than average: 2025 = 523 / 44%.) |
| ITEM 20 | Outlets (fiscal 2025) | 1,212 franchised at year end · 72 exits (5.7% annualized) |
| ITEM 21 | Franchisor financial statements | clean (unqualified) audit opinion — KPMG LLP |
Citation discipline: every figure above is extracted from the 2026 DENNY'S 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.
DENNY'S FDD questions, answered
Where can I download the DENNY'S FDD for free?
DENNY'S'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 DENNY'S's most recent FDD on file?
The most recent DENNY'S 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 DENNY'S's FDD disclose earnings (Item 19)?
Yes — DENNY'S makes a financial performance representation in Item 19 of its 2026 FDD, reporting a median unit volume of $1.8M. Read the basis fine print: franchisors choose which units and metrics to include.
What does DENNY'S's FDD Item 20 show?
In fiscal 2025, DENNY'S ended with 1,212 franchised outlets; 72 of 1,273 open at the start of the year left the system — an annualized exit rate of 5.7% (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 DENNY'S's numbers, including talking you out of a bad deal.
Talk to an independent CPA before you buy →