Waffle House Franchise FDD, Profits & Costs (2025)

Waffle House, founded in 1955, is a well-known American diner offering classic diner fare and all-day breakfast, with its signature item being waffles. The brand is recognized for its welcoming atmosphere, comfort food, and excellent service, aiming to make every customer feel at home.

Waffle House has a strong legacy and is deeply embedded in the communities it serves, which has helped establish it as a cultural icon. Its headquarters are located in Norcross, Georgia.

The chain boasts over 1,900 locations across 25 states, with approximately 250 being franchise units. Waffle House is actively expanding, with plans to reach 3,000 units globally before 2027 by collaborating with select franchise partners.

However, it is important to note that Waffle House does not offer franchise opportunities to the general public. The company maintains a more exclusive approach to franchising, partnering with specific individuals or entities rather than opening up applications broadly. As a result, the majority of Waffle House locations are company-owned.

Initial Investment

How much does it cost to start a Waffle House franchise? Unfortunately, Waffle House does not offer franchise opportunities.

Therefore, it is not possible to start a Waffle House franchise, and there is no associated cost for franchising with the company disclosed by the company.

For similar breakfast style restaurant franchises, however, the initial investment is on average $1,017,000, ranging from $124,000 to $4,376,000.

Here are a few comparable franchises with their initial investment requirements as a comparison:

Average Revenue (AUV)

How much revenue can you make with a Waffle House franchise? Since Waffle House does not franchise its stores and all locations are company-owned, Waffle House does not publish a Franchise Disclosure Document. Therefore, it does not disclose the average revenue of its locations.

However, looking at comparable franchises, a similar breakfast style restaurant franchise makes on average $1,812,000 in revenue (AUV) per year.

Below are 10 Waffle House competitors and their average yearly revenue as a comparison:

Frequently Asked Questions

How many Waffle House locations are there?

Waffle House operates over 1,900 locations, with around 250 being franchise-owned units. The remaining majority are company-owned. The company plans to expand its reach to 3,000 locations by 2027 through select partnerships.

What is the total investment required to open a Waffle House franchise?

Waffle House does not offer franchise opportunities and therefore, it is not possible to establish the initial investment to start a Waffle House franchise.

However, the total investment required to open a franchised store similar to Waffle House franchise ranges from $124,000 to $4,376,000.

What are the ongoing fees for a Waffle House franchise?

Since Waffle House does not offer franchises to the general public and the majority of the stores are company-owned, the ongoing fees such as royalty fees or advertising fees associated with franchising the brand are not readily available.

Yet, similar breakfast franchises in the industry charge an average of 4%-5% in royalty fees and 2%-4% in advertising fees (e.g. Dennys.)

What are the financial requirements to become a Waffle House franchisee?

All Waffle House locations are company-owned, and the brand does not offer opportunities for independent ownership or franchising. Therefore, Waffle House does not publicly disclose specific requirements for net worth and liquid capital to become a franchisee.

For breakfast franchises similar to Waffle House, financial requirements can vary significantly. These may include a minimum net worth of around $1 million to $2 million and liquid capital of $500,000 to $1 million. These figures can vary based on the franchise and its specific needs but provide a general estimate for comparable restaurant franchises.

How much can a Waffle House franchise owner expect to earn?

Since Waffle House is entirely company-owned and does not operate as a franchise, there is no earning disclosure for a Waffle House franchise.

Now, assuming the average gross sales for a similar breakfast-style franchise of $1,812,000 per store. And assuming a 15% operating profit margin, this means a $1,812,000 yearly revenue would result in $272,000 operating profit per year.

Who owns Waffle House?

Waffle House is a privately held company, primarily owned by its founders’ families. The company was co-founded by Joe Rogers Sr. and Tom Forkner in 1955, and ownership has remained largely within their families. The structure of ownership is not publicly disclosed, as Waffle House does not operate as a public company.

Disclaimer

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