How Much Does a Five Guys Franchise Owner Make?
Five Guys franchise owners earn approximately $130,000–$200,000 annually per location based on a 2025 FDD AUV of $1.536M and estimated operating margins of 10–14%. Important context: Five Guys domestic US territories are sold out — all US and Canada franchise rights are spoken for. New Five Guys franchise opportunities are exclusively international. For US buyers, the only entry point is acquiring an existing franchise location through resale. AUV peaked in 2022 and declined 10.6% to $1.536M in 2024 — a trend worth monitoring closely.
Key Takeaways
- Five Guys franchise owners earn approximately $130,000–$200,000 annually based on FDD income data
- AUV of $1.536M
- 6% royalty plus advertising fund fees
- Always validate income estimates with current FDD Item 19 data and franchisee contacts
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Five Guys Quick Stats
| Metric | Value |
|---|---|
| AUV (2025 FDD) | $1.536M (down 10.6% from 2022 peak) |
| Item 19 Disclosure | Yes — AUV with avg/median/high/low |
| Estimated Owner Income | $130K–$200K per store |
| Royalty Rate | 6% of gross sales |
| Ad Fund | ~3% of gross sales |
| Total Fee Burden | ~9% |
| Initial Investment | $440K–$940K |
| US Availability | SOLD OUT — resale only |
| International | Open for development (29 countries) |
| Liquid Capital Required | $500K |
| Net Worth Required | $1.5M |
| US Locations | ~1,558 |
| Avg Payback Period | 5–8 years |
How Much Does a Five Guys Franchise Owner Make Per Year?
Five Guys’ 2025 FDD discloses AUV data with average unit volumes of $1.536M for domestic locations. This figure represents gross revenue — owner net income requires subtracting COGS (~30–33% given the fresh, never-frozen beef model), labor (~28–32%), occupancy (~10%), and fee burden (~9%). Applying these benchmarks:
| AUV Tier | Est. Net Margin (10–14%) | Est. Owner Income |
|---|---|---|
| $1.1M (lower locations) | 10% | ~$110K |
| $1.5M (FDD avg) | 10–13% | $150K–$195K |
| $1.536M (2025 FDD) | 10–13% | $154K–$200K |
| $1.8M (top performers) | 12–15% | $216K–$270K |
Methodology: Five Guys 2025 FDD AUV of $1.536M. Net margin estimate of 10–13% applied after 9% royalty+ad, 30–33% COGS (fresh beef drives higher food cost than competitor chains), 28–30% labor, and 9–10% occupancy. AUV declined 10.6% from 2022 peak — Q4 2025 AUV trends should be validated with current franchisees before modeling. Five Guys paid $200M to buy back 106 locations from its largest franchisee in 2025, suggesting some unit-level pressure. Always consult the current FDD.
How Much Does a Five Guys Franchise Owner Make Per Month?
At the FDD AUV of $1.536M and estimated annual income of $154K–$200K, a Five Guys franchise owner earns approximately $12,800–$16,700 per month before taxes and debt service.
Can I Still Buy a Five Guys Franchise in the US?
Effectively, no — not as a new franchisee. All US and Canadian Five Guys territories are sold out. The brand is not awarding new US development agreements. Your options are:
- Resale: Buy an existing Five Guys franchise from a current operator. Resale values typically trade at 3–5x EBITDA — a $200K EBITDA store might sell for $600K–$1M above asset value
- International development: Five Guys is actively seeking international operators in Europe, the Middle East, and Asia-Pacific, where AUVs in some markets rival or exceed domestic performance
- Alternative brands: Freddy’s Frozen Custard ($735K–$2.4M investment, $1.95M AUV), Culver’s ($2.4M–$5.8M, $3.6M AUV), or Habit Burger offer similar premium-burger positioning with domestic availability
What Factors Affect Five Guys Franchise Owner Income?
- AUV decline risk: AUV fell 10.6% from the 2022 peak — driven by average meal prices of $20+ that are 50% above QSR peers; value-conscious consumers are trading down to McDonald’s and Wendy’s
- Fresh beef cost: No-freezer commitment means food cost of 30–33% — meaningfully higher than competitors who use frozen patties. Commodity price swings (beef up 12% in 2024) hit Five Guys harder than peers
- Premium location positioning: Five Guys primarily operates in premium retail and food court locations with higher occupancy costs — a strong AUV driver in good markets but a margin drag when volume softens
- Family ownership stability: The Murrell family’s $200M buyback of 106 locations signals commitment to quality control, not franchise system stress — long-term brand integrity is intact
How Does Five Guys Compare to Similar Franchises?
| Brand | AUV | Total Fees | Investment | US Available? | Est. Owner Income |
|---|---|---|---|---|---|
| Five Guys | $1.536M | ~9% | $440K–$940K | Resale only | $130K–$200K |
| Burger King | $1.6M–$1.7M | 9%+ | $363K–$4.7M | Yes | $90K–$230K |
| Wendy’s | $2.1M | 8% | $393K–$3.0M | Yes | $150K–$315K |
| McDonald’s | $3.84M | 8% | $1.47M–$2.73M | Yes (resale) | $150K–$550K |
Five Guys’ $1.536M AUV is solid but below Wendy’s and McDonald’s at similar or higher investment levels. The sold-out domestic market limits US buyers to the resale market. For full FDD cost and disclosure data on Five Guys, visit FranchisePayback.com.
Frequently Asked Questions About Five Guys Franchise Owner Income
What is a Five Guys franchise owner’s average income?
Based on Five Guys’ 2025 FDD AUV of $1.536M and estimated net margins of 10–13%, a Five Guys franchise owner earns approximately $130,000–$200,000 annually per location. Note that AUV has declined 10.6% from the 2022 peak, so current-year performance should be validated with franchisees before modeling.
Are Five Guys franchises available in the US?
No — all US and Canadian Five Guys territories are sold out. New franchise opportunities are exclusively international. US buyers can only enter through resale of existing franchise agreements, which typically trade at 3–5x EBITDA.
Why did Five Guys buy back 106 locations?
In 2025, the Murrell family paid $200M to reacquire 106 locations from their largest franchisee. This reflects the family’s long-standing preference for quality control over royalty cash flow — not a systemic franchise failure signal. Five Guys has operated with family-owned discipline since 1986, and the buyback returned those locations to direct Murrell management rather than allowing them to be sold to a third-party operator.
Where can I find Five Guys’ FDD and full cost data?
Full FDD data, investment breakdowns, and franchise disclosure details for Five Guys are available at FranchisePayback.com.
Bottom Line: Is a Five Guys Franchise Worth It?
Five Guys is a premium, family-controlled franchise with 30+ years of brand integrity and a genuine “never frozen” competitive moat. For US buyers, the market reality is that you’re entering through resale, not new development — and paying 3–5x EBITDA for the privilege. The 10.6% AUV decline from peak is worth monitoring closely before committing resale capital. For international investors, Five Guys offers brand cachet and territory upside in markets where the premium burger segment is underpenetrated. Domestically, comparable unit economics are available from Wendy’s, Burger King, or Freddy’s — with active development availability and no resale premium.
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— SharpSheets Editorial Team | sharpsheets.io | Last Updated: July 2026