FDD Year-over-Year Comparison
Captain D's FDD: What Changed from 2025 to 2026
The 2026 Captain D's FDD moves the Item 7 estimated initial investment range from $898,600–$1,354,200 to $662,000–$1,862,100, and the system contracts from 530 to 518 outlets year-over-year. Both filings include an Item 19 financial performance representation.
Item 7 — Estimated Initial Investment
| 2025 FDD | 2026 FDD | Change | |
|---|---|---|---|
| Low end of range | $898,600 | $662,000 | −$236,600 (−26.3%) |
| High end of range | $1,354,200 | $1,862,100 | +$507,900 (+37.5%) |
| Full range | $898,600–$1,354,200 | $662,000–$1,862,100 |
The 2026 filing puts the Item 7 estimated initial investment at $662,000–$1,862,100, versus $898,600–$1,354,200 in the 2025 filing. The low end moves by −$236,600 (−26.3%) and the high end moves by +$507,900 (+37.5%).
Item 20 — System Size (Outlet Count)
| 2025 FDD | 2026 FDD | Change | |
|---|---|---|---|
| Total outlets (Item 20) | 530 | 518 | −12 (−2.3%) |
Captain D's reports 518 outlets in the 2026 FDD, versus 530 in the 2025 filing (−12 (−2.3%)).
Item 19 — Financial Performance Representations
Captain D's included an Item 19 financial performance representation in both the 2025 and 2026 filings.
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