The 2026 Circle K FDD moves the Item 7 estimated initial investment range from $934,500–$8,301,500 to $1,472,500–$2,874,650, and the system grows from 4,631 to 6,071 outlets (+31.1%) year-over-year. The 2026 filing drops the Item 19 financial performance representation that the 2025 filing included.
| 2025 FDD | 2026 FDD | Change | |
|---|---|---|---|
| Low end of range | $934,500 | $1,472,500 | +$538,000 (+57.6%) |
| High end of range | $8,301,500 | $2,874,650 | −$5,426,850 (−65.4%) |
| Full range | $934,500–$8,301,500 | $1,472,500–$2,874,650 |
The 2026 filing puts the Item 7 estimated initial investment at $1,472,500–$2,874,650, against $934,500–$8,301,500 in the 2025 filing. The low end moves by +$538,000 (+57.6%) and the high end moves by −$5,426,850 (−65.4%), narrowing the band from $7,367,000 to $1,402,150.
2026 filing: Initial investment excludes real estate. The Fee and Investment structure differs for Motor Fuel and Branding components, which are separate from the single-unit franchise. See Item 7 for full breakdown.
| 2025 FDD | 2026 FDD | Change | |
|---|---|---|---|
| Total outlets (Item 20) | 4,631 | 6,071 | +1,440 (+31.1%) |
| Franchised outlets | 54 | 515 | +461 (+853.7%) |
| Company-owned outlets | 4,577 | 5,556 | +979 |
| Openings during the year | 187 | 7 | −180 |
| Closures during the year | Not disclosed | 35 |
Circle K reports 6,071 outlets in the 2026 FDD, against 4,631 in the 2025 filing — a change of +1,440 (+31.1%).
Outlet counts as each filing states them — 2025: Year 2025 (as presented in Item 20 tables; systemwide summary for years 2023 to 2025); 2026: End of fiscal year April 26, 2026. Item 20 counts include both franchised and company-owned locations, and may include outlets with fuel or branded business components. Company-owned outlet counts may reflect stores also classified under separate franchise programs. Transfers are detailed by state and year.
The 2026 Circle K filing drops the Item 19 financial performance representation that the 2025 filing carried.
| 2025 FDD | 2026 FDD | Change | |
|---|---|---|---|
| Standard royalty rate | 3.5% | 6% | +2.5 pts |
The standard royalty rate moves from 3.5% to 6% of Gross Sales between filings.
2025 filing: Royalty is the greater of: (a) (i) 3.5% of Gross Sales and (ii) $0.0075 per gallon of Motor Fuel Sales, or (b) $1,500 per Accounting Period. 2026 filing: Royalty rate depends on funding level and may range from 3.5% to 6% of Gross Sales plus minimum monthly payment. Certain business variations may result in higher effective rates.