Culver's FDD: What Changed from 2025 to 2026
The 2026 Culver's FDD lifts the Item 7 estimated initial investment by $763,850 on the low end and $1,721,100 on the high end (reaching $3,406,350–$10,294,100), while the system adds 44 restaurants to 1,041 and the initial franchise fee structure shifts from a $30,000–$55,000 range to a flat $65,000.
Item 7 — Estimated Initial Investment
| 2025 FDD | 2026 FDD | Change | |
|---|---|---|---|
| Low end of range | $2,642,500 | $3,406,350 | +$763,850 |
| High end of range | $8,573,000 | $10,294,100 | +$1,721,100 |
| Full range | $2,642,500–$8,573,000 | $3,406,350–$10,294,100 |
Both ends of the Item 7 range shift materially higher between filings, widening the overall band from a $5,930,500 spread to a $6,887,750 spread.
Item 20 — System Size (Outlet Count)
| 2025 FDD | 2026 FDD | Change | |
|---|---|---|---|
| Total outlets (Item 20) | 997 | 1,041 | +44 (+4.4%) |
Culver's reports 1,041 outlets in the 2026 FDD, up 44 from 997 in the 2025 filing — the system crossed 1,000 restaurants between filings.
Item 19 — Financial Performance Representations
Culver's provided an Item 19 financial performance representation in both the 2025 and 2026 filings.
Item 6 — Ongoing Fees
| 2025 FDD | 2026 FDD | Change | |
|---|---|---|---|
| Royalty rate | 4% | 4% | unchanged |
The ongoing royalty rate remains 4% of Gross Sales between filings; the initial franchise fee moves from a $30,000–$55,000 range in 2025 to a flat $65,000 in 2026.
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