FDD Year-over-Year Comparison
IHOP FDD: What Changed from 2025 to 2026
The 2026 IHOP FDD moves the Item 7 estimated initial investment range from $80,000–$600,000 to $616,682–$4,632,445, and the system contracts from 1,703 to 1,642 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 | $80,000 | $616,682 | +$536,682 (+670.9%) |
| High end of range | $600,000 | $4,632,445 | +$4,032,445 (+672.1%) |
| Full range | $80,000–$600,000 | $616,682–$4,632,445 |
The 2026 filing puts the Item 7 estimated initial investment at $616,682–$4,632,445, versus $80,000–$600,000 in the 2025 filing. The low end moves by +$536,682 (+670.9%) and the high end moves by +$4,032,445 (+672.1%).
Item 20 — System Size (Outlet Count)
| 2025 FDD | 2026 FDD | Change | |
|---|---|---|---|
| Total outlets (Item 20) | 1,703 | 1,642 | −61 (−3.6%) |
IHOP reports 1,642 outlets in the 2026 FDD, versus 1,703 in the 2025 filing (−61 (−3.6%)).
Item 19 — Financial Performance Representations
IHOP included an Item 19 financial performance representation in both the 2025 and 2026 filings.
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