FDD Year-over-Year Comparison
Panda Express FDD: What Changed from 2025 to 2026
The 2026 Panda Express FDD holds the Item 7 estimated initial investment range at $514,500–$3,275,500, and the system grows from 2,502 to 2,607 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 | $514,500 | $514,500 | unchanged |
| High end of range | $3,275,500 | $3,275,500 | unchanged |
| Full range | $514,500–$3,275,500 | $514,500–$3,275,500 | |
The Item 7 range matches across both filings at $514,500–$3,275,500.
Item 20 — System Size (Outlet Count)
| 2025 FDD | 2026 FDD | Change |
|---|
| Total outlets (Item 20) | 2,502 | 2,607 | +105 (+4.2%) |
Panda Express reports 2,607 outlets in the 2026 FDD, versus 2,502 in the 2025 filing (+105 (+4.2%)).
Item 19 — Financial Performance Representations
Panda Express included an Item 19 financial performance representation in both the 2025 and 2026 filings.
Frequently asked questions
Did the cost to open a Panda Express franchise change in the 2026 FDD?
The 2026 FDD for Panda Express states an Item 7 estimated initial investment of $514,500–$3,275,500, against $514,500–$3,275,500 in the 2025 filing. Both filings state the same range.
How many locations does Panda Express have?
The 2026 FDD for Panda Express reports 2,607 outlets in Item 20, against 2,502 in the 2025 filing — 105 more.
Does Panda Express disclose financial performance in its FDD?
Panda Express included an Item 19 financial performance representation in both the 2025 and 2026 filings.
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