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Penn Station FDD Analysis · 2026

Penn Station Franchise Cost (2026 FDD)

Inside the Penn Station franchise disclosure

You searched the right thing. The FDD is the document that spells out what a Penn Station franchise is really about — what you're committing to, and what they're committing to you. Here's a sampling of what their 2026 Franchise Disclosure Document reveals:

Investment to open
$441K–$820K
System size
322total locations
Financial perf. (Item 19)
Included
Year
2026filed May 12

§System size — penn Station's 2026 FDD reports 322 locations system-wide. (Item 20.)

§Already a Penn Station franchisee? See everything that changed since you signed →

01 · From the filing

Here's what their franchise disclosure tells you

Six of the items Penn Station's 2026 FDD has to answer, drawn straight from the filing. The rest of the document — and the figures behind these — open in your Clearly™ Workspace.

§
Item 7
·

Estimated Initial Investment

The full cost to open, low to high, including working capital.
$440,600–$819,700
§
Item 19
·

Financial Performance

Includes a financial performance representation.
Ask Clara what the figures mean →
§
Item 20
·

Outlets & Franchisees

Outlet counts, openings and closures, turnover.
322 locations
§
Item 6
·

Other Fees

The royalty, brand fund, and every other recurring fee are itemized in Item 6.
See the full fee schedule with Clara →
§
Item 5
·

Initial Fees

The initial franchise fee and other upfront costs are listed in Item 5.
Ask Clara about the upfront fees →
§
Item 12
·

Territory

Territory rights and their limits are defined in Item 12.
Ask Clara what the terms mean →

Penn Station's $440K–$820K sits against a median of $617,000 across the 32 sandwich franchises on file that disclose an investment range.

02 · Read it with Clara

Open Penn Station's FDD in the Clearly Workspace — with Clara beside you.

Penn Station's franchise agreement spells out exactly what you're signing up for. You cannot change the FDD, and that's not the point. The point is to walk into your attorney conversation already knowing the document, so you ask the questions that matter most to you.

Clara is an expert FDD assistant. Ask her anything about Penn Station's filing and she answers from the document itself, with the item and page she read it in — so you can check her.

You don't have to know what to ask first.

Open the Workspace and Clara offers to walk you through the filing, Item by Item: what it says, why it matters, and what to verify. Every answer links to the Item and page in the FDD. Ask your own questions whenever you want, and your Guided Review progress is saved, so you can stop and come back to it.

People ask Clara —

  • What does it actually cost to open?
  • What fees come after the franchise fee?
  • How do their locations perform?
  • Do I get a protected territory?
  • What happens if I want out?

The Penn Station Workspace

$19

One-time · yours to keep

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A Clearly Workspace for McDonald's showing the Clearly Report, both FDD filings, and the Year-over-Year report, with Clara offering to start Guided Review
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The full FDD in your Clearly Workspace · Guided Review through the 23 Items · Clara beside you, unlimited questions · Year-over-Year report included · saved to your Clearly Library · yours to keep

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03 · Common questions

Common questions

How much does it cost to open a Penn Station franchise?

Penn Station's 2026 FDD estimates a total initial investment of $440,600–$819,700. The itemized breakdown, including the initial franchise fee, is in Items 5 and 7.

What are the ongoing fees for a Penn Station franchise?

The royalty, brand-fund contribution, and every other recurring fee are itemized in Item 6 of Penn Station's 2026 FDD. Clara walks you through the full fee schedule in your Clearly Workspace.

Does Penn Station share how its franchises perform financially?

Yes — Penn Station's 2026 FDD includes an Item 19 financial performance representation. The figures themselves are in your Clearly Workspace.

How many Penn Station locations are there?

Penn Station's 2026 FDD reports 322 locations (Item 20).

Can Clearly help me review the Penn Station FDD?

Yes. Open the Penn Station Workspace and Guided Review walks through the filing Item by Item: what each Item discloses, why it matters, and what to verify, with a link to the page in the FDD. Your progress is saved, and you can ask Clara unlimited follow-up questions along the way. Clearly explains what the FDD says. It does not score the franchise or give legal advice.

Drawn from Penn Station's 2026 Franchise Disclosure Document · filed May 12, 2026.

Keep reading

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