The 2026 Qdoba Mexican Eats FDD holds the Item 7 estimated initial investment range at $548,100–$1,294,000, and the system holds at 827 outlets year-over-year. Both filings include an Item 19 financial performance representation.
| 2025 FDD | 2026 FDD | Change | |
|---|---|---|---|
| Low end of range | $548,100 | $548,100 | unchanged |
| High end of range | $1,294,000 | $1,294,000 | unchanged |
| Full range | $548,100–$1,294,000 | $548,100–$1,294,000 |
The Item 7 estimated initial investment range matches across both filings at $548,100–$1,294,000.
2025 filing: Item 7 also provides a separate initial investment range for non-traditional restaurants ($234,500 to $898,000, excluding real property and liquor license costs). 2026 filing: Item 7 provides separate total estimated cost ranges for traditional and non-traditional restaurants; the initial_investment field here reflects the traditional restaurant total (excluding real property and liquor license costs).
| 2025 FDD | 2026 FDD | Change | |
|---|---|---|---|
| Total outlets (Item 20) | 827 | 827 | unchanged |
| Franchised outlets | 652 | 652 | unchanged |
| Company-owned outlets | 175 | 175 | unchanged |
| Openings during the year | 66 | 66 | unchanged |
| Closures during the year | 3 | 12 | +9 |
Qdoba Mexican Eats reports 827 outlets in both filings: system size is unchanged year-over-year.
Outlet counts as each filing states them — 2025: As of September 28, 2025 (system counts in Item 1 and Item 20 tables for FY 2025 end of year); 2026: Fiscal year 2025 (end of year). Openings/closures are from Item 20 Tables 3 and 4 totals for fiscal 2025: franchised outlets opened (57) plus company-owned outlets opened (9); franchised ceased operations (9) plus company-owned outlets closed (3). Transfers are from Item 20 Table 2 total transfers in fiscal 2025.
Qdoba Mexican Eats included an Item 19 financial performance representation in both the 2025 and 2026 filings. The 2026 filing discloses financial performance, broken out across 7 outlet segments for FY 2023 (10/3/2022-10/1/2023), FY 2024 (10/2/2023-9/29/2024), FY 2025 (9/30/2024-9/28/2025); and trailing twelve months ended (various end dates up to 9/28/2025) / TTM ended 9/28/2025.
| 2025 FDD | 2026 FDD | Change | |
|---|---|---|---|
| Standard royalty rate | 5% | 5% | unchanged |
The standard royalty rate holds at 5% of gross sales across both filings.
2026 filing: Gross sales excludes sales/use tax, certain Company-approved discounts or refunds; special adjustment described if alcohol royalties are prohibited by law. Non-traditional sites: 6% (lower rates in unusual situations).