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CAPRIOTTI'S SANDWICH SHOP & CAPRIOTTI'S
Capriotti’s Sandwich Shop franchises operate casual retail restaurants serving submarine sandwiches, deli items, and related products in sit-down, take-out, or virtual kitchen formats using a proprietary system that includes specific recipes, decor, uniforms, and operational procedures for consistency and quality. The business model involves granting licenses to use their trademarks and marks to franchisees who must adhere to standards outlined in the operations manual, with options for single-unit or multi-unit development rights. They target the general public seeking affordable, great-tasting fast-casual submarine sandwiches amid competition from other sandwich shops.
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Franchise Costs
7% royalty (6% for 3+ stores) + 2% marketing fund + $25/mo Service Management Group fee
Financial Performance
Item 19 Financial Performance
Data Based On: 120 franchised restaurants open during all of 2024
* Average Gross Revenue, Median Gross Revenue, Revenue Top Quartile, and Revenue Bottom Quartile are directly extracted from the '2024 Results for All Franchised Restaurants Open During all of 2024' column on Page 3. The average EBITDA, EBITDA margin percentage, and best guess profit range for franchised units are estimated by applying the EBITDA margin derived from the 'Average of 10 Affiliate-Owned Restaurants' data (Page 6, using the 7% Royalty Fee rate as applicable to a single franchisee) to the franchised average gross revenue. The affiliate-owned average sales used for this calculation were $1,011,285 and the corresponding EBITDA was $143,864, resulting in an EBITDA margin of approximately 14.23%. This margin was then applied to the franchised average gross revenue of $835,358 to estimate the franchised average EBITDA. As no range for expenses or profit was explicitly provided for franchised units, the estimated EBITDA is used for both the low and high profit guesses.
Extracted Item 19 Section
Avg. Revenue: $835,358
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Unlock financial performance dataCAPRIOTTI'S SANDWICH SHOP & CAPRIOTTI'S Franchise Analysis
From its roots crafting oversized, flavor-packed subs in the Philly area before Vegas HQ takeover, Capriotti's Sandwich Shop has built a loyal following in fast-casual dining since franchising in 2008. The 2025 FDD's Item 19 disclosure promises transparency on unit financials, while support for virtual kitchen models hints at adaptability in a delivery-driven world. But with a recent system contraction, does this sandwich specialist deliver the growth punch buyers crave?
Item 7 lays out a substantial entry: $594,700 to $935,000 total investment, anchored by a $40,000 franchise fee, covering buildout for sit-down, takeout, or virtual setups. Ongoing costs include a 7% royalty (reduced to 6% on three-plus stores), 2% marketing fund, and $25 monthly service fee. Item 19 shines with average gross revenue of $835,358 and median $803,670 across 112 comparable units, but the 0% EBITDA margin and flat $118,837 estimated profit signal razor-thin operations after royalties, labor, and food costs—real earnings hinge on volume and cost discipline.
At 138 franchise and 15 corporate locations, the system shed 5 units (-3%) from 143 in 2023, yet projects 25 openings ahead amid 2 transfers indicating low turnover. SBA data bolsters appeal: 62 loans averaging $420,376 show lender confidence for funding. Buyers eyeing this must probe Item 19's store-level variances, closure stats in Item 20, and multi-unit discounts' impact—strong AUV tempts, but contraction and nil margins demand proof of rebound trajectory before committing.
Analysis based on the 2025 Franchise Disclosure Document. All figures should be independently verified before making investment decisions.
How CAPRIOTTI'S SANDWICH SHOP & CAPRIOTTI'S Compares
Key Insights
- Higher than average SBA loan default rate in Fast Food
| Franchise | Investment | Fee | Royalty | Locations |
|---|---|---|---|---|
CAPRIOTTI'S SANDWICH SHOP & CAPRIOTTI'S Current | $595K – $935K | $40K | 7.0% | 138 |
| MCDONALD'S | $1.5M – $2.6M | $45K | N/A | 12,772 |
| LITTLE CAESARS | $377K – $1.8M | $20K | 6.0% | 3,788 |
| AFC | $45K – $151K | $6K | 9.5% | 3,572 |
| KFC (NON-TRADITIONAL) | $1.2M – $4.2M | $45K | N/A | 3,404 |
| SONIC DRIVE-IN | $1.5M – $2.5M | $15K | 5.0% | 3,120 |
Fast Food Average 132 franchises | $602K – $1.6M | $35K | 6.1% | – |
* Comparison based on latest FDD filings. Investment ranges from Item 7, fees from Item 5. Showing top 5 of 132 Fast Food franchises by location count.
Locations & Growth
Outlet Growth Over Time
Total outlets at end of each year
Geographic Distribution (2024)
Outlets by state across the United States
+16 more states
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Unlock location growth dataSBA Loan History
Historical SBA 7(a) loan data for CAPRIOTTI'S SANDWICH SHOP & CAPRIOTTI'S franchisees (2011 – 2025)
Loans by Year
SBA 7(a) loan activity over time
* Data sourced from SBA 7(a) FOIA loan records. Default rate calculated from charged-off loans.
62 SBA loans on record
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Unlock SBA loan historyFranchisee Contacts
171 franchisee contacts on file from official FDD filings.
171 Contacts Available
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Unlock contactsDue Diligence
Litigation (Item 3)
Bankruptcy (Item 4)
System Health (Item 20)
Franchise system changes reported in the most recent fiscal year
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Unlock due diligence reportsFrequently Asked Questions
The total initial investment to open a CAPRIOTTI'S SANDWICH SHOP & CAPRIOTTI'S franchise ranges from $594,700 to $935,000. This includes a franchise fee of $40,000. Ongoing royalty fees are 7.0% of gross sales.
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