Captain D's
Captain D’s franchises fast-casual seafood restaurants offering freshly-prepared, high-quality items like signature hand-battered fried fish, grilled fish, shrimp, chicken, and home-style side dishes such as hushpuppies, coleslaw, and okra. The business model involves development agreements for multiple locations and individual franchise agreements for each restaurant prototype, including traditional 32-44 seat models, express, endcap, and inline formats. They target consumers in the competitive fast-food market seeking quick, affordable seafood meals in 24 U.S. states.
Disclaimer: This information was extracted using AI from public Franchise Disclosure Documents and should be independently verified. This is not financial or legal advice. Always review official FDD filings before making investment decisions.
Overview
Financial Requirements
4.5% royalty + 1% ad fund + $236/mo technology fee
Franchise Stats
Financial Performance
Item 19 Financial Performance
Data Based On: 214 franchised restaurants in operation continuously during our fiscal year ended December 29, 2024
* The average gross revenue and median gross revenue for franchised units are directly extracted from the 'Franchised Comparable Restaurants' table on page 3. The 'revenue_top_quartile' and 'revenue_bottom_quartile' are taken from the 'Average Gross Sales' of the 'Top Third' and 'Bottom Third' segments for franchised restaurants, respectively. No explicit 'average_net_income', 'average_net_profit', or 'average_ebitda' figures are provided for franchised units. To estimate 'best_guess_profit_low' and 'best_guess_profit_high' for a franchisee, the 'Proforma Restaurant Contribution Before Occupancy (EBITDAR)' percentages for company-owned restaurants (from page 4) were used as a proxy, adjusted for royalty fees. The document states on page 2 (Point 7a) and page 4 (footnote) that company-owned restaurants do not pay royalty fees, which are 4.5% of gross sales for franchisees. - The Top Third company-owned EBITDAR margin was 31.36%. Adjusted for a 4.5% franchisee royalty fee, this becomes 26.86% (0.3136 - 0.045). - The Bottom Third company-owned EBITDAR margin was 13.20%. Adjusted for a 4.5% franchisee royalty fee, this becomes 8.70% (0.1320 - 0.045). These adjusted margins were then applied to the overall franchised average gross revenue of $1,084,389 to derive the profit range: - best_guess_profit_high = $1,084,389 * 0.2686 = $291,266.89 - best_guess_profit_low = $1,084,389 * 0.0870 = $94,341.84
Extracted Item 19 Section
How Captain D's Compares to Other Fast Casual Franchises
Key Insights
- Higher investment than 87% of Fast Casual franchises
- Top 10 largest franchise system in Fast Casual
- Lower than average SBA loan default rate in Fast Casual
| Franchise | Investment Range | Franchise Fee | Royalty | Locations |
|---|---|---|---|---|
Captain D's Current | $899K - $1.4M | $35K | 4.5% | 237 |
| Tropical Smoothie Cafe | $300K - $721K | $35K | 6.0% | 1,371 |
| TROPICAL SMOOTHIE CAFÉ | $300K - $721K | $35K | 6.0% | 1,371 |
| FIREHOUSE SUBS RESTAURANTS (UNIT) | $379K - $1.4M | $20K | 6.0% | 1,248 |
| Zaxby's | $1.4M - $3.8M | $35K | 6.0% | 826 |
| Qdoba | $548K - $1.3M | $40K | 5.0% | 652 |
Fast Casual Average 107 franchises | $532K - $1.2M | $39K | 5.6% | - |
* Comparison based on latest FDD filings. Investment ranges from Item 7, fees from Item 5. Showing top 5 of 107 Fast Casual 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
+6 more states
SBA Loan History
Historical SBA 7(a) loan data for Captain D's franchisees (2012 - 2025)
Loans by Year
* Data sourced from SBA 7(a) FOIA loan records. Default rate calculated from charged-off loans.
Franchisee Contacts
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Due Diligence
Litigation (Item 3)
No litigation involving franchisees reported in the FDD.
Bankruptcy (Item 4)
No bankruptcy history reported in the FDD.
System Health (Item 20)
Franchise system changes reported in the most recent fiscal year
Frequently Asked Questions
How much does it cost to open a Captain D's franchise?
The total initial investment to open a Captain D's franchise ranges from $898,600 to $1,354,200. This includes a franchise fee of $35,000. Ongoing royalty fees are 4.5% of gross sales.
How much revenue does a Captain D's franchise make?
According to the 2025 FDD, the average gross revenue for a Captain D's franchise is $1,084,389. The median revenue is $1,016,889.
How much profit can you make with a Captain D's franchise?
Based on the financial performance data in the FDD, estimated profit for a Captain D's franchise ranges from $94,341.84 to $291,266.89 per year. Actual results vary based on location, management, and market conditions.
How many Captain D's franchise locations are there?
As of the 2025 FDD, Captain D's has 237 franchise locations. The company has been franchising since 2000.
Can you get an SBA loan for a Captain D's franchise?
Yes, SBA loans are available for Captain D's franchises. Historical data shows 23 SBA 7(a) loans have been approved for Captain D's franchisees, with an average loan amount of $914,057. The historical default rate is 8.7%.
Is Captain D's a good franchise to buy?
Captain D's shows several positive indicators: established brand with 237+ locations, transparent financial performance data (Item 19), low SBA loan default rate. However, franchise success depends on many factors including location, local market conditions, and owner involvement. We recommend speaking with existing franchisees and consulting with a franchise attorney before making a decision.
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