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CHARLEYS; CHARLEYS PHILLY STEAK; CHARLEYS GRILLED SUBS
Gosh Enterprises, Inc. franchises Charleys Restaurants, quick-service to fast-casual eateries offering Philadelphia-style cheesesteaks, grilled subs, buffalo-style chicken wings, french fries, lemonade, and soft drinks under names like Charleys Philly Steaks and Charleys Grilled Subs. They provide a comprehensive system including trademarks, designs, recipes, and operational standards for CPS Restaurants in mall food courts, airports, and inline locations, and CPSW Restaurants in freestanding spots or Walmarts with expanded chicken menu items. The business targets the competitive quick-service restaurant industry, serving consumers seeking affordable, grilled hot subs and related items.
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Franchise Costs
6% royalty (greater of 6% gross sales or $300 weekly) + 1% marketing fund (part of 3-4% APO incl. local marketing) + Walmart location fixed fees approx. $7-$276/mo (technology, internet access, digital menu board support)
Financial Performance
Item 19 Financial Performance
Data Based On: 641 franchised Restaurants that were open during the entire 2024 calendar year.
* The overall average gross revenue for 'All Restaurants' was directly extracted from the provided table, and verified to be a weighted average of the sub-categories. Note 4 explicitly states that costs of sales, operating costs, and other expenses were not included, thus preventing the calculation of net income, net profit, EBITDA, or a profit range.
Extracted Item 19 Section
Avg. Revenue: $911,062
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Unlock financial performance dataCHARLEYS; CHARLEYS PHILLY STEAK; CHARLEYS GRILLED SUBS Franchise Analysis
In the crowded fast-food arena, Charleys Philly Steaks stands out with a system that's quietly expanding amid cheesesteak and grilled subs demand. Item 19 financials paint a picture of steady performance, while a surprisingly clean SBA loan record hints at franchisee resilience. But with terminations near zero and ambitious expansion plans, is this the low-risk entry into mall and airport quick-service that savvy investors have overlooked?
Item 7 details a broad initial investment range of $203,736 to $694,249, covering CPS mall/airport formats and freestanding CPSW Walmart units, with a $24,500 franchise fee. Royalty hits 6% of gross sales or $300 weekly minimum, plus 1% brand fund within a 3-4% total marketing commitment; Walmart spots add fixed $7-$276 monthly fees for tech support. Item 19 shines here: average gross revenue reaches $911,062, median $813,041 across reporting units, suggesting solid top-line potential in high-traffic spots despite competition from bigger chains. These figures imply healthy sales density for food courts, where lower buildouts keep entry barriers reasonable.
System health looks robust with 744 locations (69 corporate) up 6% from 700 in 2023, just 1 termination, 23 transfers, and 129 projected new units signaling momentum since 1991 origins. SBA stats reinforce reliability: 23 loans averaging $142,357 with only 4.3% default rate—far below category norms around 15-20%—indicating franchisees manage debt well. For investors eyeing quick-service growth without Subway-scale saturation, Charleys offers validated financials and expansion tailwinds, though Walmart dependencies and royalty floors demand volume scrutiny.
Analysis based on the 2025 Franchise Disclosure Document. All figures should be independently verified before making investment decisions.
How CHARLEYS; CHARLEYS PHILLY STEAK; CHARLEYS GRILLED SUBS Compares
Key Insights
- Lower investment than 78% of Fast Food franchises
- Lower than average SBA loan default rate in Fast Food
| Franchise | Investment | Fee | Royalty | Locations |
|---|---|---|---|---|
CHARLEYS; CHARLEYS PHILLY STEAK; CHARLEYS GRILLED SUBS Current | $204K – $694K | $25K | 6.0% | 744 |
| 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
+34 more states
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Unlock location growth dataSBA Loan History
Historical SBA 7(a) loan data for CHARLEYS; CHARLEYS PHILLY STEAK; CHARLEYS GRILLED SUBS franchisees (2010 – 2016)
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.
23 SBA loans on record
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Unlock SBA loan historyFranchisee Contacts
834 franchisee contacts on file from official FDD filings.
834 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 CHARLEYS; CHARLEYS PHILLY STEAK; CHARLEYS GRILLED SUBS franchise ranges from $203,736 to $694,249. This includes a franchise fee of $24,500. Ongoing royalty fees are 6.0% of gross sales.
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