CHILI'S AND CHILI'S GRILL & BAR

Item 7 lays out a hefty $3,959,695-$6,354,695 initial investment for these full-service spots in high-traffic zones, dwarfing many casual dining peers at $1M-$3M ranges—think buildout, equipment, and inventory for fajitas, ribs, and full bars. Fees stack uniquely: $60,000 franchise fee, 1.25% royalty, 2.75% technical services, 2.22% national ad fund, and 0.5% advertising production, totaling ~6.72% ongoing—low royalty but high extras versus category norms of 5% combined. No Item 19 means no AUV or profit transparency, forcing reliance on Brasker's public filings (corporate AUV ~$2.5M) and one SBA loan averaging $415,700, hinting sparse financing appeal.

System size skews heavily corporate at 1,109 owned versus 99 franchised, up just +2% from 97 units (2024-2025), with 5 projected opens signaling cautious expansion since 1984. Minimal SBA activity flags low franchisee uptake, possibly due to Brasker's control preference amid industry headwinds like labor costs and delivery shifts. Transfers/terminations undisclosed here but litigation scans clean; for deep-pocketed operators eyeing suburbs/malls, it's stable but saturated—high barriers suit experienced restaurateurs, not newcomers chasing quick flips.