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DQ

DAIRY QUEEN

Dairy Queen is a franchise specializing in soft-serve ice cream products like Blizzards and sundaes, along with fast food items such as burgers, fries, and chicken. This specific FDD pertains to DQ of MT/ND, operating a regional franchising model for locations in Montana and North Dakota. The target market includes families, youth, and customers seeking quick, indulgent treats and casual meals.

74locations
$623K–$2782K
Food & BeverageDisclaimer

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Franchise Costs

Franchise Fee
$25,000
Initial Investment
$623,000 – $2,782,200
Royalty Rate
4.00%
Brand Fund
5.00%
Fixed Monthly Fees
$110 – $213

4% royalty (Grill & Chill) or 5% (Treat) + 3-6% sales promotion (ad fund) + $10-80/mo internet + $1,200-1,600 annual ($100-133/mo) EPOS software support

Financial Performance

Item 19 Financial Performance

Average Gross Revenue
$1,615,815
Median Gross Revenue
$1,534,470

Data Based On: 40 subfranchised free-standing DQ Grill & Chill restaurants that operated in Montana and North Dakota during the entire 2024 calendar year.

* Extracted 2024 financial performance data as it is the most recent year presented. The document explicitly states that 'Gross Sales do not reflect cost of goods or services sold; operating expenses such as payroll, rent and office expenses; or other expenses, such as amortization, depreciation, income tax, or other tax or debt service expenses.' Therefore, no profit, net income, or EBITDA figures could be derived or estimated.

Extracted Item 19 Section

Avg. Revenue: $1,615,815

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DAIRY QUEEN Franchise Analysis

Blizzard-fueled fast food meets regional resilience in Dairy Queen's Montana/North Dakota model. Item 19 lays bare revenue performance that punches above its ice cream roots, while a deep SBA loan history signals rock-solid financing outcomes. Yet with modest system size and sparse transfers, does this upper Midwest play demand a closer look to separate treat from treasure?

Item 7 pegs initial investment at $623,000-$2,782,200, covering buildouts for Grill & Chill or Treat-only formats—think $25,000 franchise fee plus equipment, real estate, and inventory. Ongoing fees from Item 6 hit 4% royalty for Grill & Chill or 5% for Treat centers, plus 3-6% ad fund, $10-80/month internet, and $1,200-$1,600 annual EPOS support. Item 19 shines brightest: average gross sales $1,615,815, median $1,534,470 across comparable outlets, suggesting strong top-line potential in family-driven markets craving quick indulgences.

System health via Item 20 shows 74 locations with just 7 transfers, hinting at sticky ownership amid stable operations. SBA stats impress—581 loans averaging $578,958 and a tiny 1.6% default rate—proving banks back DQ franchisees heavily with minimal risk. For investors eyeing $1.6M+ revenue against multimillion startup costs, this regional setup offers proven cash flow in loyal territories, but weather volatility and competition warrant scrutinizing local demographics before committing.

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Analysis based on the 2026 Franchise Disclosure Document. All figures should be independently verified before making investment decisions.

How DAIRY QUEEN Compares

FranchiseInvestmentFeeRoyaltyLocations
DAIRY QUEEN
Current
$623K – $2.8M$25K4.0%74
MCDONALD'S$1.5M – $2.6M$45KN/A12,772
LITTLE CAESARS$377K – $1.8M$20K6.0%3,788
AFC$45K – $151K$6K8.0%3,572
KFC (NON-TRADITIONAL)$1.2M – $4.2M$45KN/A3,404
SONIC DRIVE-IN$1.5M – $2.5M$15K5.0%3,120
Fast Food Average
133 franchises
$598K – $1.6M$35K6.1%–

* Comparison based on latest FDD filings. Investment ranges from Item 7, fees from Item 5. Showing top 5 of 133 Fast Food franchises by location count.

SBA Loan History

Historical SBA 7(a) loan data for DAIRY QUEEN franchisees (2010 – 2025)

Total Loans
581
Average Loan
$578,958
Total Volume
$336.4M
Default Rate
1.6%

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.

581 SBA loans on record

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Franchisee Contacts

423 franchisee contacts on file from official FDD filings.

423 Contacts Available

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Due Diligence

Litigation (Item 3)

Franchisee Cases0
No litigation involving franchisees reported

Bankruptcy (Item 4)

Bankruptcy HistoryNo
No bankruptcy history reported

System Health (Item 20)

Franchise system changes reported in the most recent fiscal year

Terminations
0
Non-Renewals
0
Reacquired
0
Ceased Ops
0
Transfers
7
Sold to Franchisees
0
Projected New
0

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Frequently Asked Questions

The total initial investment to open a DAIRY QUEEN franchise ranges from $623,000 to $2,782,200. This includes a franchise fee of $25,000. Ongoing royalty fees are 4.0% of gross sales.