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TGI FRIDAYS
TGI Fridays operates full-service casual theme restaurants featuring a specialized menu of freshly prepared popular foods and full bar service in a distinctive atmosphere characterized by unique décor, recipes, and operational systems. The franchisor offers Development Agreements for developing multiple restaurants in defined territories and Franchise Agreements for operating individual TGI Fridays restaurants, including options for virtual restaurant participation via third-party delivery for test menu items. The target market primarily includes adults aged 21-49 in densely populated suburban or metropolitan areas near regional shopping centers.
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Franchise Costs
4% royalty + 4% ad fund + $420/mo IT service fee
Financial Performance
Item 19 Financial Performance
Data Based On: 81 franchised Friday's Restaurants open and operating as of December 30, 2024
* The document explicitly states in Note 6 to Statement 1 and 2 that 'Statement 1 and Statement 2 only include sales information for the included Fridays Restaurants, so you should not draw any inferences with respect to any Restaurant's costs and expenses or profitability because that information is not presented.' Therefore, no profit, net income, or EBITDA figures or estimates can be provided.
Extracted Item 19 Section
Avg. Revenue: $4,954,450
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Unlock financial performance dataTGI FRIDAYS Franchise Analysis
TGI Fridays built its reputation as a casual dining staple since franchising began in 1978, but a closer look at the system's scale sparks curiosity about its trajectory. Item 19 delivers revenue snapshots from existing units, while a noted bankruptcy in the history adds an layer of intrigue. Is this a resilient brand ready for revival, or a cautionary tale in a competitive sector?
Item 7 in the 2025 FDD pegs total investment at $1,408,110 to $4,516,110 for a full-service restaurant, including a $50,000 franchise fee. Ongoing fees hit 4% royalty on gross sales plus 4% brand/ad fund, plus a $420 monthly IT service fee—stacking up to notable outflows. Item 19 discloses strong top-line performance: average gross revenue of $4,954,450 per unit, though the median drops to $3,128,264, signaling a few high performers skewing the average and potential variability in earnings for new franchisees.
System health shows 81 franchised locations alongside 39 corporate-owned, a modest footprint after nearly 50 years of franchising that hints at contraction rather than expansion—especially with just 3 SBA loans on record averaging $1,190,667. The bankruptcy history is a clear red flag, likely tied to parent TGIF Holdings, LLC, underscoring past financial strains in casual dining. High barriers and revenue potential appeal to experienced operators in metro/suburban spots, but the small network and disparity in sales figures demand scrutiny before committing seven figures.
Analysis based on the 2025 Franchise Disclosure Document. All figures should be independently verified before making investment decisions.
How TGI FRIDAYS Compares
Key Insights
- Higher than average SBA loan default rate in Casual Dining
| Franchise | Investment | Fee | Royalty | Locations |
|---|---|---|---|---|
TGI FRIDAYS Current | $1.4M – $4.5M | $50K | 4.0% | 81 |
| IHOP & INTERNATIONAL HOUSE OF PANCAKES | $1.8M – $4.5M | $69K | N/A | 1,703 |
| BUFFALO WILD WINGS | $2.5M – $4.9M | $25K | 5.0% | 549 |
| GOLDEN CORRAL STEAKS, BUFFET & BAKERY | $2.1M – $8.5M | $50K | 4.0% | 352 |
| GOLDEN CORRAL | $1.5M – $6.2M | $50K | 4.0% | 344 |
| ORIGINAL PANCAKE HOUSE (THE) | $483K – $1.7M | $60K | 2.0% | 150 |
Casual Dining Average 44 franchises | $1.5M – $3.5M | $44K | 4.7% | – |
* Comparison based on latest FDD filings. Investment ranges from Item 7, fees from Item 5. Showing top 5 of 44 Casual Dining franchises by location count.
SBA Loan History
Historical SBA 7(a) loan data for TGI FRIDAYS franchisees (2011 – 2013)
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.
3 SBA loans on record
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Unlock SBA loan historyFranchisee Contacts
125 franchisee contacts on file from official FDD filings.
125 Contacts Available
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Unlock contactsDue Diligence
Litigation (Item 3)
Bankruptcy (Item 4)
Predecessor TGI Friday’s Inc. filed Chapter 11 on November 2, 2024 (ongoing). CFO Eric Easton was officer for Café Holdings Corp. et al., which filed Chapter 11 on November 16, 2018.
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 TGI FRIDAYS franchise ranges from $1,408,110 to $4,516,110. This includes a franchise fee of $50,000. Ongoing royalty fees are 4.0% of gross sales.
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