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Wetzel's Pretzels vs Freddy's — which franchise is the better buy?

Side by side from the public FDDs — no franchisor spin.

	Wetzel's Pretzels	Freddy's
Disclosure honesty	B	C
Investment from	$188,500	$854,834
Total fees	8%	7.5%
Outlets	458	580
Lawsuits	1	0

Wetzel's Pretzels: what their numbers say

Discloses average/median/high/low Adjusted Gross Revenue by location type and P&L data for regional/outlet mall stores showing avg net operating income ~$190K. Excludes new stores, affiliate units, incomplete reporters; no owner salary deducted from labor.

Freddy's: what their numbers say

Discloses gross receipts, cost of sales, labor, controllable/non-controllable expenses, and 4-wall EBITDA for company-owned Midwest restaurants only. Excludes rent, depreciation, above-restaurant overhead, and franchise-specific costs; not representative of franchisee results.

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