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SUBJECT DOSSIER · FDD 2026

Lee's Famous Recipe®

Quick Service Restaurants · disclosure-honesty grade · from public state filings

Disclosure honesty

B
Transparency 4 / 5

Lee's Famous Recipe® discloses earnings (Item 19) — but the grade is how honestly. We graded it B.

Outlets127
Disclosed lawsuits0
Closure signals1 ceased
Investment
$1,340,600–$2,564,000
Total fees
8% of sales
Outlets
127
Closure signals
1 ceased, 0 terminated
Lawsuits
0
◢ FINDINGS
ITEM 20
1 outlets ceased operations
Franchised outlets declined 13 units (2024), 1 unit (2025); reacquisitions indicate company buybacks.

What their own earnings claim actually says

2025 affiliate-owned location data: average gross sales $2.13M, 4-Wall EBITDAR $365K (17.1%). Top third averaged $2.81M sales, $584K EBITDAR. Only 40% met average performance.

Is Lee's Famous Recipe® worth it? — how it compares to 105 similar franchises

Ongoing fees8% of saleslower than most (median 8%)
Startup costfrom $1,340,600pricier than 86% of peers
Disclosure honestyGrade Bmore honest than 83% of quick service restaurants franchises
Closure rate0.8% of outletsbetter than most (median 1.2%)
Disclosed lawsuits0fewer than most

Benchmarked against every quick service restaurants franchise we've graded from public FDDs — the context the franchisor's pitch never gives you.

◤ CLASSIFIED · ITEM 19 RECONSTRUCTED

Owner take-home for a Lee's Famous Recipe®

The franchisor's framing: 2025 affiliate-owned location data: average gross sales $2.13M, 4-Wall EBITDAR $365K (17.1… We reconstruct what an owner actually keeps, from their own FDD.

LOW
MEDIAN
HIGH

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Lee's Famous Recipe® franchise — frequently asked

How much does a Lee's Famous Recipe® franchise cost?
The FDD lists a total initial investment of about $1,340,600–$2,564,000, including a $35,000 initial franchise fee.
How much do Lee's Famous Recipe® franchise owners make?
2025 affiliate-owned location data: average gross sales $2.13M, 4-Wall EBITDAR $365K (17.1%). Top third averaged $2.81M sales, $584K EBITDAR. Only 40% met average performance. We grade this disclosure B for honesty.
What is the Lee's Famous Recipe® franchise failure rate?
Franchised outlets declined 13 units (2024), 1 unit (2025); reacquisitions indicate company buybacks.
Is a Lee's Famous Recipe® franchise worth it?
It depends on the numbers, not the pitch. Lee's Famous Recipe® scores B on disclosure honesty, carries about 8% of sales in ongoing fees. Get the real owner take-home before you sign.

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Source: WI DFI Franchise Registration (2026). FranchiseValidate is independent and not affiliated with Lee's Famous Recipe® or its franchisor. Figures are extracted from the franchisor's own public disclosure document; verify against the current FDD before any decision.