Five Guys

Freddy's Frozen Custard: the premium burger value play

550 locations, $1.88M AUV, and 70% of new openings from existing franchisees. How Freddy's combines burgers and custard for franchisee profitability.

March 20, 2026

Wendy's Project Fresh: Anatomy of a QSR Turnaround

Wendy's is closing 6% of its U.S. restaurants and launching a sweeping operational overhaul called Project Fresh. For the number-three burger chain, the stakes could not be higher.

March 20, 2026

How Culver's Quietly Became the Midwest's Most Profitable Franchise

Culver's average unit volume hit $3.69 million in 2024, with locations near interstates generating $3.7 million. The chain grew to over 1,000 locations while keeping its franchise model uniquely operator-focused. Here is how butter burgers built a billion-dollar system.

March 20, 2026

Culver's: the Midwest's best-kept QSR secret

1,000+ locations, $4.2M AUV, and a franchisee selection process tougher than most MBA programs. How Culver's grew without compromising ButterBurgers or frozen custard quality.

March 20, 2026

Whataburger: why Texas won't share its burger chain

How BDT Capital turned a regional cult favorite into a controlled national expansion - 88 new stores in 2024, $3.54M AUV, and a $6B+ valuation built on Texas identity.

March 20, 2026

Why QSR Customers Are Trading Down From Fast Casual

March 20, 2026