Five Guys vs Noodles & CompanyFranchise Comparison 2026
Five Guys and Noodles & Company represent two different approaches in the QSR space. Here's how they compare on investment costs, fees, revenue potential, and market presence.
Quick Comparison
Side-by-Side Comparison
| Metric | Five Guys | Noodles & Company | Difference |
|---|---|---|---|
| Franchise Fee | $25,000 | $30,000 | -17% |
| Total Investment (Low) | $306,000 | $693,000 | -56% |
| Total Investment (High) | $641,000 | $1.5M | -56% |
| Cash Required | $300,000 | $400,000 | -25% |
| Royalty Rate | 6.0% | 5.0% | Higher |
| Advertising Fee | 1.5% | 2.5% | Lower |
| Estimated Revenue | $1.4M | $1.1M | +27% |
| Number of Locations | 1,700 | 450 | More |
| Year Founded | 1986 | 1995 | Older |
| Training Duration | 3 weeks | 5 weeks | Shorter |
Note: Data sourced from public FDD filings and industry reports. Actual costs vary by location, real estate, and format. Always review current FDD Item 7 and Item 19 disclosures before making investment decisions.
Detailed Analysis
About Five Guys
Premium burger concept with fresh ingredients and no freezers. Higher food costs but strong brand loyalty and per-unit sales.
About Noodles & Company
Global noodle dishes from Asian to Mediterranean cuisines. Fast-casual format with fresh preparation.
Investment Comparison
Five Guys requires a lower initial investment (avg $473,500) compared to Noodles & Company(avg $1.1M), making it more accessible for first-time franchisees. However, Noodles & Company may offer similar revenue potential.
Fee Structure
Both brands have similar ongoing fee structures (7.5% total), so the difference in profitability will primarily come from top-line revenue, operating efficiency, and local market conditions.
Market Position
Five Guys has a significantly larger footprint with 1,700 locations compared to Noodles & Company's 450. This larger network typically means better brand recognition, more purchasing power, and stronger operational support.
Frequently Asked Questions
How much does it cost to open a Five Guys vs Noodles & Company franchise?
Five Guys requires an initial investment of $306,000 to $641,000, while Noodles & Company requires $693,000 to $1.5M. Five Guys has the lower average investment at $473,500.
What are the ongoing fees for Five Guys vs Noodles & Company?
Five Guys charges a 6.0% royalty plus 1.5% advertising fee (7.5% total). Noodles & Company charges 5.0% royalty plus 2.5% advertising fee (7.5% total). Noodles & Company has lower total ongoing fees.
Which franchise makes more money: Five Guys or Noodles & Company?
Based on estimated average unit revenue, Five Guys generates $1.4M per location compared to $1.1M for Noodles & Company. However, profitability depends on many factors including local market, operating costs, and management.
How many locations does Five Guys have vs Noodles & Company?
Five Guys has 1,700 locations, while Noodles & Company has 450 locations. Five Guys has the larger footprint, which typically means stronger brand recognition and supply chain advantages.
Is Five Guys or Noodles & Company a better franchise investment in 2026?
Both Five Guys and Noodles & Company are established QSR brands with proven models. Five Guys offers a lower entry point, while Five Guys shows higher average revenue. The best choice depends on your available capital, local market conditions, and personal goals. Always review the current FDD before making investment decisions.
Stay Updated on Franchise Comparisons
Get detailed franchise cost analysis and investment insights delivered weekly.
QSR Intelligence Briefing
Daily insights on the QSR industry. No spam, just intelligence.