Carvel
Source filing: WI · filed 2026-03-31
Item 5 — Initial franchise fee
$35,500 [p.29 · WI · 2026-03-31]
Item 6 — Recurring fees (royalty & advertising)
| Royalty Fee | See FDD [p.32 · WI · 2026-03-31] |
|---|---|
| Advertising Contribution | See FDD [p.32 · WI · 2026-03-31] |
| Advertising Cooperative Contribution | See FDD [p.32 · WI · 2026-03-31] |
| Promotions and Advertising Materials | See FDD [p.33 · WI · 2026-03-31] |
Full Item 6 schedule (including one-time and conditional fees) is in the FDD itself.
Item 7 — Estimated initial investment (total)
$428,405 [p.45 · WI · 2026-03-31] – $1,051,200 [p.45 · WI · 2026-03-31]
Base single-franchise offering as stated in the FDD's total row. Multi-unit or area-development formats are not broken out here.
Item 20 — Outlets
| Franchised outlets at start of year | 336 [p.94 · WI · 2026-03-31] |
|---|---|
| Franchised outlets at end of year | 359 [p.94 · WI · 2026-03-31] |
| Net change in franchised outlets | 23 [p.94 · WI · 2026-03-31] |
| Transfers | 10 [p.95 · WI · 2026-03-31] |
| Terminations | 8 [p.97 · WI · 2026-03-31] |
| Non-renewals | 4 [p.97 · WI · 2026-03-31] |
| Ceased operations (other) | Not disclosed |
| Company-owned outlets at end of year | 1 [p.94 · WI · 2026-03-31] |
Item 19 — Financial performance representation
Headline cohort
Total - All Eligible Streetside Franchises FY2025 · Fiscal Year 2025 (ended December 28, 2025)
| Outlets in sample | Average | Median | High | Low |
|---|---|---|---|---|
| 104 [p.93 · WI · 2026-03-31] | $496,287 [p.93 · WI · 2026-03-31] | $469,711 [p.93 · WI · 2026-03-31] | $1,458,901 [p.93 · WI · 2026-03-31] | $83,828 [p.93 · WI · 2026-03-31] |
All disclosed cohorts (5)
| Cohort | Outlets | Average | Median | High | Low |
|---|---|---|---|---|---|
| Top Quartile - Eligible Streetside Franchises FY2025 Fiscal Year 2025 (ended December 28, 2025) |
26 [p.93 · WI · 2026-03-31] | $779,624 [p.93 · WI · 2026-03-31] | $706,810 [p.93 · WI · 2026-03-31] | $1,458,901 [p.93 · WI · 2026-03-31] | $611,816 [p.93 · WI · 2026-03-31] |
| 2nd Quartile - Eligible Streetside Franchises FY2025 Fiscal Year 2025 (ended December 28, 2025) |
26 [p.93 · WI · 2026-03-31] | $530,852 [p.93 · WI · 2026-03-31] | $522,384 [p.93 · WI · 2026-03-31] | $611,087 [p.93 · WI · 2026-03-31] | $471,030 [p.93 · WI · 2026-03-31] |
| 3rd Quartile - Eligible Streetside Franchises FY2025 Fiscal Year 2025 (ended December 28, 2025) |
26 [p.93 · WI · 2026-03-31] | $425,983 [p.93 · WI · 2026-03-31] | $431,058 [p.93 · WI · 2026-03-31] | $468,392 [p.93 · WI · 2026-03-31] | $368,609 [p.93 · WI · 2026-03-31] |
| Bottom Quartile - Eligible Streetside Franchises FY2025 Fiscal Year 2025 (ended December 28, 2025) |
26 [p.93 · WI · 2026-03-31] | $248,690 [p.93 · WI · 2026-03-31] | $251,614 [p.93 · WI · 2026-03-31] | $351,316 [p.93 · WI · 2026-03-31] | $83,828 [p.93 · WI · 2026-03-31] |
| Total - All Eligible Streetside Franchises FY2025 Fiscal Year 2025 (ended December 28, 2025) |
104 [p.93 · WI · 2026-03-31] | $496,287 [p.93 · WI · 2026-03-31] | $469,711 [p.93 · WI · 2026-03-31] | $1,458,901 [p.93 · WI · 2026-03-31] | $83,828 [p.93 · WI · 2026-03-31] |
“Some Shoppes have sold or earned this amount. Your individual results may differ. There is no assurance that you will sell or earn as much.” [p.93 · WI · 2026-03-31]
Extraction notes
- Item 7 totals were extracted with model assistance and verified against the cited page.