McDonald's vs. Taco Bell vs. Wingstop
Three large QSR systems where investment, Item 19 format and unit availability differ sharply. Every figure below comes from each brand’s own Franchise Disclosure Document, with its evidence tier. Where a brand did not disclose something, the cell says so.
McDonald's (2026 FDD) lists a total initial investment of $1,472,000 to $2,807,000. Its royalty is not a simple percent of sales (see profile). Item 19 reports average unit sales of $4,057,000 across 12,212 units for CY2025. Franchised outlets moved from 12,764 to 13,062 between 2023 and 2025 (+298), with 516 openings, 218 exits and 2243 transfers. Evidence confidence: High.
Taco Bell (2026 FDD) lists a total initial investment of $1,859,750 to $4,312,200, including real estate. Royalty plus ad fund total 9.8% of sales. Item 19 is present but discloses no single annual average. Franchised outlets moved from 7,056 to 7,335 between 2023 and 2025 (+279), with 515 openings, 236 exits and 370 transfers. Evidence confidence: High.
Wingstop (2026 FDD) lists a total initial investment of $310,400 to $1,048,500. Royalty plus ad fund total 11.5% of sales. Item 19 reports average unit sales of $2,007,626 across 2,116 units for 2025-12-27. Franchised outlets moved from 1,678 to 2,529 between 2023 and 2025 (+851), with 868 openings, 17 exits and 274 transfers. Evidence confidence: High.
| Metric | McDonald's | Taco Bell | Wingstop |
|---|---|---|---|
| Overview | |||
| Category | Food & QSR FDD | Food & QSR FDD | Food & QSR FDD |
| FDD year | 2026 FDD | 2026 FDD | 2026 FDD |
| Total outlets (latest FY) | 13,706 FDD | 7,998 FDD | 2,586 FDD |
| Investment | |||
| Total investment (Item 7) | $1,472,000 – $2,807,000 FDD | $1,859,750 – $4,312,200 FDD | $310,400 – $1,048,500 FDD |
| Initial franchise fee (named Item 5 fee only) | $45,000 FDD | $45,000 FDD | $25,000 FDD |
| Fees | |||
| Royalty | 4% FDD | 5.5% FDD | 6% FDD |
| Ad / brand fund | Not disclosed N/D | 4.3% FDD | 5.5% FDD |
| Royalty + ad fund Sum where both are a percent of sales |
Not comparable N/D | 9.8% Derived | 11.5% Derived |
| Disclosed performance | |||
| Item 19 present | Yes FDD | Yes FDD | Yes FDD |
| Average unit sales (annual) Populations differ by brand — read each profile |
$4,057,000 FDD | No annual average disclosed N/D | $2,007,626 FDD |
| Median unit sales | $3,887,000 FDD | Not disclosed N/D | $1,890,866 FDD |
| Cost / profit data in Item 19 | Yes (see profile for population) FDD | No FDD | No FDD |
| AUV ÷ midpoint investment | 1.90× Derived | Not enough evidence N/D | 2.95× Derived |
| System health (Item 20) | |||
| Franchised unit change | +298 (+2.3%) 2023–2025 Derived | +279 (+4.0%) 2023–2025 Derived | +851 (+50.7%) 2023–2025 Derived |
| Openings (period) | 516 FDD | 515 FDD | 868 FDD |
| Exits (period) Terminations + non-renewals + reacquisitions + ceased-other |
218 Derived | 236 Derived | 17 Derived |
| Avg. annual attrition | 0.6% Derived | 1.1% Derived | 0.3% Derived |
| Transfers (period) | 2243 FDD | 370 FDD | 274 FDD |
| Operations | |||
| Owner involvement (Item 15) | Owner-operator required FDD | Owner-operator required FDD | Manager-run permitted FDD |
| Multi-unit program disclosed | Not disclosed / not offered N/D | Yes FDD | Yes FDD |
| Estimates | |||
| Economics model available | Yes — model estimate on profile | No (insufficient disclosure) | Yes — model estimate on profile |
| Ratings | |||
| Financial Disclosure Quality | 4 / 5 Derived | 4 / 5 Derived | 3 / 5 Derived |
| System Growth | 3 / 5 Derived | 3 / 5 Derived | 5 / 5 Derived |
| Unit Stability | 5 / 5 Derived | 5 / 5 Derived | 5 / 5 Derived |
| Investment Efficiency | 4 / 5 Derived | Not enough evidence Derived | 5 / 5 Derived |
| Evidence Confidence | High Derived | High Derived | High Derived |
Populations behind AUV figures differ (mature units, all units, gross vs. net sales). Growth and attrition are our arithmetic on Item 20. Open each profile for citations, caveats and the full Item 19 and Item 20 tables. Edit this comparison to swap brands.