Should I open or buy a Popeyes franchise in 2027?

By Kory White · Updated Nov 2026 · 6 min read

A free-standing Popeyes Louisiana Kitchen restaurant with an orange stucco exterior and red metal awnings in Indianapolis

Direct answer

Popeyes does not publish a franchise fee, investment range or net worth requirement on its own franchising site, so none is quoted here. The Popeyes franchising page, read on November 8, 2026, lists an application process and says the company seeks entrepreneurs with a proven record of operating their own businesses, preferably in quick service, but its question "How much will it cost to open a Popeyes?" shows no answer text. The page also says an offer to sell a franchise can only be made through a Franchise Disclosure Document (FDD). I could not read the Popeyes FDD on an official or state-regulator host, and figures from third-party sites are not used on this page.

What the owner, Restaurant Brands International (RBI), does publish points to a brand under pressure. In its third-quarter 2026 release (October 29, 2026), Popeyes U.S. comparable sales fell 2.2% and were down 4.6% for the first nine months of 2026. In its full-year 2025 release, RBI estimated U.S. Popeyes franchisee four-wall profitability at $235K for 2025, down from $255K in 2024. Those are rounded, unaudited, self-reported estimates at restaurant level, not a promise of what a new owner earns.

Whether it is a good buy depends on the site, the price, your financing and the FDD you are handed, none of which this page can see. It is not financial advice: get the FDD, call current franchisees and talk to a franchise attorney before you pay or sign anything.

What Popeyes says about becoming a franchisee

Popeyes' own franchising site (franchising.popeyes.com), read on November 8, 2026, says it is "currently looking to develop throughout the United States and Canada". It publishes the steps of its process and nothing on money.

Step 1: online applicationSubmitted through the Apply Now link
Step 2: discovery callShare your professional background and aspirations
Step 3: application reviewQSR operations expertise, background and credit checks, business plan, legal entity documentation
Step 4: leadership team interviewIn person with the Popeyes leadership team
Step 5: final approvalThen franchisee training and site selection
Published net worth, liquidity or fee figuresNone on the franchising site

The page says it seeks "savvy entrepreneurs" with a proven operating record, preferably in quick service. It does not state a minimum number of restaurants, a net worth or a liquid capital requirement, so do not rely on requirement figures quoted elsewhere. The site's franchising contact is franchising@popeyes.com.

The franchising page still says Popeyes has "over 2,700 restaurants in North America". RBI's more recent filings report a larger count (below), so treat the page's marketing numbers as dated and use the filings.

How big is the brand, and which way is it moving

RBI's 2025 Form 10-K describes Popeyes as the world's second largest quick service chicken concept by restaurant count, with 5,413 restaurants worldwide at December 31, 2025: 3,578 in the U.S. and Canada and 1,835 international, across 51 countries and territories. The same filing says over 95% of RBI's restaurants overall are franchised; it gives no Popeyes-only split.

Popeyes restaurants worldwide, Dec 31, 20255,413 (3,578 U.S. and Canada; 1,835 international)
U.S. and Canada restaurants, Sep 30, 20263,542 (3,541 a year earlier)
U.S. comparable sales, full-year 2025-2.9% (2024: +0.6%)
U.S. comparable sales, Q3 2026-2.2%
U.S. comparable sales, first nine months of 2026-4.6%
Net restaurant growth, Q3 and nine months 20260.0%
System-wide sales, full-year 2025$6,076M (2024: $6,124M)

These come from RBI's full-year 2025 release and third-quarter 2026 release. The Popeyes segment count of 3,542 at September 30, 2026 was level with 3,541 a year earlier, and RBI reported net restaurant growth of 0.0%, against 2.2% in the third quarter of 2025. The release attributes lower Popeyes operating income to lower comparable sales and higher segment G&A. In RBI's own words in the 10-K, "franchisee profitability is critical" to growing its brands.

What franchisees earn, according to RBI

RBI's full-year 2025 release includes a Home Market Franchisee Profitability table. For Popeyes in the U.S., it estimates four-wall (restaurant-level) profitability of $235K in 2025, $255K in 2024 and $245K in 2023. The footnote calls these "rounded estimates based on unaudited, self-reported franchisee results."

Popeyes U.S. franchisee four-wall profitability, 2025$235K
Popeyes U.S. franchisee four-wall profitability, 2024$255K
Popeyes U.S. franchisee four-wall profitability, 2023$245K

Read this narrowly. It is an estimate across U.S. franchisees, so it does not describe a new restaurant, a particular market or an owner's take-home after debt service, owner salary or taxes. It is also not an FDD financial performance representation. To underwrite a specific restaurant, ask for that restaurant's records.

Fees, royalty and advertising: what is and is not published

RBI's 10-K gives ranges that cover its brands, not Popeyes alone. It says royalties for standard restaurants in the U.S. and Canada typically range from 3.0% to 6.0% of gross sales, and that advertising fund contributions range from 2.0% to 5.0% of gross sales. U.S. and Canada franchise agreements generally have a 10-year or 20-year initial term, with renewals of 5 to 20 years on payment of a further franchise fee.

Those ranges are company-wide. The filing gives no Popeyes-specific franchise fee, royalty rate, advertising rate or investment range, and Popeyes' own site gives none either. The exact numbers are in Items 5, 6 and 7 of the Popeyes FDD. Do not budget from a range that is not Popeyes-specific, or from a website that is not Popeyes or RBI.

How to get the Popeyes FDD and check Item 19

A franchisor must give you its disclosure document at least 14 calendar days before you sign a binding agreement or pay, according to the FTC Franchise Rule compliance guide. Popeyes' site says an offer can only be made through delivery of an FDD. The practical route is to apply through the franchising site, which starts the process above, or to write to franchising@popeyes.com.

Read Items 5, 6 and 7. They state the initial franchise fee, ongoing royalty and advertising payments, and the estimated initial investment.
Read Item 19. If the FDD includes a financial performance representation, it appears here, with the basis for it. I could not read Popeyes' FDD on an official or regulator host, so I cannot say what it includes. If Item 19 is silent, treat any earnings figure from a salesperson as unverified and ask for it in writing.
Read Items 3, 12, 17 and 20. Litigation, territory, term and renewal, and the outlet list with franchisee contacts.
Call franchisees. Ask current and former owners in your target market about sales trends, remodel demands and what they would do differently.

This page is not financial advice. Have a franchise attorney and an accountant read the FDD before you pay or sign.

Open new or buy an existing Popeyes

The franchising site describes only a development route: apply, be approved, then begin training and site selection. It does not describe a resale process. RBI's 10-K says the company plans to refranchise most of its Company-owned restaurants over the coming years, which suggests restaurants may come to market, but the filing does not say when or how. If you want an existing restaurant, ask Popeyes how transfers are approved and what the FDD says about transfer fees.

Develop a new restaurant. You pick the market with Popeyes, find the site, fund construction and own the opening risk. Popeyes says the areas it is developing keep changing.
Buy an existing restaurant. You get sales history to check, but you need the seller's records and Popeyes' approval. With RBI's reported U.S. comparable sales falling, test several years of that restaurant against its market, not just the latest year.

Alternatives to consider

Another chicken brand that publishes its terms. Compare the fee, royalty, advertising and investment items of each FDD side by side, on the same revenue base.
A different Popeyes market or restaurant. Same brand, different sales and rent, so the underwriting changes.
Waiting. RBI's third-quarter 2026 release shows Popeyes U.S. sales still falling. Nothing says you must buy now.

Questions people ask

How much does a Popeyes franchise cost?

Popeyes' own franchising site does not publish a fee or investment range, and RBI's 10-K gives no Popeyes-specific figure. The numbers are in Items 5 and 7 of the Popeyes FDD, which you receive through the franchising process. Figures on other websites are not from Popeyes.

What are the requirements to own a Popeyes?

The franchising site says it seeks entrepreneurs with a proven record of operating their own businesses, preferably in quick service, and its review covers QSR operations expertise, background and credit checks, a business plan and legal entity documents. It publishes no net worth or liquidity minimum.

How much do Popeyes franchisees make?

RBI estimated U.S. Popeyes franchisee four-wall profitability at $235K for 2025, $255K for 2024 and $245K for 2023, using rounded, unaudited, self-reported results (RBI release). It is restaurant-level, before items such as debt service and taxes.

Is Popeyes still growing?

RBI's Q3 2026 release shows the Popeyes segment at 3,542 restaurants against 3,541 a year earlier and net restaurant growth of 0.0%. U.S. comparable sales were down 2.2% in the quarter.

How do I get the Popeyes FDD?

Apply through franchising.popeyes.com or email franchising@popeyes.com. A franchisor must give you the FDD at least 14 calendar days before you sign or pay.

Is a Popeyes franchise a good investment?

That depends on the site, price, financing and your own costs, which this page cannot see. It is not financial advice. Read the FDD, talk to franchisees and consult a franchise attorney.

Sources

Popeyes: franchising site (franchising.popeyes.com) · Application and approval process, qualification language, available markets, FDD-only disclaimer; no fees or investment published; read November 8, 2026
Restaurant Brands International: Q4 and full-year 2025 results · Popeyes segment sales, comparable sales, restaurant count, and U.S. franchisee four-wall profitability estimates for 2023 to 2025
Restaurant Brands International: Q3 2026 results (Form 8-K, October 29, 2026) · Popeyes Q3 and nine-month 2026 comparable sales, restaurant count and net restaurant growth
Restaurant Brands International: 2025 Form 10-K · Popeyes restaurant counts at December 31, 2025, franchise agreement terms, company-wide royalty and advertising ranges, refranchising plan
FTC: Franchise Rule compliance guide · The 14-calendar-day rule for receiving the disclosure document

Figures were read from Popeyes' franchising site on November 8, 2026 and from RBI's 2025 Form 10-K, its full-year 2025 release and its October 29, 2026 third-quarter release. No Popeyes FDD was read, so no fee, investment or net worth figure is quoted. The FDD you are handed is the controlling document, and figures change each year. This is not financial advice; talk to a franchise attorney before you sign.

Top photo: deathpallie325 / CC BY-SA 4.0 via Wikimedia Commons