What was the total revenue Burger King received from affiliates in 2023?
Burger_King Franchise · 2025 FDDAnswer from 2025 FDD Document
tion with the Carrols Acquisition, we acquired the remaining 85% equity interest in Carrols, resulting in the Step Acquisition Gain. As a result of the Carrols Acquisition, Carrols became a wholly owned consolidated subsidiary beginning on May 16, 2024.
The aggregate carrying amount of our equity method investments was $113 million and $163 million as of De
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 109–124)
What This Means (2025 FDD)
According to Burger King's 2025 Franchise Disclosure Document, the total revenue Burger King received from affiliates in 2023 was $553 million. This total is comprised of several revenue streams, including royalties, advertising revenues, property revenues, franchise fees and other revenue, and sales.
Specifically, the revenue streams that make up the $553 million total include $402 million in royalties, $79 million in advertising revenues, $32 million in property revenues, $21 million in franchise fees and other revenue, and $19 million in sales. These figures provide insight into the various ways Burger King generates income from its affiliated entities.
Prospective franchisees should understand these revenue streams, as they reflect the financial interactions between Burger King and its affiliates. The figures also allow potential franchisees to see how the revenue from affiliates has changed over time, as the table includes data from 2022 and 2024 as well. Understanding these financial relationships can help franchisees better assess the overall financial health and stability of the Burger King franchise system.