How many company-operated Hardees restaurants are included in the Travel Center and Gas and Convenience Center Restaurants financial performance representation?

According to Hardees's 2025 Franchise Disclosure Document, the financial performance representation includes data from both franchised and company-operated restaurants classified as either "Travel Center" or "Gas and Convenience Center" locations. The data encompasses the 53-week period from January 30, 2024, to January 27, 2025. Of the 129 restaurants included in this representation, one is company-operated, while the remaining 128 are franchised. This means that the financial performance data presented for these specific types of Hardees restaurants reflects primarily the performance of franchised locations, with a very small contribution from a single company-operated restaurant.

This is important for prospective franchisees to understand because the financial performance they might achieve could differ significantly from the average, given the limited number of company-operated restaurants in the sample. The FDD explicitly states that individual results may vary and there is no assurance of earning as much as the represented averages. The document also clarifies that this particular financial performance representation excludes freestanding Hardees restaurants, as well as those located in colleges, universities, and airports, further narrowing the scope of the data to Travel Center and Gas and Convenience Center locations only.

Furthermore, the FDD provides additional context by stating that at the end of the FY25 period, Hardees had a total of 1,571 franchised and company-operated restaurants open in the United States. The majority of the restaurants (1,442) were excluded from this particular financial performance representation for various reasons, such as operating from freestanding locations or not providing complete revenue data. This highlights that the financial performance data presented is specific to a subset of Hardees restaurants and may not be representative of the entire franchise system. Prospective franchisees should consider these factors and conduct their own due diligence, including consulting with financial advisors, to assess the potential financial performance of a Hardees franchise.