What was the net change in the number of company-operated Hardees restaurants during 2025?
Hardees Franchise · 2025 FDDAnswer from 2025 FDD Document
| Restaurant Type | Year | Restaurants at Start of the Year | Restaurants at End of the Year | Net Change |
|---|---|---|---|---|
| Franchised | 2023 | 1552 | 1512 | -40 |
| 2024 | 1512 | 1394 | -119 | |
| 2025 | 1394 | 1,369 | -24 | |
| Company- | 2023 | 202 | 195 | -7 |
| Operated | ||||
| 2024 | 195 | 204 | +9 | |
| 2025 | 204 | 202 | -2 | |
| Total | 2023 | 1754 | 1707 | -47 |
| Restaurants | ||||
| 2024 | 1707 | 1598 | -110 | |
| 2025 | 1598 | 1,571 | -26 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 71–84)
What This Means (2025 FDD)
According to Hardees's 2025 Franchise Disclosure Document, the net change in the number of company-operated restaurants during 2025 was -2. At the start of 2025, Hardees had 204 company-operated restaurants, and by the end of the year, that number decreased to 202. This indicates that Hardees closed or sold more company-operated restaurants than it opened or reacquired during that year.
For a prospective franchisee, this information is relevant because it provides insight into the strategic direction Hardees is taking with its company-operated stores. A decrease in company-operated restaurants could signal a greater emphasis on franchising as the primary mode of expansion. It could also reflect challenges in profitability or operational efficiency within the company-operated segment, leading Hardees to re-evaluate its corporate store model.
It's important to note that while the overall net change was -2, this doesn't reveal the full picture of restaurant activity. For example, Hardees may have opened new company-operated restaurants while closing others, resulting in the net decrease. Further investigation into the specific reasons behind these changes would provide a more comprehensive understanding of Hardees's operational performance and strategic decisions. A prospective franchisee may want to inquire about the reasons for the closures and the overall strategy regarding company-operated versus franchised locations.