What are the reasons that the majority of Hardees restaurants were excluded from the financial performance representation?

According to Hardees's 2025 Franchise Disclosure Document, the financial performance representation includes data from 129 Travel Center and Gas and Convenience Center Restaurants. These restaurants were operated by franchisees and company-owned entities during the 53-week period from January 30, 2024, to January 27, 2025.

The document states that at the end of the FY25 period, Hardees had 1,571 franchised and company-operated restaurants open in the United States. The financial performance representation excludes 1,442 restaurants for the following reasons: 1,433 operate from freestanding locations, 2 operate from a college, university, toll plaza, or airport, and 7 did not provide complete revenue data for the entire FY25 time period.

For a prospective franchisee, this means that the financial performance data provided may not be representative of a typical Hardees restaurant. The data is specific to Travel Center and Gas and Convenience Center locations, so franchisees considering a traditional freestanding Hardees restaurant should be cautious when using this data for their projections. It is important to consider the specific type of location being considered and how it might impact revenue potential.