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TOPPERS PIZZA
Toppers Pizza franchises the right to operate restaurants offering delivery, dine-in, carry-out, and curbside pickup of distinctive handmade pizzas, breadsticks, and other premium food and beverage products prepared according to proprietary recipes and procedures. The business model licenses the Toppers Pizza brand, marks, operational systems, training, marketing programs, and technology to franchisees for establishing and managing these locations, including options for single units, existing restaurant purchases, or area development for multiple sites. It targets customers seeking convenient, high-quality pizza and related items.
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Franchise Costs
5.5% royalty + 3% brand development fund + $208/mo POS system fees
Financial Performance
Item 19 Financial Performance
Data Based On: 49 Franchised Restaurants for 2025 fiscal year
* Weighted average gross revenue calculated from tercile data for 49 franchised units: (16 units × $1,366,364 + 17 units × $883,476 + 16 units × $630,357) / 49 total units = $958,502.61. This aligns with the stated overall average gross revenue of $958,503 for franchised restaurants.
Extracted Item 19 Section
Avg. Revenue: $958,503
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TOPPERS PIZZA Franchise Analysis
What if a pizza chain with roots stretching back to 2000 could deliver standout revenue in a crowded market, yet shows a puzzling dip in locations? Toppers Pizza's FDD teases Item 19 disclosures that spotlight average and median gross sales, while a robust history of SBA financing hints at accessible entry for operators. But with recent terminations and a contracting footprint, is this the high-topping opportunity it promises—or a slice with hidden risks?
Item 7 in the 2026 FDD outlines an initial investment of $420,700 to $732,684, including a $30,000 franchise fee, covering build-out for delivery-focused pizza spots with dine-in and curbside options. Ongoing fees hit 5.5% royalty plus 3% brand fund and $208 monthly POS charges, keeping overhead predictable amid proprietary recipes for handmade pies and breadsticks. Item 19 shines brightly here, reporting average gross revenue of $958,503 and median of $868,788 across units—strong figures signaling solid customer draw since franchising began in Whitewater, WI, under Toppers Pizza Holdings LLC.
System metrics reveal 54 franchise and 14 corporate locations, down 2% from 55 total in 2024 to 54 in 2025, with 4 terminations, 1 transfer, and just 5 projected new units—suggesting stabilization over aggressive expansion. Yet 73 SBA loans averaging $434,405 underscore lender confidence, easing financing for single units, resales, or multi-site developments. For buyers eyeing $900K+ top-line potential, these numbers flag a mature brand with revenue muscle but demand scrutiny on local competition and operational tweaks to reverse the slight contraction.
Analysis based on the 2026 Franchise Disclosure Document. All figures should be independently verified before making investment decisions.
How TOPPERS PIZZA Compares
Key Insights
- Top 10 largest franchise system in Pizza
- One of the lowest SBA loan default rates in Pizza
| Franchise | Investment | Fee | Royalty | Locations |
|---|---|---|---|---|
TOPPERS PIZZA Current | $421K – $733K | $30K | 5.5% | 54 |
| DOMINO'S PIZZA | $118K – $197K | $10K | 5.5% | 6,948 |
| PIZZA HUT (NON-TRADITIONAL) | $56K – $183K | $10K | 10.0% | 1,241 |
| PAPA MURPHY'S | $450K – $693K | $25K | 5.0% | 965 |
| GODFATHER'S PIZZA | $711K – $1.3M | $25K | 6.5% | 592 |
| BLAZE PIZZA | $597K – $1.1M | $30K | 5.0% | 283 |
Pizza Average 13 franchises | $458K – $1.2M | $29K | 5.7% | – |
* Comparison based on latest FDD filings. Investment ranges from Item 7, fees from Item 5. Showing top 5 of 13 Pizza franchises by location count.
Locations & Growth
Outlet Growth Over Time
Total outlets at end of each year
Geographic Distribution (2025)
Outlets by state across the United States
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SBA Loan History
Historical SBA 7(a) loan data for TOPPERS PIZZA franchisees (2010 – 2025)
Loans by Year
SBA 7(a) loan activity over time
* Data sourced from SBA 7(a) FOIA loan records. Default rate calculated from charged-off loans.
73 SBA loans on record
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Franchisee Contacts
54 franchisee contacts on file from official FDD filings.
54 Contacts Available
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Due Diligence
Litigation (Item 3)
Bankruptcy (Item 4)
System Health (Item 20)
Franchise system changes reported in the most recent fiscal year
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Frequently Asked Questions
The total initial investment to open a TOPPERS PIZZA franchise ranges from $420,700 to $732,684. This includes a franchise fee of $30,000. Ongoing royalty fees are 5.5% of gross sales.
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