Risk Score
Pending analysis
Investment Range
$704,750 - $1,171,500
Franchise Fee
$17,500
Total US Locations
82
Business Summary
BurgerFi operates fast-casual restaurants specializing in all-natural Angus burgers, hot dogs, fresh-cut fries and onion rings, craft beers, wine, and frozen custard products. BurgerFi Restaurants offer lunch and dinner menus for dine-in, take-out, or delivery services, utilizing BurgerFi's proprietary recipes, techniques, and branding elements.
Corporate History
The BurgerFi system was originally launched in Florida in 2011 and operated by BurgerFi International LLC until April 2021. From April 2021 through November 2024, BurgerFi International, Inc. (BFII) took over as the operator and franchisor. In September 2024, BFII filed for Chapter 11 bankruptcy. The BurgerFi system assets were then acquired by TREW Capital Management Private Credit 2 LLC in November 2024, which subsequently assigned its rights to BFI Restaurant Group LLC. In December 2024, BurgerFi Partners, LLC, the current parent of BurgerFi Franchise, LLC, acquired all interests in the BurgerFi system. BurgerFi Franchise, LLC, formed in December 2024, began offering franchises in the second quarter of 2025.
Financial Overview
Investment Range
$704,750 - $1,171,500
Franchise Fee (Low)
$17,500
Franchise Fee (High)
$35,000
Royalty %
5.5%
Marketing %
2%
Equipment Costs (Low)
$591,000
Equipment Costs (High)
$889,000
Working Capital
$27,500
Audited Financials
Yes
Offers Financing
No
Audit Opinion
Unqualified opinion
Financial Health Notes
BurgerFi Franchise, LLC is a newly formed company with an opening balance sheet as of January 31, 2025, showing only $100 in cash and member's equity. As a new entity, it has not yet licensed any franchise agreements. Due to this minimal financial condition, the Maryland Securities Commissioner has mandated a financial assurance, requiring that all initial fees and payments from franchisees be deferred until BurgerFi Franchise, LLC completes its pre-opening obligations and the franchised business opens.
Financing Details
BurgerFi Franchise, LLC does not offer any direct or indirect financing arrangements to its franchisees. Additionally, BurgerFi Franchise, LLC does not guarantee any franchisee notes, leases, or other obligations.
Performance Metrics
Total US Locations
82
Franchised Units
66
Corporate Units
16
Avg Square Footage
1,625
Franchising Since
2025
Legal & Compliance Analysis
Recent Litigation
Yes
Bankruptcy
Yes
Litigation Count
4
Litigation Summary
BurgerFi Franchise, LLC has disclosed four litigation cases involving its predecessor and current management. One case, filed in 2017 by a franchisee against BurgerFi International, LLC, alleged fraud and breach of contract related to developing restaurants; this case settled in 2020. Another lawsuit, filed in May 2021 against BurgerFi International, LLC, claims fraudulent inducement to purchase franchises and invest in a printing agreement. A pre-bankruptcy settlement in this case was rejected, and BurgerFi Franchise, LLC is currently in discussions to reach a resolution. Separately, in 2013, Happy Asker (BurgerFi's current CEO) and Maher Bashi (BurgerFi's current CAO/COO) were criminally indicted by the U.S. for conspiracy to defraud and filing false tax returns, stemming from alleged underreporting of revenue for Happy's Pizza outlets; both were found guilty and sentenced in 2015. Additionally, in 2015, investors in a Happy's Pizza franchise sued for a $335,000 refund, alleging fraudulent inducement regarding a liquor license; this matter settled with a refund and was dismissed in 2019.
Bankruptcy History
BurgerFi International, Inc. (BFII), the predecessor to BurgerFi Franchise, LLC, filed for voluntary Chapter 11 bankruptcy in September 2024. Subsequently, the BurgerFi system assets were acquired by TREW Capital Management Private Credit 2 LLC (TCMP) in November 2024. TCMP then assigned its rights to BFI Restaurant Group LLC, and in December 2024, sold all interests in BFI Restaurant Group LLC, including the BurgerFi system, to BurgerFi Partners, LLC, which is the current parent entity of BurgerFi Franchise, LLC. The bankruptcy court confirmed the plan of liquidation in March 2025.
Agreement Terms
Initial Term
10 years
Renewal Term
5 years
Renewal Conditions
To renew their BurgerFi franchise, franchisees must provide written notice of their intent to renew 12 to 18 months before the agreement ends. They must remodel and refurbish their restaurant to meet BurgerFi's current standards for new locations and must have complied with all terms of their franchise agreement, including financial obligations, throughout the original term. Franchisees will need to sign BurgerFi's then-current franchise agreement, which may have different terms, pay a renewal fee of $8,750 or 25% of the current initial franchise fee (whichever is greater), execute a general release of claims, meet current personnel and training requirements, and prove their right to continue occupying the approved location.
Training & Support Program
Franchisor Assistance
BurgerFi provides pre-opening assistance, including site selection guidelines, one on-site evaluation, and approval of the proposed location and lease. Franchisees receive BurgerFi's standard layout and design specifications, access to the Brand Manual, and initial training. BurgerFi also helps develop the grand opening marketing program, conducts a pre-opening inspection, and may provide a representative for the grand opening. Ongoing assistance includes periodic support in marketing, management, and operations, field consultant visits to offer advice, and additional training as deemed appropriate by BurgerFi. Franchisees also gain access to an online learning management system for team member training and development.
Initial Training Hours
238
Training Location
Corporate Certified Training Facility in the Fort Lauderdale, FL area, and the Restaurant Support Center.
Ongoing Support
After opening, BurgerFi provides ongoing assistance in marketing, management, and general operations as needed. This includes periodic visits from field consultants who offer advice regarding restaurant operations and ongoing training programs. BurgerFi also offers an Online Learning Management System (LMS) to manage team member training, development, and engagement. Franchisees must also participate in mandatory conventions and meetings.
Franchise Requirements
Ideal Candidate Profile
BurgerFi Franchise, LLC seeks franchisees who, or whose Operating Principal, will devote full time, energy, and best efforts to managing and operating the BurgerFi restaurant. The Operating Principal must own at least 25% of the franchisee entity (unless approved otherwise), complete the initial training program to BurgerFi's satisfaction, and have authority over all business decisions. Franchisees are expected to maintain a competent and conscientious staff, develop an employee handbook, and foster a cooperative work environment.
Industry Experience Required
No
Management Experience Required
Yes
Sales Experience Required
No
Technical Skills Required
No
Operational Details
Location Type
retail
Owner Participation
full-time
Territory Type
protected
Territory Size Requirements
Each BurgerFi franchise is granted a Protected Area defined as a circle with a specific radius (which is agreed upon) centered at the front door of the restaurant. This definition excludes areas separated by natural boundaries like a river. For multi-unit developers, the Development Area is identified by political boundaries, excluding airports, seaports, and U.S. Government-operated facilities, with its size varying based on factors like density, demographics, competition, and the number of restaurants to be developed.
Staffing Notes
BurgerFi requires that an Operating Principal or a General Manager, who has successfully completed BurgerFi's initial training program, must actively and full-time manage the restaurant. Franchisees must maintain a competent and sufficient staff to service customers promptly and adhere to BurgerFi's staffing and service criteria. Franchisees are also responsible for developing an employee handbook and risk management policies, ensuring a cooperative work environment, and cooperating with BurgerFi's representatives during inspections. All trainees must sign a confidentiality agreement.