Hardee's
CKE Restaurants Holdings, Inc.
Company Information
6700 Tower Circle, Suite 1000
The franchisor is Hardee’s Restaurants LLC, a Delaware limited liability company, with its principal place of business at 6700 Tower Circle, Suite 1000, Franklin, Tennessee 37067. Its predecessor began offering franchises in 1960.
Hardee’s Restaurants are quick service restaurants offering a limited menu of breakfast, lunch and dinner products. The restaurants feature charbroiled 100% Black Angus Thickburger sandwiches, Hand-Breaded Chicken Tenders, Made from Scratch Biscuits and other related quick serve menu items. Dual Concept Restaurants are quick service Hardee’s Restaurants that also incorporate the Red Burrito Dual Concept System. In addition to Hardee’s breakfast, lunch and dinner products, Dual Concept Restaurants offer certain Red Burrito Mexican food products. HR is a party to an agreement with its affiliate, Carl’s Jr. Restaurants LLC (“CJR”), regarding the Red Burrito Dual Concept System. Under that agreement, HR assumes all rights and obligations as franchisor for Dual Concept Restaurants and the Red Burrito Dual Concept System. You must comply with all local, state and federal laws and regulations applicable to the operation of your Hardee’s Restaurant, including health, sanitation, food handling, food preparation, waste disposal, smoking restrictions and advertising and point-of-sale disclosures, including statements concerning the nutritional and dietary characteristics of the food served at your Restaurant. There are other laws and regulations applicable to businesses generally (including the Americans with Disabilities Act) with which you must comply. You should consult with your attorney concerning all laws and regulations that may affect your Restaurant operations. In addition, all newly-developed Hardee’s Restaurants and Dual Concept Restaurants must contain a charbroiler. The charbroiler has been the object of regulation in certain areas of the country, including California where, in some regions, chain-driven charbroilers must have catalytic converters. The possibility exists that other states may require that air pollution control equipment be installed in connection with the use of a charbroiler. You would be expected to comply with these regulations, if applicable to your Restaurant, and pay all costs of installation and maintenance of the control equipment. The restaurant business, including the quick service segment, is highly competitive. You will be competing with other quick service restaurants, including national and regional restaurant chains, fast-casual restaurants, full-service casual-dining restaurants, budget restaurants, health and nutrition-oriented restaurants, delicatessens and prepared food restaurants, take-out food service companies, supermarkets, coffee shops and convenience stores. If you will be operating a Dual Concept Restaurant, you also will be competing with national, regional and local Mexican quick service restaurants. The ability of each Hardee’s Restaurant and each Dual Concept Restaurant to compete depends on its location, ingress and egress, signage, parking, service, employee attitudes, overhead, changing local market and economic conditions, and many other factors both within and outside your control.
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Franchise Rating
Franchimp Summary Rating
5/10
Earning Transparency
10/10
Franchise Attrition
3/10
Investment Accessibility
1/10
Summary of potential earnings
$1,197,529 / unit
Average Revenue During 2022QSR
$282,742
Industry Low
$3,261,971
Industry High
Franchise System Development
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Distribution of Hardee's Franchisee
Employee Contact Database
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Summary of Investment Costs
Upfront Franchise Fees
Minimum: $57,000 Maximum: $97,000
Upfront franchise fees are the one-time payments required to secure rights to operate under an established brand, typically ranging from $20,000 to $100,000+ depending on brand value.
These fees grant access to proprietary business systems, training programs, intellectual property rights, and often territorial exclusivity—essentially purchasing the blueprint for a proven business model.
While separate from ongoing royalties, investors should evaluate these fees against expected returns, comparing fee-to-earnings ratios across opportunities and assessing how effectively franchisors reinvest these funds into system improvements.
Total Investment Costs
Minimum: $1,375,000 Maximum: $2,637,395
Ongoing Fees
Ongoing franchise fees, typically structured as royalties ranging from 4-8% of gross sales, represent the continuous payments franchisees make to maintain brand affiliation and support services.
These recurring fees fund the franchisor's operational assistance, marketing initiatives, technology updates, and continued brand development—creating a partnership where the franchisor's revenue grows alongside the franchisee's success. In addition to royalties, franchisees often contribute to national advertising funds (usually 1-3% of sales) and may incur technology fees, supply chain markups, or renewal fees depending on the franchise agreement.
Investors should carefully analyze these ongoing costs within their financial projections, as they directly impact profit margins and cash flow throughout the entire franchise relationship.
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