How Much Does It Cost to Open a First Watch Franchise?

Sep 24, 2025

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One of the most common questions from prospective owners is: “How much does it cost to open a First Watch franchise?”

The answer depends on factors like market, site conditions, and timing—but there are clear investment ranges that give candidates a transparent starting point.

Franchise Fee

Each First Watch restaurant requires a franchise fee of approximately $40,000–$50,000. This fee grants you the rights to use the brand name, systems, and support tools provided by the franchisor.

Total Investment

The total initial investment for a First Watch franchise typically ranges from $750,000 to $1,300,000+. This figure includes:

Real estate and leasehold improvements
Restaurant build-out and design
Furniture, fixtures, and equipment (FF&E)
Pre-opening training and marketing
Working capital for the early months of operation

Because markets vary, exact costs will depend on site size, local construction pricing, and vendor programs.

Ongoing Royalties

First Watch franchisees pay an ongoing royalty fee of around 5% of gross sales. This is standard in the restaurant industry and supports continued brand development, training, and operational resources.

Marketing Fund

In addition to royalties, franchisees contribute about 2% of gross sales to the national marketing fund. Owners are also expected to invest in local store marketing (LSM) to promote their restaurant in their community.

Financing Options

While the franchisor does not directly provide financing, common pathways include:

Conventional bank loans
SBA loans (in the U.S.)
Partner or investor structures
Equipment leasing to reduce upfront costs

Many franchisees combine these options to build a financing package tailored to their situation.

Important Note on the FDD

All investment numbers shared here are illustrative ranges. The Franchise Disclosure Document (FDD) contains the official terms, disclosures, and cost details. Always review the current FDD and consult advisors before making decisions.

The Bottom Line

Investing in a First Watch franchise requires a meaningful commitment of capital, but the combination of brand strength, daytime operating model, and comprehensive support makes it a compelling opportunity.

If you’re evaluating franchise opportunities and want both financial transparency and lifestyle benefits, First Watch is designed to deliver on both fronts.