BurgerFi

BurgerFi is a fast casual better burger concept founded in February 2011 in Lauderdale by the Sea, Florida, by John Rosatti, David Manero, and Lee Goldberg. The idea followed the strong response to the CEO Burger at Rosatti's The Office restaurant, leading the founders to pursue premium, all natural ingredients in a fast casual setting. The brand grew to 125 locations in the United States and internationally by September 2020. In December 2020, it merged with Opes Acquisition Corp., a special purpose acquisition company, in a transaction valued at $100 million in cash and stock. BurgerFi International Inc. began trading on Nasdaq under ticker BFI. In November 2021, it acquired Anthony's Coal Fired Pizza and Wings for $161.3 million. After Chapter 11 bankruptcy proceedings for its corporate owned locations in September 2024, Savvy Sliders acquired the company on January 3, 2025, for $44 million. BurgerFi enters 2025 and 2026 as a leaner brand using an asset light franchising model. Its corporate headquarters are in Fort Lauderdale, Florida. The franchise analysis is independent research rather than franchisor marketing material.

BurgerFi operates in the fast casual burger segment within the $331 billion U.S. limited service restaurant industry. Better burger concepts generally emphasize premium ingredients, customizable menus, and a more elevated setting than traditional fast food. Millennials and Gen Z diners account for over $350 billion in annual food service spending and tend to consider ingredient sourcing, brand values, and environmental responsibility. Fast casual dining has grown at an annual compound rate of approximately 8% to 10% over the past decade, ahead of quick service and full service restaurants. Minimum wage increases and higher food costs continue to pressure operators, while BurgerFi's all natural, hormone free, and antibiotic free ingredients support its premium positioning. The fast casual burger market is fragmented, leaving potential territory opportunities in underserved markets. Health conscious consumption, premium everyday meals, and reduced interest in processed ingredients remain relevant to BurgerFi's original positioning.

The initial BurgerFi franchise fee is $35,000, compared with the $45,000 fee cited in some historical disclosure documents. Qualifying military veterans receive a 10% discount, reducing the fee to $31,500. Total initial investment ranges from $523,120 to $2,030,000, reflecting differences in format, geography, real estate, and construction scope. Earlier BurgerFi FDD filings cited ranges from approximately $609,550 to $1,042,500. The lower end generally applies to smaller or non traditional sites, consistent with the 2025 and 2026 focus on airports, military bases, and campus hubs. Traditional freestanding or inline restaurants in higher cost markets may fall near the upper end. The broader fast casual franchise category commonly requires $400,000 to $1,200,000, placing BurgerFi within the category range while leaving room for premium builds. Its asset light model is intended to reduce balance sheet exposure and support openings through franchisee capital. Prospective owners should work with SBA approved lenders to evaluate financing against the investment range.

BurgerFi uses a fast casual counter service model in which guests order at the counter and receive burgers made with all natural, hormone free beef, along with chicken, hot dogs, and specialty items delivered to the table. A location generally requires between 15 and 30 employees, depending on volume and format. Operations may use an owner operator or multi unit manager structure. The 2025 and 2026 expansion plan includes airports, military bases, and campus sites, which may use smaller crews, reduced footprints, and adapted menus. Co branded restaurants pairing BurgerFi with Anthony's Coal Fired Pizza may extend sales into evening occasions. Franchisee training includes classroom instruction in brand standards, operations, food safety, and financial management, plus hands on restaurant training. Ongoing support includes field assistance, supply chain infrastructure, and marketing program access. Under CEO Ian Baines, the post acquisition organization is focused on stabilizing franchisee relationships after the 2024 restructuring. Territory rights and exclusivity are set out in the franchise agreement, and buyers should review the current FDD carefully.

That estimate reflects food costs of 28% to 32% of revenue, labor costs of 28% to 35%, occupancy costs of 8% to 12%, and royalty and marketing fees. Results will vary with labor markets, rent, operating efficiency, and sales volume. On April 1, 2024, the company managed 162 restaurants, including 102 BurgerFi locations and 60 Anthony's locations. In early 2025, it operated approximately 100 BurgerFi and 60 Anthony's units.

BurgerFi reached 125 U.S. and international locations by September 2020 and signed a six unit franchise agreement for Saudi Arabia that year. Its combined portfolio reached 162 restaurants across both brands by April 2024. The company closed 14 restaurants in 2023, eight in the first quarter of 2024, and 19 underperforming corporate owned locations in September 2024 during the Chapter 11 reorganization. By September 10, 2024, BurgerFi had 93 restaurants, including 76 franchised and 17 corporate owned units. Savvy Sliders acquired the company in January 2025 for $44 million, and the Chapter 11 liquidation plan was approved on March 12, 2025. The transition created a franchise dominant model with zero company owned units. Remaining strengths include 14 years of consumer recognition, a premium ingredient position, potential Anthony's co branded locations, and a 2025 to 2027 recovery plan targeting stabilization in 2025 and steady unit growth beginning in 2027. Priority sites include airports, military bases, and college campuses. Digital ordering, delivery partnerships, and updated customer technology are part of the operating refresh under Ian Baines and Savvy Sliders ownership.

The preferred BurgerFi franchisee is an experienced restaurant operator or multi unit franchise investor with management experience in fast casual or quick service restaurants. Familiarity with labor scheduling, food costs, and customer service in high volume settings may help an owner operate within the current model. Multi unit ownership is permitted and encouraged as the growth plan through 2027 depends on partners who can develop several locations in defined markets. Domestic opportunities focus on airport concourses, university dining facilities, and military base dining operations. International exploration is focused on the GCC region and the Caribbean, following contraction in earlier markets including the United States, Mexico, the Middle East, and the United Kingdom by 2018. The current FDD defines the franchise term and renewal conditions. Buyers should have franchise counsel review transfer rights, resale provisions, and territory protections. Opening generally takes six to twelve months after signing, depending on site selection, permitting, and construction.

BurgerFi presents a complex investment for buyers considering the limited service restaurant category. Key risks include the recent Chapter 11 history, the closure of 19 corporate locations in 2024, and the ownership change to Savvy Sliders. The brand's Loan Activity Score of 57 on the PeerSense platform represents a Moderate franchise performance rating. That score should be considered alongside local market conditions, territory availability, and competitive positioning. The $35,000 initial franchise fee and $523,120 to $2,030,000 investment range make the opportunity relevant to experienced restaurant investors who can capitalize for their chosen format. PeerSense offers independent franchise research covering SBA lending history, Loan Activity Score, location maps with Google ratings, FDD financial data, and comparison tools for evaluating BurgerFi against other fast casual restaurant franchises.