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Knuckies Hoagies

Knuckies Hoagies

The total investment to open a Knuckies Hoagies franchise ranges from $107,450 to $406,450. Ongoing royalties are 5% plus a 2% advertising fee.

What is the Knuckies Hoagies franchise?

Knuckies Hoagies is a fast casual hoagie and sandwich franchise based in Milton, Georgia. Todd Broaderick founded the company in 2019 and remains its CEO, overseeing operations and leadership development. The legal entity is Knuckies Franchise Company LLC. The system has five franchised units and no company owned locations, so all operating stores are run by franchisees. The brand appeared on the 2023 QSR 40/40 list, which recognizes 40 emerging limited service restaurant brands with fewer than 40 locations. Its distinguishing features include a proprietary bread program developed with Engelman's Bakery, 14 executed Walmart leases across six states, and store formats ranging from 800 to 2,200 square feet. Knuckies operates within the $315.1 billion U.S. limited service restaurant market. This overview was prepared independently by PeerSense franchise research analysts and is not sponsored by, affiliated with, or reviewed by Knuckies Franchise Company LLC or its principals.

The global limited service restaurant market was valued at $1.2 trillion in 2024 and is projected to reach $1.4 trillion by 2030, reflecting a 3.2% compound annual growth rate. Other projections estimate a 5.71% compound annual growth rate through 2035 and place the global market at $1.214 trillion by 2032. The U.S. market reached $315.1 billion in 2024, making it the largest national market in this category. Delivery and takeout are growing quickly, with limited service delivery sales increasing more than 20% in the past year. Fast casual dining, the segment most closely associated with Knuckies, is projected to grow at a 3.2% compound annual growth rate over the same period. Demand is supported by interest in speed, portability, value, customizable menus, digital ordering, drive through service, and mobile ordering. Sandwich and hoagie concepts also benefit from repeat purchases, comparatively low food costs against full service restaurants, and broad demographic appeal.

The stated Knuckies Hoagies investment runs from $107,450 to $406,450. The company reports an average turnkey investment of approximately $295,000. Total costs vary according to the selected format and construction conditions. Available formats include traditional inline stores from 800 to 2,200 square feet, modular container drive through units, and smaller spaces located within Walmart stores. The ongoing royalty is 5% of gross sales, while the brand marketing fund contribution is 2%, for total ongoing fees of 7% of gross revenue. The company has executed 14 Walmart leases across Georgia, South Carolina, North Carolina, Tennessee, Oklahoma, and Texas. A location inside an existing retailer may reduce traditional build out costs and avoid an independent lease negotiation. The $107,450 to $295,000 range for lower format builds may fit investment levels commonly considered for SBA backed small business lending, which can affect the amount of equity required at entry.

Knuckies locations are designed to operate with 2 to 6 employees. The system offers inline stores, Walmart embedded units, and modular container drive through locations, allowing the format to match local real estate and available capital. CEO Todd Broaderick has described the brand as having proven reproducible processes intended to make operations easier. The supply chain includes Sysco for food distribution, Engelman's Bakery for the proprietary bread program, and Pepsi for beverages. Franchise opportunities are currently concentrated in the Southeastern United States, with active development in Georgia, South Carolina, North Carolina, Tennessee, Oklahoma, and Texas. The company has not publicly provided the full length of initial training or the schedule for field consultant visits. Broaderick's direct role in operations and leadership development indicates a founder led support structure. Buyers should review the current Franchise Disclosure Document for territory exclusivity, multi unit expectations, and absentee ownership terms.

FTC franchise rules permit franchisors to omit these representations. Buyers must instead assess industry benchmarks, unit growth, and other available information. These figures are context rather than projections for Knuckies. Walmart locations average over 10,000 customer transactions per day at many U.S. stores, which may support traffic for an embedded food concept. The PeerSense Loan Activity Score is 55, in the Moderate range, reflecting the early stage system, limited unit count, and absent financial disclosure, along with its supply partnerships, industry recognition, and expansion plans.

Knuckies entered 2024 with a handful of operating locations and ended the period with seven units operating. During that period, the company also completed a Walmart partnership covering 14 leases across six states. Its stated goal for 2025 is to open 14 new locations. Planned markets include Ohio, North Carolina, South Carolina, Tennessee, and Texas, along with continued development in Georgia. Walmart has approximately 4,700 U.S. stores, creating a potential real estate pipeline with existing customer traffic. The company also uses modular container drive through formats for nontraditional sites such as parking lots, mixed use developments, and event corridors. The bread program with Engelman's Bakery gives the concept a product distinction from sandwich operators using standard commodity bread. Its inclusion on the 2023 QSR 40/40 list provides outside recognition of the brand at this stage of development.

The intended franchisee profile centers on operational simplicity rather than mandatory restaurant experience. A 2 to 6 employee model may suit owner operators or semi absentee owners managing a small team. The six states under active development and 14 executed Walmart leases may offer opportunities to buyers with local relationships in Georgia, South Carolina, North Carolina, Tennessee, Oklahoma, or Texas. The Walmart format may appeal to owners who prefer built in customer traffic over independent site selection and starting local marketing from the beginning. Multi unit development may be available and encouraged in view of the 2025 goal of 14 new locations, but buyers should confirm incentives and area development terms in the FDD. Opening time will depend on the format. Modular container and Walmart units may require less construction and permitting time than inline stores, while 90 to 180 days is a reasonable general planning window for nontraditional formats. Buyers in the current development corridor should be prepared for the risks associated with an emerging franchise system.

The Knuckies investment case combines participation in the $315.1 billion U.S. limited service restaurant market, an investment from $107,450 to $406,450 with a stated average turnkey cost of $295,000, and 14 pre executed Walmart leases. The planned addition of 14 locations in 2025 would be the most aggressive expansion in the company's six year history and would test its ability to maintain operating standards across new markets and formats. PeerSense offers due diligence information that includes SBA lending history, Loan Activity Score details, location maps with Google ratings, FDD financial data, and comparison tools for evaluating Knuckies against other limited service restaurant concepts.

Loan Activity Score

55/100

SBA Default Rate

0.0%

Active Lenders

4

According to its Franchise Disclosure Document or public business records, Knuckies Hoagies has 5 locations, all owned by franchisees. Public SBA loan records show 4 lenders made 6 loans to franchisees of Knuckies Hoagies. PeerSense calculates Knuckies Hoagies's score as 55 out of 100, using public SBA loan performance and recent lending activity.

Franchising since 2019 · 5 locations

Investment

$107,450 to $406,450

Total Units

5

5 franchised

Loan Activity Score
Medium
55
SBA Lending
25
Lender Quality
5
Transparency
4
Reach
4
Momentum
17

Proprietary PeerSense metric

Moderate
Capital Sources
4SBA lenders

Distinct lenders in public SBA records for Knuckies Hoagies

6

Total SBA loans

$275K

Average loan size

Source: public SBA 7(a) and 504 loan records through December 31, 2025

Referral fee at closing

SBA Lending Activity for Knuckies Hoagies

Loan Activity Score Breakdown

Emerging (3 to 9 loans)

Medium Confidence
55out of 100
Moderate
Market Momentum17/35

Are lenders increasingly or decreasingly funding this brand? Growing trends score highest.

Loan Safety25/25

Blended default rate (recent + all time) compared to NAICS sector peers.

Lender Confidence5/15

Quality lenders actively backing this brand, with penalty for lender pullback.

Transparency4/15

FDD availability, Item 19 disclosure, and overall data completeness.

Footprint4/10

Geographic spread of SBA funded locations across states.

SBA Lending Performance

SBA Default Rate

0.0%

vs 10.3% peer avg

SBA Loans

6

Total Volume

$1.6M

Active Lenders

4

States

2

vs. SBA Sector Average

+10.3%lower default rate

SBA loan default rate vs. all franchises in the same NAICS sector, not limited to direct competitors

Key Highlights

Low SBA default rate (0.0%)

Data Insights

Key performance metrics for Knuckies Hoagies based on SBA lending data

SBA Default Rate

0.0%

10.3% below peer avg

SBA Loan Volume

6 loans

Across 4 lenders

Lender Diversity

4 lenders

Avg 1.5 loans per lender

Investment Tier

Mid range investment

$107,450 to $406,450 total

Knuckies Hoagies: Deep SBA Data

Brand specific metrics derived directly from SBA 7(a) approval records: peak lending year, leading state, average loan size, and lender concentration. PeerSense computes these per brand so capital advisors and prospective franchisees can benchmark this opportunity against the rest of the franchise universe.

Peak SBA Year

2023

4 approvals. The best year on record for Knuckies Hoagies.

Top SBA State

Georgia

5 SBA financed Knuckies Hoagies locations, the densest operator footprint.

Average Loan Size

$275K

Median $310K. Use as a sizing anchor when modeling your own Knuckies Hoagies unit.

Lender Concentration

83.3%

Concentrated

Share of Knuckies Hoagies approvals captured by the top 3 SBA lenders.

Knuckies Hoagies's SBA lending pipeline peaked in 2023 (4 approvals). The last five fiscal years account for 100% of cumulative volume ($1.6M approved). Operator density is highest in Georgia with 5 SBA financed locations. Average funded ticket sits at $275K, with the median at $310K. Lender mix is concentrated: the top three SBA lenders account for 83.3% of approvals. Credit decisions concentrate with a small group of incumbents.

Payment Estimator

Loan Amount$86K
Interest Rate9.5%
Term (Years)10 yr

Estimated Monthly Payment

$1,112

Principal & Interest only

Indicative only, as of October 1, 2026. Not a quote, commitment or offer of credit. Final pricing, leverage and terms are determined by the lender at underwriting, after full transaction materials are reviewed. PeerSense sources the file. The lender sets pricing. What these terms mean.

Locations

Knuckies Hoagies, unit breakdown

Total Units
N/A
Franchisee Owned
n/a
System Owned
n/a
Closed
n/a

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Knuckies Hoagies

Page Review

Reviewed by Edward L. Freeman, Founder and Managing Director, PeerSense

  • PeerSense is a capital advisory firm that places commercial financing with direct capital sources; it does not lend, fund, or approve loans, and the capital source sets final terms.
  • Edward L. Freeman founded PeerSense in January 2020.
  • He is a Registered Franchise Consultant with Business Alliance, Inc., a credential issued in March 2022, and worked as a franchise consultant there from March 2022 to May 2023.
  • His recorded experience includes a $22 million SBA construction loan, with about $16 million funded on the deal.
  • In the 12 months through September 30, 2026, PeerSense tracked 912 publicly announced financings with a disclosed size of $361.32 billion. PeerSense Capital Data Report · Methodology page

Last reviewed LinkedIn profileAbout Edward Freeman