Potbelly Sandwich Works
The total investment to open a Potbelly Sandwich Works franchise ranges from $263,310 to $648,200. The initial franchise fee is $35,000. Ongoing royalties are 6% plus a 3% advertising fee.
What is the Potbelly Sandwich Works franchise?
Potbelly Sandwich Works is a restaurant business where customers can order sandwiches. The estimated total initial investment is $263,310 to $648,200, according to the 2025 Franchise Disclosure Document.
The company was founded in 1971 and is headquartered in Omaha, Nebraska.
Loan Activity Score
53/100
SBA Default Rate
0.0%
Active Lenders
9
According to its Franchise Disclosure Document or public business records, Potbelly Sandwich Works has 14 locations, all owned by franchisees. Public SBA loan records show 9 lenders made 14 loans to franchisees of Potbelly Sandwich Works. PeerSense calculates Potbelly Sandwich Works's score as 53 out of 100, using public SBA loan performance and recent lending activity. Cost figures are based on the 2025 Franchise Disclosure Document.
Franchising since 1971 · 14 locations
$263,310 to $648,200
$35,000
14
14 franchised
Proprietary PeerSense metric
ModerateDistinct lenders in public SBA records for Potbelly Sandwich Works
14
Total SBA loans
$463K
Average loan size
Source: public SBA 7(a) and 504 loan records through December 31, 2025
Referral fee at closing
SBA Lending Activity for Potbelly Sandwich Works
Loan Activity Score Breakdown
Growing (10 to 24 loans)
Are lenders increasingly or decreasingly funding this brand? Growing trends score highest.
Blended default rate (recent + all time) compared to NAICS sector peers.
Quality lenders actively backing this brand, with penalty for lender pullback.
FDD availability, Item 19 disclosure, and overall data completeness.
Geographic spread of SBA funded locations across states.
SBA Lending Performance
SBA Default Rate
0.0%
vs 10.3% peer avg
SBA Loans
14
Total Volume
$6.5M
Active Lenders
9
2 selective
States
9
vs. SBA Sector Average
SBA loan default rate vs. all franchises in the same NAICS sector, not limited to direct competitors
Key Highlights
Franchise Financing Resources
Data Insights
Key performance metrics for Potbelly Sandwich Works based on SBA lending data
SBA Default Rate
0.0%
10.3% below peer avg
SBA Loan Volume
14 loans
Across 9 lenders
Lender Diversity
9 lenders
Avg 1.6 loans per lender
Investment Tier
Significant investment
$263,310 to $648,200 total
Potbelly Sandwich Works: 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
2015
5 approvals. The best year on record for Potbelly Sandwich Works.
Top SBA State
Nebraska
3 SBA financed Potbelly Sandwich Works locations, the densest operator footprint.
Average Loan Size
$463K
Median $473K. Use as a sizing anchor when modeling your own Potbelly Sandwich Works unit.
Lender Concentration
57.1%
Concentrated
Share of Potbelly Sandwich Works approvals captured by the top 3 SBA lenders.
Potbelly Sandwich Works's SBA lending pipeline peaked in 2015 (5 approvals). Operator density is highest in Nebraska with 3 SBA financed locations. Average funded ticket sits at $463K, with the median at $473K. Lender mix is concentrated: the top three SBA lenders account for 57.1% of approvals. Credit decisions concentrate with a small group of incumbents.
Payment Estimator
Estimated Monthly Payment
$2,726
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
Potbelly Sandwich Works, unit breakdown
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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