Smalls Sliders

For the discerning investor navigating the dynamic quick-service restaurant landscape, the critical question revolves around identifying concepts that offer both robust unit economics and a scalable operational model in a market saturated with options. Smalls Sliders, a rapidly expanding QSR franchise, addresses this challenge directly by presenting a unique, streamlined investment opportunity focused on high-quality, cooked-to-order cheeseburger sliders. Founded in 2019 by seasoned restaurateur Brandon Landry and Jacob Dugas, the brand quickly established its proof of concept with its inaugural "Can" building opening in October 2019 on Nicolson Drive in Baton Rouge, Louisiana. This initial concept, which launched in September 2019, demonstrated extraordinary market acceptance by generating an impressive $2.4 million in sales during its first year from a compact 800-square-foot location, attracting early investment from former NFL star Drew Brees. Smalls Sliders is recognized for its innovative design, featuring distinctive modular "Can" buildings that facilitate streamlined operations and rapid deployment, a critical advantage in today's competitive environment. As of April 2024, the brand boasted 13 open locations, with its footprint extending beyond Louisiana into Flowood, Mississippi, signifying the initial stages of its broader geographic expansion. The brand’s strategic positioning within the fast-casual segment, a market valued at over $100 billion in the United States and experiencing consistent annual growth, underscores its relevance to franchise investors seeking a high-performing asset. This independent analysis from PeerSense provides a data-rich examination of Smalls Sliders, offering unparalleled depth to inform serious due diligence, moving beyond marketing claims to present verifiable facts and figures.

The broader limited-service restaurant industry, encompassing both fast food and fast-casual segments, represents a colossal market exceeding $300 billion annually in the United States, with the fast-casual segment alone demonstrating a robust compound annual growth rate projected to exceed 8% through 2030. This growth is significantly driven by evolving consumer preferences for convenience, perceived higher quality ingredients, and customizable menu options that bridge the gap between traditional fast food and full-service dining. Smalls Sliders is uniquely positioned to capitalize on several key consumer trends, including the increasing demand for efficient drive-thru services, a preference for fresh, cooked-to-order meals over pre-prepared options, and the appeal of novel, experience-driven concepts. Secular tailwinds further benefiting this specific brand include the ongoing shift towards off-premise dining, accelerated by recent global events, which favors concepts with optimized drive-thru and takeout capabilities like the modular "Can" buildings employed by Smalls Sliders. Furthermore, the brand’s compact footprint and streamlined operational model are well-suited to mitigate challenges associated with rising real estate costs and labor availability, making the industry category particularly attractive for franchise investment. While the QSR market is highly fragmented, with thousands of independent and franchised operators, Smalls Sliders differentiates itself through its specialized menu and distinctive operational format, carving out a niche within the competitive landscape. Macroeconomic forces, such as inflationary pressures that push consumers towards value-driven options without sacrificing quality, create a substantial opportunity for brands like Smalls Sliders that offer a compelling combination of speed, quality, and affordability.

Investing in a Smalls Sliders franchise represents a significant capital commitment, aligning it with premium investment opportunities within the quick-service restaurant sector. The initial franchise fee for the first "Can" is $35,000, a figure that is competitive within the QSR industry, which typically sees fees ranging from $25,000 to $50,000. For franchisees looking to expand their portfolio, each additional Smalls Sliders location incurs a reduced franchise fee of $30,000, encouraging multi-unit development. The total estimated initial investment for a Smalls Sliders franchise, as detailed in the Franchise Disclosure Document (FDD), ranges from $1,297,825 to $1,993,734. This comprehensive investment range covers a multitude of essential expenditures, including the modular "Can" building and associated site work, which alone accounts for a substantial portion at $789,913 to $1,401,896. Further allocations within this investment include $313,249 to $331,475 for furniture, fixtures, equipment, and technology, along with $74,613 to $104,613 for signage and menu boards, ensuring brand consistency and visibility. Operational readiness is supported by an estimated $23,000 to $28,000 for opening inventory and an additional $25,000 to $30,000 designated for three months of working capital, providing a crucial buffer during the initial launch phase. These figures position Smalls Sliders as a substantial financial undertaking, requiring significant capital liquidity, with a liquid capital requirement of $1,500,000 and a net worth requirement of $4,000,000. Beyond the initial investment, ongoing fees include a royalty rate of 6.00% of gross sales and an advertising (National Brand Fund) fee of 5.00% of gross sales, with a minimum grand opening advertising campaign fee of $15,000. The backing of 10 Point Capital, a QSR-focused private equity firm that partnered with Smalls Sliders in July 2022, further solidifies the corporate support and strategic direction for this premium franchise investment.

The operational model for a Smalls Sliders franchise is characterized by its simplicity and efficiency, centered around the production of fresh, cooked-to-order cheeseburger sliders, seasoned waffle fries, and shakes, all served from the brand's distinctive modular "Can" buildings. This streamlined approach is designed to optimize speed of service and consistency, minimizing labor requirements while maximizing throughput. While specific staffing requirements are not explicitly detailed, the compact footprint of the "Can" buildings inherently suggests a lean labor model, focusing on efficiency and high productivity per employee. The modular "Can" building design serves as the primary format option, emphasizing drive-thru service and off-premise consumption, which aligns with modern consumer preferences for convenience. Franchisees embarking on their Smalls Sliders journey benefit from a comprehensive initial training program, which is provided to both the Managing Operator and the General Manager of a new franchise. This crucial training can be delivered either virtually or at a designated facility, ensuring flexibility and accessibility, and notably, there is no fee for the first two attendees, reducing initial overhead for key personnel. Satisfactory completion of this program is a mandatory prerequisite before the franchise can commence operations, underscoring the brand's commitment to operational excellence. Beyond initial training, franchisees receive robust ongoing corporate support, bolstered by a leadership team that saw a complete C-suite rebuild by November 2025, including the appointment of Charles Watson as CEO in April 2025 and Clint Penfield as Chief Operating Officer in June 2025, alongside Don Crocker as Chief Development Officer and Casey Halbach as Chief People Officer. This formidable leadership team, backed by 10 Point Capital, provides strategic guidance, operational best practices, and marketing support. While explicit territory exclusivity details are not provided, the brand’s aggressive development across 30 states, with eight states already having sold out their initial phase development, indicates a structured approach to market penetration and implies a multi-unit operator model. The substantial investment and rapid expansion trajectory suggest that Smalls Sliders is primarily targeting sophisticated multi-unit operators or investor groups rather than single-unit, absentee owners, positioning it for strategic, high-growth expansion.

Item 19 financial performance data is not disclosed in the current Franchise Disclosure Document for Smalls Sliders. Despite this, publicly available data and performance metrics paint a compelling picture of robust unit-level economics. The average unit volume (AUV) for a Smalls Sliders franchise is reported as an impressive $1,697,000, significantly outperforming many established QSR concepts. The brand's foundational success is underscored by the fact that its very first "Can" location generated an exceptional $2.4 million in sales during its initial year of operation from a compact 800-square-foot footprint, demonstrating the high revenue potential of the model. Furthermore, the system average for Smalls Sliders is now tracking above $2 million, indicating a consistent and upward trend in unit-level performance across its network. Top-performing units within the Smalls Sliders system are achieving even higher benchmarks, reaching sales in the range of $2.4 million to $2.6 million annually, showcasing the significant upside potential for well-managed locations in prime markets. The brand's operational efficiency and consumer appeal are further evidenced by the sale of 3.5 million cheeseburger sliders in 2023 alone, a testament to its product demand and streamlined service model. While specific profit margins are not publicly disclosed, these high revenue figures, combined with the brand's lean operational structure and compact modular "Can" buildings, suggest strong profitability potential for franchisees. The estimated franchise payback period for a Smalls Sliders investment is projected to be between 6.1 and 8.1 years, a competitive timeline given the substantial initial investment and reflecting the strong revenue generation capabilities of the units. The rapid growth trajectory, with hundreds of units under development, signals strong investor confidence in the brand's unit economics and future profitability, even in the absence of a formal Item 19 disclosure.

The growth trajectory of Smalls Sliders has been nothing short of aggressive, positioning it as one of the fastest-growing concepts in the quick-service restaurant space. After an initial period of development, the brand strategically reset its growth infrastructure and officially reopened for franchising in May 2023, signaling a renewed and accelerated expansion phase. By December 2023, Smalls Sliders had successfully opened 11 "Cans" and had an impressive 155 units sold or under development, laying the groundwork for substantial future expansion. This momentum continued into April 2024, with 13 open locations, demonstrating consistent progress in unit openings. The brand projected to reach 40 open Cans in 2024, a significant leap from its earlier unit counts, indicating an ambitious rollout plan. The development pipeline for Smalls Sliders has seen exponential growth, surpassing 200 Cans open or under development by March 2024, exceeding 250 Cans open or under development by June 2024, and reaching over 300 Cans open or under development by August 2024. By October 2024, the brand inched closer to 400 Cans open or under development, culminating in 375 Cans open or under development across 30 states as of March 2026. Despite the Franchise Times Top 400 (2025) listing Smalls Sliders with 21 operational units, there is a clear and robust pipeline of committed development that underscores significant investor interest and confidence. Recent corporate developments include the relocation of headquarters to Atlanta, Georgia, in 2023 to enhance proximity to talent and resources, and a strategic partnership with 10 Point Capital in July 2022 to fuel its scaling efforts. The brand has also seen a complete rebuilding of its C-suite by November 2025, bringing in seasoned leadership like Charles Watson as CEO and Clint Penfield as COO, strengthening its operational and strategic capabilities. The competitive moat for Smalls Sliders is primarily built upon its distinctive modular "Can" building design, which offers streamlined operations, a compact footprint, and rapid construction, providing a significant real estate and efficiency advantage. Its focus on fresh, cooked-to-order cheeseburger sliders and seasoned waffle fries creates a specialized menu that fosters customer loyalty. The brand is adapting to current market conditions through its drive-thru-centric model, which inherently supports digital transformation and delivery integration, catering to evolving consumer habits and ensuring sustained relevance in the fast-paced QSR landscape. The brand has also expressed "getting international interest," indicating future global aspirations beyond its current exclusive U.S. operations.

The ideal Smalls Sliders franchisee is typically a sophisticated, well-capitalized multi-unit operator or an investment group with a proven track record in the quick-service restaurant or hospitality sector. The significant liquid capital requirement of $1,500,000 and a net worth requirement of $4,000,000 underscore the need for substantial financial backing, indicating that this is not an entry-level franchise opportunity. Candidates should possess strong management experience, a deep understanding of operational efficiencies, and the capacity to scale rapidly, aligning with Smalls Sliders' aggressive growth strategy. While specific industry knowledge is not explicitly mandated, a background in multi-unit food service operations would be highly advantageous for navigating the complexities of rapid expansion and managing multiple locations. The brand’s development strategy heavily emphasizes multi-unit ownership, as evidenced by the tiered franchise fee structure and the sheer volume of units sold or under development, suggesting that single-unit operators may not be the primary target. Smalls Sliders is actively developing across 30 states, with current or planned operations in a broad geographic spread including Louisiana, Mississippi, Alabama, Florida, Tennessee, Texas, Kentucky, Nevada, Utah, Colorado, Illinois, Ohio, South Dakota, Virginia, West Virginia, Arizona, Arkansas, Kansas, Missouri, South Carolina, Georgia, Idaho, Indiana, and Montana. Eight states, including Arizona, Georgia, Alabama, Arkansas, Kansas, Louisiana, Missouri, and Mississippi, have already sold out their initial phase development, indicating high demand in these markets. The brand anticipates having locations in 16 states by Q4 2025, further illustrating its rapid geographic expansion. While the exact timeline from signing a franchise agreement to opening a "Can" is not specified, the modular nature of the building design often facilitates a faster construction and launch process compared to traditional brick-and-mortar builds. The franchise agreement term length and renewal terms are not explicitly available, but these are crucial details for long-term investment planning and would be detailed in the Franchise Disclosure Document.

For serious investors, Smalls Sliders represents a compelling franchise opportunity characterized by its innovative operational model, exceptional unit-level performance, and aggressive growth trajectory within the resilient quick-service restaurant sector. The brand's distinctive modular "Can" buildings, coupled with its focus on fresh, cooked-to-order cheeseburger sliders, positions it uniquely to capture market share in a segment driven by convenience and quality. With system average unit volumes tracking above $2 million and top-performing units reaching $2.4 million to $2.6 million annually, the financial potential of a Smalls Sliders franchise is demonstrably strong, offering a competitive payback period estimated between 6.1 and 8.1 years. The strategic backing of 10 Point Capital and a revitalized leadership team under CEO Charles Watson further solidifies the brand's foundation for sustained, rapid expansion across the United States. Smalls Sliders is not just another QSR concept; it is a meticulously designed system built for efficiency, scalability, and high revenue generation, making it a prime candidate for sophisticated multi-unit operators. PeerSense provides exclusive due diligence data including SBA lending history, FPI score, location maps with Google ratings, FDD financial data, and side-by-side comparison tools. Explore the complete Smalls Sliders franchise profile on PeerSense to access the full suite of independent franchise intelligence data.