TGI Fridays

TGI Fridays is a casual dining franchise founded in 1965 by Alan Stillman in New York City. Originally conceived as a singles bar on Manhattan's Upper East Side, the brand grew to become one of America's most recognizable casual dining chains, peaking at over 600 U.S. locations in 2008. The company has experienced a dramatic decline in recent years — from 270 U.S. locations at the start of 2024 to approximately 79 by late 2025, following a Chapter 11 bankruptcy filing in November 2024. All company-owned restaurants were sold to franchisees, making TGI Fridays a 100% franchised system. The 2025 FDD reports an initial franchise fee of $50,000, a 5% royalty on gross sales, and a total investment ranging from $2.6M to $3.8M. Among 121 reporting units, average gross revenue was $5.0M with a median of $3.1M (Item 19). However, 47 locations ceased operations during the most recent reporting period with zero new openings, resulting in a net loss of 47 units. PeerSense tracks 117 SBA loans totaling $109.1M in lending volume across 36 lenders, with an FPI score of 55 (Moderate). Prospective franchisees should carefully evaluate the brand's ongoing restructuring, accelerating unit closures, and shifting market position before investing.