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Rates
Which Wich F/A

Which Wich F/A

The total investment to open a Which Wich F/A franchise ranges from $253,500 to $742,250. The initial franchise fee is $30,000. Ongoing royalties are 6%.

What is the Which Wich F/A franchise?

Which Wich was founded in Dallas, Texas, in 2003 by restaurant entrepreneur Jeff Sinelli, who uses the title Chief Vibe Officer. The customizable sandwich concept began franchising in 2005. Its headquarters remain in downtown Dallas, alongside the original restaurant and test kitchen. Which Wich is part of Sinelli Concepts Int'l. Inc., led by President Cherry Hearn, a former legal consultant and one of the brand's first franchise owners. Reports from October 2024 cited more than 500 locations across 39 states and 12 countries. The 2025 Franchise Disclosure Document reported 187 U.S. franchises, while a November 2023 update cited more than 220 U.S. locations in markets including Guatemala, Oman, the U.K., Saudi Arabia, and Qatar. LinkedIn reported 500 locations open or in development across 39 states and 11 countries. A separate 2025 FDD reference listed 150 total units, all franchisee owned and with no company owned locations. The varying counts may reflect units in development and show a brand in an active growth phase within the limited service restaurant industry.

The fast casual limited service restaurant market serves customers seeking convenience, quality, fresh ingredients, and customized meals. Which Wich addresses these preferences through sandwiches that customers build to their own specifications, with a menu that can accommodate varied dietary needs. Busy schedules and demand for quick service support this category, while urbanization, higher disposable incomes, and movement away from traditional full service dining add to its appeal. The sandwich market includes major national chains and regional operators, but its fragmented structure leaves room for distinctive concepts. Which Wich competes through its brand identity, customized customer experience, efficient operations, and demand for reasonably priced food. Digital ordering and delivery technology also create opportunities for well managed franchise systems.

The initial franchise fee is $30,000. Reported total initial investment ranges include $253,500 to $822,250, $254,000 to $822,000, and $253,500 to $742,250, with differences tied to real estate, construction, and geographic conditions. The 2026 FDD lists an application and document preparation fee of $250 to $750 and site selection assistance from $250 to $1,000. First month's rent and security deposit are estimated at $2,000 to $14,000. Leasehold improvements range from $90,000 to $375,000, store design consulting from $250 to $1,500, and furniture, fixtures, equipment, and signage from $106,000 to $292,000. Training ranges from $250 to $15,000, pre opening consultation from $250 to $1,000, and opening assistance from $250 to $5,000. Computer hardware and software are estimated at $1,500 to $15,000, initial inventory and supplies at $7,500 to $12,000, and professional services at $2,500 to $7,000, in addition to opening advertising. Franchisees are expected to have $150,000 in liquid capital and a $500,000 net worth. The ongoing royalty is 6% of gross sales.

Daily operations center on customer service, food preparation, inventory control, waste reduction, freshness, and local marketing. The model requires counter service and an organized process for handling many fresh ingredients. A typical staffing structure includes a manager, an assistant manager, and trained crew members who take orders, prepare food, and maintain cleanliness. Locations are generally placed in high traffic retail settings, including inline and end cap spaces. The Dallas restaurant and test kitchen support operating improvements that can be shared across the system. The 2026 FDD lists training costs from $250 to $15,000, though it does not specify the training length or location. Training generally covers business management, marketing, operating procedures, and practical store experience. Sinelli Concepts Int'l. Inc. provides field consulting, technology updates for point of sale and inventory systems, national and local marketing, and supply chain support. Pre opening consultation ranges from $250 to $1,000, and opening assistance ranges from $250 to $5,000. Franchise agreements generally define territories. The system supports multi unit development, including a United Kingdom agreement and Houchens Industries' operation of 7 locations across Indiana, Kentucky, and Tennessee.

Investors must therefore review unit growth and other market indicators. October 2024 reporting cited more than 500 locations across 39 states and 12 countries. The 2025 FDD cited 187 U.S. franchises, the November 2023 update cited more than 220 U.S. locations, LinkedIn cited 500 locations open or in development across 39 states and 11 countries, and another 2025 FDD reference listed 150 total franchisee owned units with no company owned locations. The brand has been reported to add about 50 stores per year. Which Wich has expanded into the United Kingdom, including London, Manchester, and Edinburgh, with a multi unit agreement and development plans.

Which Wich began in 2003 and started franchising in 2005. By October 2024, the brand reported more than 500 locations across 39 states and 12 countries. Other reports included 187 U.S. franchises in the 2025 FDD, more than 220 U.S. locations in the November 2023 update, and 500 locations open or in development across 39 states and 11 countries on LinkedIn. Growth has been reported at about 50 stores per year. International development includes London and Cardiff, with additional United Kingdom locations in the pipeline and an anticipated launch in Scotland. In July 2025, Which Wich signed its first United Kingdom multi unit franchise agreement with Breaking Brands Management Ltd. to open more Cardiff locations. Broader plans target London, Manchester, Birmingham, Edinburgh, and Glasgow through a partnership with Seeds Consulting. An earlier 2018 goal called for 30 United Kingdom sites by the end of 2027, while the brand operated from two United Kingdom locations as of December 2025. Its competitive position rests on customization, the brand identity led by Jeff Sinelli, rapid and accurate service, and a supply chain intended to support fresh ingredients. The source does not provide specific details on digital transformation, delivery integration, or sustainability initiatives, although continued investment in digital ordering and third party delivery is relevant to the category.

A suitable Which Wich franchise candidate may be an entrepreneur, an experienced restaurant operator, or a group with multi unit management experience. The financial requirements of $150,000 in liquid capital and a $500,000 net worth point toward operators able to manage a substantial investment. The brand supports multi unit development, as shown by the Breaking Brands Management Ltd. agreement in the United Kingdom and Houchens Industries' 7 locations across Indiana, Kentucky, and Tennessee. Which Wich operates across 39 states and 12 countries, with United Kingdom plans focused on dense metropolitan markets such as London, Manchester, Birmingham, Edinburgh, and Glasgow. A precise opening timeline is not provided. A typical fast casual development process can take 6 to 18 months, depending on real estate, construction, and permitting. The franchise agreement term is also unspecified, while industry terms generally range from 10 to 20 years and may include renewal options.

Which Wich offers a customizable sandwich concept in the limited service restaurant category, with reported growth of about 50 stores per year and expansion plans in markets including the United Kingdom. Leadership includes founder and Chief Vibe Officer Jeff Sinelli and President Cherry Hearn. The reported initial investment range is $253,500 to $822,250, with liquid capital of $150,000 and a net worth requirement of $500,000. PeerSense provides independent franchise research that includes SBA lending history, Loan Activity Score, location maps with Google ratings, FDD financial data, and comparison tools. PeerSense is a commercial capital advisory firm that introduces franchise buyers to SBA and conventional lenders and does not lend or approve loans.

Loan Activity Score

41/100

SBA Default Rate

17.8%

Active Lenders

60

According to its Franchise Disclosure Document or public business records, Which Wich F/A has 127 locations, all owned by franchisees. Public SBA loan records show 60 lenders made 152 loans to franchisees of Which Wich F/A. PeerSense calculates Which Wich F/A's score as 41 out of 100, using public SBA loan performance and recent lending activity.

Franchising since 2003 · 127 locations

Investment

$253,500 to $742,250

Franchise Fee

$30,000

Total Units

127

127 franchised

Loan Activity Score
High
41
SBA Lending
12
Lender Quality
7
Transparency
10
Reach
9
Momentum
3

Proprietary PeerSense metric

Fair
Capital Sources
60SBA lenders

Distinct lenders in public SBA records for Which Wich F/A

152

Total SBA loans

$316K

Average loan size

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

Referral fee at closing

SBA Lending Activity for Which Wich F/A

Loan Activity Score Breakdown

Major Brand (100+ loans)

High Confidence
41out of 100
Fair
Market Momentum3/35

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

Loan Safety12/25

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

Lender Confidence7/15

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

Transparency10/15

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

Footprint9/10

Geographic spread of SBA funded locations across states.

SBA Lending Performance

SBA Default Rate

17.8%

vs 10.3% peer avg

SBA Loans

152

Total Volume

$48.0M

Active Lenders

60

12 selective

States

27

vs. SBA Sector Average

-7.5%higher default rate

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

Key Highlights

127 locations nationwide

Data Insights

Key performance metrics for Which Wich F/A based on SBA lending data

SBA Default Rate

17.8%

7.5% above peer avg

SBA Loan Volume

152 loans

Across 60 lenders

Lender Diversity

60 lenders

Avg 2.5 loans per lender

Investment Tier

Significant investment

$253,500 to $742,250 total

Payment Estimator

Loan Amount$203K
Interest Rate9.5%
Term (Years)10 yr

Estimated Monthly Payment

$2,624

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

Which Wich F/A, unit breakdown

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

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Which Wich F/A

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