People search for a Starbucks or Chipotle franchise because the brands are famous and busy. But a chain can grow without selling franchises, by opening its own locations or by licensing them to companies that already run airports, travel plazas or overseas markets. Each chain below owns nearly all of its US locations, licenses them, or franchises only abroad or through partners it already has. Each has its own page with its sources and the franchise brands that come closest.
Chains and their closest franchise
| Chain | Closest franchise |
|---|---|
| Starbucks Licensed, not franchised | Dunkin' from $532K |
| Dutch Bros Closed to new franchisees | Scooter's Coffee from $659K |
| Chipotle Company-owned | Qdoba from $548K |
| CAVA Company-owned | The Great Greek Mediterranean Grill from $705K |
| Sweetgreen Company-owned | Chicken Salad Chick from $777K |
| Shake Shack Licensed, not franchised | Five Guys from $928K |
| In-N-Out Company-owned | Jack in the Box from $1.91M |
| Raising Cane's Closed to new franchisees | Chick-fil-A from $318K |
| Waffle House Closed to new franchisees | IHOP from $1.91M |
| Cracker Barrel Company-owned | IHOP from $1.91M |
| Olive Garden Company-owned | Noodles & Company from $669K |
| Portillo's Company-owned | Nathan's Famous Branded Menu Program from $57K |
| Chuck E. Cheese Franchises abroad only | Sky Zone from $3.25M |
| Topgolf Franchises abroad only | X-Golf from $1.15M |
| Trader Joe's Company-owned | 7-Eleven from $165K |
| Wawa Company-owned | 7-Eleven from $165K |
| Dollar General Company-owned | 7-Eleven from $165K |
| Five Below Company-owned | Plato's Closet from $356K |
| lululemon Company-owned | Plato's Closet from $356K |
| FedEx Company-owned | The UPS Store from $222K |
| First Watch Mostly company-owned | The Original Pancake House from $483K |
| Dollar Tree Company-owned | 7-Eleven from $165K |
| Walmart Company-owned | 7-Eleven from $165K |
| The Cheesecake Factory Company-owned | Applebee's from $3.87M |
| U-Haul Company-owned | Two Men and a Truck from $147K |
| Costco Company-owned | 7-Eleven from $165K |
| Dave & Buster's Franchises abroad only | Sky Zone from $3.25M |
| Target Company-owned | 7-Eleven from $165K |
| Nike Company-owned | Play It Again Sports from $346K |
| Sheetz Company-owned | 7-Eleven from $165K |
| CVS Company-owned | Good Neighbor Pharmacy from $44K |
| Home Depot Company-owned | Ace Hardware from $604K |
| Publix Company-owned | 7-Eleven from $165K |
| Buc-ee's Company-owned | 7-Eleven from $165K |
| LongHorn Steakhouse Company-owned | Outback Steakhouse from $4.26M |
| Walgreens Company-owned | Good Neighbor Pharmacy from $44K |
Licensed, not franchised
Starbucks and Shake Shack grow partly through licensing. A Starbucks licensee pays the running costs and the cost of building the store; Starbucks earns a margin on the coffee and supplies it sells to the licensee and a royalty on sales, and says most of its licensees are prominent retailers with access to space it couldn’t otherwise get (Starbucks annual report, fiscal 2025). That is a deal for a company that already runs stores, not a way to buy a single shop.
Where to look instead
The closest franchise is usually a younger brand in the same format: a drive-thru coffee chain instead of Starbucks or Dutch Bros, a fast-casual burrito brand instead of Chipotle, a diner chain instead of Waffle House. Start with what you want to run, then compare brands on cost to open, royalties and how often owners leave. The largest franchises are the most proven, and the fastest-growing are where new owners are signing now.
Questions
Is a licensed store the same as a franchise?
No. A licensee is usually a company that already controls the space, such as a retailer or an airport operator, and runs the brand inside it under the brand's rules. A franchise is sold to an owner who opens the business under the brand, pays an up-front fee and a royalty, and owns the business.