Restaurant Brands International’s brands here include bakery, burger and chicken franchises. Each is franchised on its own terms, under its own agreement, so the cost to open, the fees and the record of each brand differ, even where the parent company is the same.
Brands owned by Restaurant Brands International
| Brand | Cost to open | Franchise fee | Royalty | Locations | 3-year change |
|---|---|---|---|---|---|
| Burger KingBurger | $348K–$4.73M | $50,000 | 4.5% | 6,650 | −392 (−6%) |
| PopeyesChicken | $1.22M–$3.92M | $50,000 | 5% | 3,229 | +283 (+10%) |
| Firehouse SubsSandwich | $405K–$876K | $20,000 | 6% | 1,291 | +104 (+9%) |
| Tim HortonsBakery | $428K–$3.31M | $50,000 | 4.5–6% | 693 | +57 (+9%) |
Change is in US locations, franchised and company-owned, over the three latest years in each brand’s filing. A dash means the brand’s counts aren’t usable.
Size and growth
Together these brands have 11,863 US locations, 89% of them run by franchisees. Across the brands, the total grew by 52 locations (0%), from 2023 to 2025.
Grew the most
- Popeyes+10%
- Tim Hortons+9%
- Firehouse Subs+9%
Shrank the most
- Burger King−6%
Brands that started the three years with at least 10 locations.
Fees and royalties across the brands
Franchise fees run from $20K to $50K across these brands, with a typical $50K. Where the royalty is a single share of sales, it runs from 4.5% to 6%, typically 5%. At one brand the royalty isn't one rate on all sales: it is tiered, ranged, charged on part of revenue or comes with a minimum. On top of that, the marketing fund ranges from 4% to 5% of sales.
A shared parent can mean shared suppliers, systems and support staff, but it rarely means shared terms: compare the agreements brand by brand, and ask whether owning one brand gets you anything when you buy another.
Sales per location and who runs it
Of these brands, 3 publish yearly sales per location, from $974K at Firehouse Subs to $1.89M at Popeyes. Of the 4 brands whose agreement says, 2 require the owner to run it day to day; at the rest a trained manager can.
| Brand | Sales per location | Marketing fund | Who runs it |
|---|---|---|---|
| Burger King | $1.69M a year | 4.5% of sales | Owner must run it |
| Popeyes | $1.89M a year | 5% of sales | A trained manager can run it |
| Firehouse Subs | $974K a year | 5% of sales | Owner must run it |
| Tim Hortons | Other figures | 4% of sales | A trained manager can run it |
Questions
Who owns Restaurant Brands International?
Restaurant Brands International is a public company. Its shares trade on the New York Stock Exchange as QSR, so its shareholders own it. Source: SEC



