No new Texas Roadhouse franchise is offered in the United States: the company’s 2025 Form 10-K says it is “currently not accepting new domestic Texas Roadhouse franchisees,” and 714 of its 816 restaurants were company-run.
Key takeaways
- Texas Roadhouse, Inc. owned and operated 714 restaurants and franchised 102 as of December 30, 2025, a franchised share of 12.5% (Form 10-K, fiscal 2025).
- Domestic Texas Roadhouse franchise restaurants fell from 70 at the end of fiscal 2021 to 31 on June 30, 2026, mostly through company buybacks (Form 10-Q, June 30, 2026).
- The company bought 41 domestic franchise restaurants between December 29, 2021 and June 30, 2026, for stated prices that add up to $251.4 million across four filings.
- The $40,000 fee quoted online comes from the 2004 Form S-1 and 10-Ks through fiscal 2016; the 4.0% royalty was last printed in the fiscal 2021 10-K.
- A search of Minnesota’s CARDS registry on November 3, 2026 returned no Clean FDD for Texas Roadhouse, so no Item 7 cost table is on file there to quote.
Is Texas Roadhouse a franchise, or a company-run chain?
Texas Roadhouse is mostly company-run, with a small franchise system it no longer adds to at home. The fiscal 2025 10-K counts 714 company restaurants and 102 franchise restaurants on December 30, 2025. Of the 102, 36 were domestic Texas Roadhouse units, five domestic Jaggers, 60 international Texas Roadhouse (two in Puerto Rico) and one international Jaggers, run by 21 franchisees.
| Measure | Figure | Date | Filing |
|---|---|---|---|
| Company restaurants (all three concepts) | 714 | Dec 30, 2025 | 10-K fiscal 2025, Item 1 |
| Franchise restaurants | 102 | Dec 30, 2025 | 10-K fiscal 2025, Item 1 |
| Franchisees operating them | 21 | Dec 30, 2025 | 10-K fiscal 2025, Item 1 |
| Domestic Texas Roadhouse franchise restaurants | 36 | Dec 30, 2025 | 10-K fiscal 2025, Item 7 |
| States with at least one franchise restaurant | 15 | Dec 30, 2025 | 10-K fiscal 2025, Item 2 |
| Total restaurants | 832 | Jun 30, 2026 | 10-Q, second quarter 2026 |
| Company / franchise restaurants | 732 / 100 | Jun 30, 2026 | 10-Q, second quarter 2026 |
| Domestic Texas Roadhouse franchise restaurants | 31 | Jun 30, 2026 | 10-Q, second quarter 2026 |
The closed-door sentence dates to the fiscal 2015 10-K, filed February 26, 2016: “We are currently not accepting new Texas Roadhouse franchisees.” The fiscal 2014 10-K has no such sentence, and every annual report since carries a version of it. The same 2025 filing adds that domestic franchise rights are granted for specific restaurants only, with no area development agreements for domestic Texas Roadhouse franchisees.
The company itself is Texas Roadhouse, Inc., a Delaware corporation formed in 2004 with its principal office in Louisville, Kentucky, listed on the Nasdaq Global Select Market as TXRH. Its late founder, W. Kent Taylor, opened the first restaurant in Clarksville, Indiana in 1993, according to the fiscal 2025 10-K. Our public franchisor unit growth tracker carries the same 816-restaurant count.
How has the company versus franchised split moved since 2021?
Company restaurants grew from 566 at the end of fiscal 2021 to 714 at the end of fiscal 2025, while franchise restaurants stayed between 100 and 118. The franchised share therefore slipped from 15.1% to 12.5%, and to 12.0% by June 30, 2026. Each count below is the year-end figure from the “Restaurant Unit Activity” table in that year’s 10-K.
Company restaurants rose from 566 (fiscal 2021) to 732 (June 30, 2026); franchise restaurants ranged from 100 to 118. Texas Roadhouse 10-K and 10-Q unit tables, SEC EDGAR, accessed November 3, 2026.
| Period end | Company | Franchise | Total | Franchised share (franchise / total) | Filing |
|---|---|---|---|---|---|
| Dec 28, 2021 | 566 | 101 | 667 | 101 / 667 = 15.1% | 10-K fiscal 2021 |
| Dec 27, 2022 | 597 | 100 | 697 | 100 / 697 = 14.3% | 10-K fiscal 2022 |
| Dec 26, 2023 | 635 | 106 | 741 | 106 / 741 = 14.3% | 10-K fiscal 2023 |
| Dec 31, 2024 | 666 | 118 | 784 | 118 / 784 = 15.1% | 10-K fiscal 2024 |
| Dec 30, 2025 | 714 | 102 | 816 | 102 / 816 = 12.5% | 10-K fiscal 2025 |
| Jun 30, 2026 | 732 | 100 | 832 | 100 / 832 = 12.0% | 10-Q, second quarter 2026 |
Domestic franchises down, international franchises up
The flat franchise total hides two opposite moves. Domestic Texas Roadhouse franchise restaurants fell from 70 to 31 between fiscal 2021 and mid-2026, while international franchise restaurants, counting Puerto Rico, doubled from 31 to 63. Jaggers, the company’s fast-casual concept, added a small domestic franchise layer from 2023.
| Period end | Domestic Texas Roadhouse franchise | Domestic Jaggers franchise | International franchise (incl. Puerto Rico) | Filing |
|---|---|---|---|---|
| Dec 28, 2021 | 70 | 0 | 31 | 10-K fiscal 2021 |
| Dec 27, 2022 | 62 | 0 | 38 | 10-K fiscal 2022 |
| Dec 26, 2023 | 56 | 2 | 48 | 10-K fiscal 2023 |
| Dec 31, 2024 | 56 | 4 | 58 | 10-K fiscal 2024 |
| Dec 30, 2025 | 36 | 5 | 61 | 10-K fiscal 2025 |
| Jun 30, 2026 | 31 | 6 | 63 | 10-Q, second quarter 2026 |
Domestic Texas Roadhouse franchise restaurants fell from 70 to 31 between fiscal 2021 and June 30, 2026, while international franchise restaurants rose from 31 to 63. Texas Roadhouse 10-K and 10-Q filings, SEC EDGAR, accessed November 3, 2026.
Why does the domestic franchise count keep shrinking?
The company is buying its domestic franchisees out. Between December 29, 2021 and June 30, 2026 it acquired 41 domestic Texas Roadhouse franchise restaurants in four buying periods, and the fiscal 2025 10-K says it plans “to continue to opportunistically acquire existing restaurants from our domestic franchisees over time.” Domestic franchise openings over the same stretch added three Texas Roadhouse restaurants, all in fiscal 2023, and six Jaggers.
| Fiscal period | Domestic franchise restaurants acquired | Price stated in the filing | Filing |
|---|---|---|---|
| Fiscal 2022 | 8 (seven on Dec 29, 2021; one in Nebraska on Mar 30, 2022) | $33.1 million aggregate | 10-K fiscal 2022 |
| Fiscal 2023 | 8 (Maryland and Delaware, Dec 28, 2022) | $39.1 million | 10-K fiscal 2023 |
| Fiscal 2024 | 0 | none | 10-K fiscal 2024, cash flow statement |
| Fiscal 2025 | 20 (13 of them on Jan 1, 2025) | $107.5 million, net of cash acquired | 10-K fiscal 2025 |
| 26 weeks to Jun 30, 2026 | 5 | $71.7 million | 10-Q, second quarter 2026 |
| Total | 41 | $251.4 million (sum of the five stated prices) | Our arithmetic |
The buybacks rest on contract terms. Standard domestic Texas Roadhouse and Jaggers agreements give the company “the right, but not the obligation, to compel a franchisee to transfer its interests to us based on pre-determined formulas,” and the June 2026 10-Q says such rights cover 32 of the 37 domestic franchise restaurants. The company also holds 5.0% to 10.0% equity stakes in 14 of them. Our franchise resale report tracks how resales are financed across other brands.
In fiscal 2025 the company also paid $6.0 million to reacquire previously granted development rights for three future restaurants in California, according to the fiscal 2025 10-K. The same filing’s Exhibit 10.5 lists directors, officers and 5% stockholders with franchise agreements, and five franchise restaurants were owned in part by current officers at year end.
What fees did Texas Roadhouse print, and when did it stop printing them?
The filings named a $40,000 initial fee from the 2004 Form S-1 through the fiscal 2016 10-K, and a 4.0% royalty on gross sales through the fiscal 2021 10-K. From fiscal 2022 on, the 10-K says only that the domestic franchisee pays “a franchise fee for each restaurant opened and royalties based on a percentage of gross sales,” with no figures.
| Filing | Initial fee | Royalty | Marketing | Domestic program | Source |
|---|---|---|---|---|---|
| Form S-1, filed May 7, 2004 | $40,000 per new restaurant | 2.0% to 4.0% of gross sales; current form 4.0% | Not stated | Open; 19 franchisees ran 75 restaurants in 18 states at Dec 30, 2003 | S-1 |
| 10-K fiscal 2009 | $40,000 | Up to 4.0% | Not stated | 70 franchise restaurants in 24 states; no international franchise agreements | 10-K fiscal 2009 |
| 10-K fiscal 2015 | $40,000 | 4.0% (older agreements from 2.0%) | 0.3% fund | “Not accepting new Texas Roadhouse franchisees” (first time); 22 franchisees, 82 restaurants | 10-K fiscal 2015 |
| 10-K fiscal 2016 | $40,000 (last 10-K to print it); renewal fee the greater of 30% of the then-current initial fee or $10,000 to $15,000 | Up to 4.0% | 0.3% fund | Not accepting; 23 franchisees, 86 restaurants | 10-K fiscal 2016 |
| 10-K fiscal 2019 | Not stated | 4.0% | 0.3% fund, can rise to 2.5%; 0.5% fee; 3.0% cap | Not accepting new domestic franchisees | 10-K fiscal 2019 |
| 10-K fiscal 2021 | Not stated | 4.0% (last 10-K to print it) | 0.3% fund, 2.5% ceiling, 3.0% cap | Not accepting; about 75% of franchise units run by ten franchisees | 10-K fiscal 2021 |
| 10-K fiscal 2022 to 2025 | “a franchise fee” (fiscal 2023 onward) | “a percentage of gross sales” | “a percentage of gross sales” | Not accepting; first two Jaggers franchise restaurants opened in 2023 | 10-K fiscal 2022 to 2025 |
These are the terms of agreements the company already signed, not a price list for a new deal. The fiscal 2019 10-K also caps a domestic franchisee’s required marketing spending at 3.0% of gross sales, and the 2004 S-1, the fiscal 2015 10-K and the fiscal 2025 10-K all describe a ten-year term with two five-year renewals. For how royalty rates are disclosed in an FDD, see our guide to the Franchise Disclosure Document.
Where does the company still sign franchise agreements?
Outside the United States and for Jaggers. International Texas Roadhouse partners sign area development agreements and pay a development fee for named territories, a franchise fee per restaurant and royalties on gross sales, per the fiscal 2025 10-K. At December 30, 2025 there were 61 international franchise restaurants in ten foreign countries and Puerto Rico.
| Market | Franchise restaurants, Dec 30, 2025 |
|---|---|
| Philippines | 25 |
| South Korea | 8 |
| Taiwan | 6 |
| Mexico | 5 |
| United Arab Emirates | 5 |
| Saudi Arabia | 4 |
| Kuwait | 3 |
| Puerto Rico (U.S. territory) | 2 |
| Bahrain, China, Qatar | 1 each |
| Total | 61 |
International franchising is the newer leg. The fiscal 2009 10-K says the company had no international franchise agreements; the fiscal 2015 10-K records a 2010 agreement to develop eight Middle East countries over 10 years, and by the end of fiscal 2019 there were 28 franchise restaurants in ten foreign countries. In fiscal 2025, three of the four franchise openings were international Texas Roadhouse restaurants.
Jaggers is the one concept with domestic franchise development. The fiscal 2023 10-K names area development agreements in Texas, Oklahoma and North Carolina, and the fiscal 2025 10-K says agreements now allow Jaggers development “both domestically and internationally,” with a development fee, a per-restaurant fee and a royalty on gross sales. We did not open a Jaggers FDD for this page, so no Jaggers fee is quoted here.
Which Texas Roadhouse franchise numbers online trace back to old filings?
Three figures recur on franchise listing pages: a $40,000 fee, a 4% royalty and an “Item 7” total investment near $3.9 million to $7.9 million. The first two appear in Texas Roadhouse filings dated 2004 to 2022. For the third, Minnesota’s CARDS registry showed no Clean FDD for the brand on November 3, 2026, so we could not check it against a filed Item 7.
| Statement found online | Where the record printed it | What the latest filing says |
|---|---|---|
| A $40,000 franchise fee (listing pages, 2026) | 2004 S-1 and 10-Ks through fiscal 2016 (EDGAR full-text search; we opened fiscal 2005, 2007, 2009, 2015 and 2016) | Fiscal 2025 10-K: “a franchise fee for each restaurant opened,” no amount, and no new domestic franchisees accepted |
| A 4% royalty (listing pages, 2026) | 10-Ks through fiscal 2021 | Fiscal 2022 to 2025 10-Ks: “a percentage of gross sales” |
| “Item 7 investment of $3,894,500 to $7,901,500” (a listing page citing an FDD) | No Clean FDD in Minnesota CARDS, Nov 3, 2026 | The company’s own average capital investment per new Texas Roadhouse was about $8.3 million in 2025, including pre-opening costs and a 10x rent factor |
| “Over 580 restaurants” (a franchise directory page) | Below every year-end total since fiscal 2020 (634 at Dec 29, 2020) | 816 at Dec 30, 2025; 832 at Jun 30, 2026 |
| Describes the chain as a franchise (a 2026 ownership article) | Not supported by any 10-K we read | 714 of 816 restaurants company-run; managing partners are employees |
The $8.3 million figure is what the company spends to build its own restaurants, and the fiscal 2025 10-K expects about $8.9 million for 2026 openings. It is not a franchise price, but it shows the scale a full-service steakhouse involves. Our franchise initial investment report compares Item 7 totals for brands that do sell franchises.
Is a managing partner job the closest thing to owning one?
For most people it is the only route into running a domestic Texas Roadhouse, but it is a job, not a franchise. The fiscal 2025 10-K says managing partners sign a multi-year employment agreement, make a refundable deposit at hire and earn a base salary plus a percentage of the restaurant’s pre-tax income. The restaurant stays company property.
| Point | Managing partner (company restaurant) | Franchisee (existing domestic agreement) | Source |
|---|---|---|---|
| Who owns the restaurant | Texas Roadhouse, Inc. | The franchisee entity | 10-K fiscal 2025, Item 1 |
| Contract | Multi-year employment agreement | Franchise agreement, 10-year term plus two 5-year renewals | 10-K fiscal 2025, Item 1 |
| Money put in | Refundable deposit, generally returned after 5 years of continuous service | Franchise fee per restaurant | 10-K fiscal 2025, Item 1 |
| Ongoing money flow | Paid a base salary plus a share of restaurant pre-tax income | Pays royalties and a marketing fund percentage of gross sales | 10-K fiscal 2025, Item 1 |
| Entry path | Hired at least 9 months before placement; training of up to 20 weeks | Not open to new domestic applicants | 10-K fiscal 2025, Item 1 |
| Exit | Not described in the 10-K | Company may compel a transfer at a pre-determined formula | 10-K fiscal 2025, Item 1 |
The 10-K gives no dollar figure for partner pay, and we do not publish job-board pay figures. Because no Texas Roadhouse FDD is on file in Minnesota, there is also no Item 19 to read; our Item 19 research explains what that section holds when a brand files one.
What should you check if someone offers you a Texas Roadhouse franchise?
Start with who is selling. A new domestic Texas Roadhouse franchise conflicts with the company’s own fiscal 2025 10-K, so treat that offer as a stop sign. A sale of one of the 31 existing domestic franchise restaurants, a Jaggers deal or an international development deal each needs its own paperwork, checked against the federal timing rules in 16 CFR Part 436.
- Identify the seller. A new Texas Roadhouse restaurant, from anyone: stop, because the FY2025 10-K says no new domestic Texas Roadhouse franchisees are accepted. An existing franchise restaurant, from its owner: go to step 4. A Jaggers or international deal: ask for the current FDD or development agreement.
- Get the FDD early. The FTC Franchise Rule requires the franchisor’s current disclosure document at least 14 calendar days before signing or paying (16 CFR 436.2(a)). If not: do not sign or pay.
- Read any exemption claim. If an exemption is claimed, check the $1,469,600 acknowledgment: the large-investment exemption applies when the investment, excluding unimproved land and franchisor financing, reaches that amount and the buyer signs it (16 CFR 436.8(a)(5)(i)). At an $8.3 million company build cost, a steakhouse deal could qualify, so ask in writing which exemption is used.
- For a resale, ask the company first. A transfer by an existing franchisee is not a “sale of a franchise” if the franchisor has no significant involvement, and approval alone does not count (16 CFR 436.1(t)). Ask if the company will use its buy-out right: 32 of 37 domestic franchise restaurants (June 30, 2026) carry one.
- Check state registries such as Minnesota CARDS. Fourteen states register or review franchise offerings; our registration states report lists them, and CARDS showed no Clean FDD for Texas Roadhouse on November 3, 2026.
- Match the counts. Compare the seller’s restaurant count, state and franchisee name with the latest 10-Q, which lists 31 domestic Texas Roadhouse and 6 domestic Jaggers franchise restaurants at June 30, 2026.
Paying a broker to “reserve a territory” deserves the same scrutiny: the fiscal 2025 10-K says there are no area development agreements with domestic Texas Roadhouse franchisees. Our franchise fraud report sets out the FTC and state records to check a seller against.
Which route matches what you wanted from a Texas Roadhouse franchise?
Most readers who search this keyword want a full-service restaurant with a known brand. The fiscal 2025 10-K rules out a new domestic Texas Roadhouse, so the useful next step depends on capital, location and whether owning the business matters more than running it. Each of the seven rows pairs a situation with the number from the record that decides it.
| Situation | Number to compare | Next step |
|---|---|---|
| You want a new Texas Roadhouse in a U.S. city | New domestic franchisees accepted: none (10-K fiscal 2025) | Compare franchised full-service brands’ FDDs, Items 5, 6, 7 and 20; a franchise consultant can shortlist them |
| You have capital near the scale of a steakhouse build | Company build cost about $8.3 million per Texas Roadhouse in 2025 | Ask each candidate franchisor whether its deal sits above the $1,469,600 federal exemption line and which state registrations it holds |
| You want to run a Texas Roadhouse, not own it | Hired at least 9 months before placement; up to 20 weeks of training | Apply for a managing partner role and read the employment agreement and deposit terms |
| A current franchisee offers to sell you a restaurant | Buy-out rights on 32 of 37 domestic franchise restaurants (Jun 30, 2026) | Get the company’s written position on the transfer before any deposit |
| You are outside the United States | 61 international franchise restaurants in 10 countries and Puerto Rico (Dec 30, 2025) | Contact the company’s development team about a country-level development agreement |
| You want fast casual from the same company | 6 domestic Jaggers franchise restaurants (Jun 30, 2026) | Ask for the current Jaggers FDD and read Items 5, 6, 7 and 20 |
| Someone quotes a $40,000 fee or 4% royalty | Last printed in the fiscal 2016 and fiscal 2021 10-Ks | Treat both as historical terms, not an offer |
For a parallel case of a chain that sells no U.S. franchises at all, see our Chipotle franchise record. This page describes SEC filings and 16 CFR Part 436; it is not legal, financial or investment advice, and a franchise attorney should review any agreement before you sign.
How we compiled this
We read 15 SEC filings by Texas Roadhouse, Inc. on EDGAR in November 2026: the 2004 Form S-1, the 10-Ks for fiscal 2005, 2007, 2009, 2014 to 2016 and 2019 to 2025, and the 10-Q for the quarter ended June 30, 2026, and used EDGAR full-text search to date two phrases, plus 16 CFR 436.1, 436.2 and 436.8 on eCFR and a Minnesota CARDS search dated November 3, 2026. Counts are copied from each filing’s unit tables; shares and totals are our arithmetic. We excluded restaurant sales, margins, partner pay and every earnings figure, from the filings and from listing pages.
Frequently asked questions
Is Texas Roadhouse a franchise?
Mostly not. Texas Roadhouse, Inc. ran 714 of its 816 restaurants itself at December 30, 2025, and 21 franchisees ran the other 102, according to its fiscal 2025 Form 10-K. The same filing says the company is not accepting new domestic Texas Roadhouse franchisees, a statement it has made in every annual report since fiscal 2015. Franchising continues abroad and for its Jaggers concept.
How much does a Texas Roadhouse franchise cost?
No current U.S. price exists because the company is not selling new domestic franchises, and Minnesota’s CARDS registry held no Texas Roadhouse FDD on November 3, 2026. The $40,000 fee seen online was last printed in the fiscal 2016 10-K. For scale, the company’s own average capital investment per new Texas Roadhouse was about $8.3 million in 2025, including pre-opening costs and a rent factor.
How much does a Texas Roadhouse franchise owner make?
We do not publish income figures, and no filed source states one: with no Texas Roadhouse FDD on file in Minnesota, there is no Item 19 to read. A franchisee’s result turns on the royalty, last printed at 4.0% of gross sales in the fiscal 2021 10-K, the marketing fund percentage and the cost to build. Managing partners are salaried employees paid a bonus tied to restaurant pre-tax income.
What are the requirements to own a Texas Roadhouse?
For a new U.S. restaurant there is no application route: the fiscal 2025 10-K says new domestic Texas Roadhouse franchisees are not accepted. The company’s own operator route is the managing partner role, which asks for significant full-service restaurant experience, hiring at least nine months before placement, up to 20 weeks of training, a multi-year employment agreement and a refundable deposit.
Can I buy an existing Texas Roadhouse from a franchisee?
Possibly, but the company holds the stronger hand. Its standard domestic agreements let it compel a franchisee to transfer the business at a pre-determined formula, and the June 30, 2026 10-Q says those rights cover 32 of 37 domestic franchise restaurants. It bought 41 domestic franchise restaurants between December 2021 and June 2026, so get its written position on any transfer before paying a deposit.
Who owns Texas Roadhouse?
Texas Roadhouse, Inc., a Delaware corporation based in Louisville, Kentucky, whose shares trade on the Nasdaq Global Select Market as TXRH, so its shareholders own it. Founder W. Kent Taylor opened the first restaurant in Clarksville, Indiana in 1993. The company also runs Bubba’s 33 and Jaggers, with 56 and 10 company restaurants of those concepts at December 30, 2025.
Sources
- Texas Roadhouse, Inc., Form 10-K for fiscal year ended December 30, 2025, SEC EDGAR, filed Feb 27, 2026, accessed November 3, 2026.
- Texas Roadhouse, Inc., Form 10-Q for the quarter ended June 30, 2026, SEC EDGAR, filed Aug 7, 2026, accessed November 3, 2026.
- Texas Roadhouse, Inc., Form 10-K, fiscal 2024, accessed November 3, 2026.
- Texas Roadhouse, Inc., Form 10-K, fiscal 2023, accessed November 3, 2026.
- Texas Roadhouse, Inc., Form 10-K, fiscal 2022, accessed November 3, 2026.
- Texas Roadhouse, Inc., Form 10-K, fiscal 2021, accessed November 3, 2026.
- Texas Roadhouse, Inc., Form 10-K, fiscal 2020, accessed November 3, 2026.
- Texas Roadhouse, Inc., Form 10-K, fiscal 2019, accessed November 3, 2026.
- Texas Roadhouse, Inc., Form 10-K, fiscal 2016, accessed November 3, 2026.
- Texas Roadhouse, Inc., Form 10-K, fiscal 2015, accessed November 3, 2026.
- Texas Roadhouse, Inc., Form 10-K, fiscal 2014, accessed November 3, 2026.
- Texas Roadhouse, Inc., Form 10-K, fiscal 2009, accessed November 3, 2026.
- Texas Roadhouse, Inc., Form 10-K, fiscal 2007, accessed November 3, 2026.
- Texas Roadhouse, Inc., Form 10-K, fiscal 2005, accessed November 3, 2026.
- Texas Roadhouse, Inc., Form S-1 registration statement, filed May 7, 2004, accessed November 3, 2026.
- U.S. Securities and Exchange Commission, EDGAR full-text search, “40,000 initial franchise fee,” Texas Roadhouse 10-K filings, run November 3, 2026.
- Federal Trade Commission, 16 CFR Part 436, Disclosure Requirements and Prohibitions Concerning Franchising (sections 436.1, 436.2, 436.8; thresholds amended at 89 FR 57078, July 12, 2024), eCFR, accessed November 3, 2026.
- Minnesota Department of Commerce, CARDS franchise registrations search, search for Clean FDD “Texas Roadhouse,” November 3, 2026.