Hardee's franchise startup costs run $1.5M–$3M for a quick-service burger restaurant, primarily in Western US markets. Hardee's is operated by CKE Restaurants Holdings alongside Carl's Jr. — the two brands share a common menu and operational platform.
Hardee's is a quick-service burger restaurant chain primarily concentrated in the Eastern and Midwestern US, operated by CKE Restaurants Holdings alongside Carl's Jr. (the Western US counterpart). Founded in 1960 in Greenville, North Carolina, Hardee's built its identity around charbroiled burgers and made-from-scratch biscuits — the biscuit platform is a significant differentiator at breakfast, where the brand competes aggressively with other QSR chains. As of 2026, Hardee's operates approximately 1,800+ locations in the US. CKE Restaurants is owned by private equity firm Roark Capital Group, which also holds Arby's, Buffalo Wild Wings, and several other franchise systems. For prospective franchisees, Hardee's offers an established QSR brand with a strong breakfast daypart and a franchisor that operates dual-brand infrastructure across CKE's portfolio.
Per the current FDD, total estimated initial investment for a Hardee's franchise runs $1,500,000–$3,000,000. Full QSR restaurant construction — including kitchen build-out, drive-through infrastructure, and branded interiors — drives investment at the higher end of the QSR spectrum:
Hardee's franchisees pay a 4% royalty on gross sales plus a 5% advertising fund contribution — for a combined 9% of gross sales. The 4% royalty is competitive for a legacy QSR burger brand; the 5% ad fund is substantial and supports national and regional media spend that drives consistent brand traffic. CKE's shared infrastructure across Hardee's and Carl's Jr. allows marketing spend and operational development to benefit both brands simultaneously. Franchisees also participate in local advertising cooperatives in their markets.
Hardee's requires prospective franchisees to demonstrate net worth of $1,000,000 or more and liquid capital of $500,000 or more. Multi-unit restaurant experience or food service operational background is strongly preferred — CKE evaluates candidates on operational competency, financial depth, and real estate access in target markets. First-time franchisees are evaluated case-by-case; prior QSR experience improves approval probability.
Hardee's is listed on the SBA Franchise Directory, qualifying franchisees for expedited SBA loan processing. Common financing paths:
Hardee's is on the SBA Franchise Directory, enabling expedited eligibility review for SBA-approved lenders. At $1.5M–$3M, this is a high-investment QSR build where deal structure — new construction vs. conversion, leased vs. owned real estate — significantly shapes the financing package. Key factors lenders evaluate:
For pad-site builds or real estate acquisition, a 504 + 7(a) layer structure applies: SBA 504 for land and building at long-term fixed rates; SBA 7(a) for equipment, interior build-out, franchise fee, and working capital. For conversion builds (taking over an existing QSR space), a 7(a)-only structure is typical. Kitchen equipment including charbroilers and fryers is Section 179-eligible in the year placed in service.
ClearValue Lending works with QSR franchise operators — including burger concepts at this investment range — on SBA and equipment financing structures. Apply at Find my match. Your file routes to one matched lender. Use our SBA loan payment calculator to model monthly payments.
Per the current FDD, total estimated initial investment runs $1,500,000–$3,000,000. Full-service QSR construction — kitchen build-out, drive-through infrastructure, and branded interiors — is the primary cost driver.
Both Hardee's and Carl's Jr. are operated by CKE Restaurants Holdings and share a common menu and operational platform. Hardee's operates primarily in Eastern and Midwestern US markets; Carl's Jr. is concentrated in the Western US. The dual-brand structure means franchisees benefit from shared product development and marketing infrastructure.
Hardee's charges a 4% royalty on gross sales plus a 5% advertising fund contribution, for a combined 9% of gross sales.
Hardee's is owned by CKE Restaurants Holdings, which is in turn owned by private equity firm Roark Capital Group.
Yes. Hardee's is on the SBA Franchise Directory. SBA 7(a) covers franchise fee, construction, equipment, and working capital. SBA 504 is an option for franchisees pursuing real estate ownership.
SBA guidelines set a minimum DSCR of 1.15× — the business must generate $1.15 in cash flow for every $1.00 in annual debt service. On Hardee's builds in the $1.5M–$3M range, lenders typically require 1.25×–1.35× to account for construction ramp time and the initial traffic-build period. Hardee's strong breakfast daypart (biscuits + chicken) can be documented separately in the pro forma to demonstrate daypart diversification. Source: SBA SOP 50 10 7 (sba.gov).
SBA requires a minimum 10% equity injection of total project cost. On Hardee's builds, lenders typically require 20–25% borrower equity — on a $2.25M midpoint, that's $450K–$563K in documented borrower funds. Equity can come from personal savings or ROBS (retirement account rollover); borrowed equity does not qualify under SBA rules. Source: SBA SOP 50 10 7, Subpart B, Chapter 4.