1983
500
$1,200,000
$50,000
$2,100,000
No
First Watch is one of America’s most beloved daytime dining franchises, known for redefining breakfast, brunch, and lunch with a fresh and modern approach. Since its inception, the brand has built a sterling reputation for offering craveable, chef-driven dishes made from scratch — served with a warm, community-focused spirit. With over 500 locations across the United States and a strong track record of franchise success, First Watch has become a leading name in the fast-growing daytime dining segment.
Unlike traditional full-service restaurants, First Watch operates exclusively during daytime hours — opening early in the morning and closing by mid-afternoon. This model offers franchise owners a rare lifestyle advantage with no late nights, lower labor costs, and a consistent customer flow. The brand’s commitment to quality ingredients, made-to-order meals, and friendly service has positioned it as a preferred choice for health-conscious diners and families nationwide.
From signature items like the Avocado Toast, Million Dollar Bacon, and Lemon Ricotta Pancakes to their house-made juices and premium coffee, First Watch continues to attract loyal customers across generations. For entrepreneurs looking to invest in a franchise that combines operational excellence, strong brand equity, and sustainable profitability, First Watch stands out as a proven and rewarding opportunity.
Why Invest in this Franchise?
Investing in a First Watch franchise means becoming part of a fast-growing, award-winning brand that dominates the breakfast and brunch market. The company has been repeatedly recognized by Forbes, Technomic, and Franchise Times as one of the top-performing restaurant franchises in the U.S.
Here’s why savvy investors choose First Watch:
Daytime-Only Hours: No late nights — providing a balanced lifestyle and manageable staffing.
Proven Market Demand: Breakfast and brunch dining is among the fastest-growing foodservice categories in the U.S.
Strong Brand Loyalty: A trusted name with a loyal customer base built over four decades.
High Average Unit Volume (AUV): Consistent revenue performance across markets.
Comprehensive Franchise Support: From site selection to grand opening, franchisees receive end-to-end guidance.
Commitment to Quality: Fresh ingredients, sustainable sourcing, and community engagement define the First Watch brand.
First Watch was founded in 1983 in Pacific Grove, California, by Ken Pendery and John Sullivan. The founders envisioned a dining concept that focused exclusively on breakfast and lunch, allowing guests to enjoy fresh, innovative meals in a relaxed, welcoming environment.
Over the years, First Watch grew steadily, moving its headquarters to Bradenton, Florida, and expanding across multiple states. The brand later partnered with Advent International, one of the world’s largest private equity firms, accelerating its national footprint.
Today, First Watch operates over 500 locations nationwide — with a mix of company-owned and franchised restaurants. The company is publicly traded on the NASDAQ under the ticker FWRG, further strengthening its transparency, credibility, and investor confidence.
Recognized as a leader in the casual dining and daytime café segment, First Watch continues to innovate with technology-driven ordering systems, modern interior designs, and menu offerings that reflect evolving consumer preferences.
First Watch is committed to ensuring every franchisee succeeds from day one. The brand provides a comprehensive training and support program that covers every aspect of restaurant ownership and management:
Pre-Launch Support:
Assistance with site selection and lease negotiation
Restaurant design, layout, and construction guidance
Vendor setup and supply chain onboarding
Initial Training Program:
6–8 weeks of hands-on training at an approved First Watch training restaurant
In-depth operational and customer service training for owners and managers
Food preparation, safety, and quality assurance practices
Marketing & Launch Support:
Localized marketing campaigns tailored to each community
Grand opening event planning and local PR support
Access to First Watch’s national marketing resources, brand assets, and advertising materials
Ongoing Operational Support:
Regular field visits and performance reviews
Continuous training updates for team members
Technology and POS system assistance
Guidance on menu updates, seasonal promotions, and customer engagement strategies
This hands-on approach ensures that franchise partners operate efficiently and maintain the high standards First Watch is known for nationwide.
The ideal First Watch franchisee is more than just an investor — they’re a hands-on operator or strategic partner who believes in delivering exceptional guest experiences while fostering a sense of community. First Watch looks for individuals and groups who align with its people-first culture, operational excellence, and dedication to quality dining.
Here’s what defines the perfect First Watch franchise partner:
Hospitality or Restaurant Experience: Prior ownership or management experience in foodservice, casual dining, or franchise operations is strongly preferred.
Multi-Unit or Multi-Brand Operators: Investors with experience managing multiple units or brand portfolios are highly encouraged to apply.
Business Leadership Skills: Proven expertise in managing teams, customer relationships, and financial performance.
Community-Oriented Mindset: Franchisees should be comfortable engaging with local communities, building partnerships, and creating a welcoming environment for guests.
Passion for Service: A genuine love for hospitality, food, and providing memorable dining experiences.
Operational Involvement: Even if franchisees hire a management team, active participation in operations, culture, and customer engagement is encouraged.
Values-Driven Leadership: Upholds integrity, teamwork, and quality — core principles that define the First Watch brand.
Lifestyle Balance: Appreciates the daytime-only operating hours, which promote a family-friendly work-life balance.
Minimum Liquid Capital: $500,000
Minimum Net Worth: $2 million
Multi-Unit Development Capability: Preference given to investors with the capacity to open 3 or more locations within a defined market over time.
Ideal franchisees understand the importance of selecting the right site — typically in suburban neighborhoods, affluent communities, mixed-use developments, and lifestyle centers. Locations that attract professionals, families, and weekend brunch enthusiasts perform best.
First Watch seeks partners who want to build a lasting business, not just a short-term investment. Franchisees are expected to nurture their teams, uphold consistent operational standards, and contribute to the brand’s continued national growth.
Below is a detailed breakdown of the estimated financial requirements and ongoing fees associated with owning a First Watch franchise in the United States. These figures reflect the brand’s most recent franchise disclosure estimates and industry averages for full-service breakfast and brunch concepts.
| Category | Estimated Cost (USD) | Description |
|---|---|---|
| Initial Franchise Fee | $50,000 | One-time fee paid to First Watch for the right to operate under the brand name. |
| Total Initial Investment | $1,200,000 – $2,100,000 | Includes all start-up costs such as construction, equipment, furnishings, and initial working capital. |
| Liquid Capital Required | $500,000 | Minimum available cash or readily convertible assets needed to qualify as a franchisee. |
| Minimum Net Worth | $2,000,000 | Demonstrates financial capability to sustain and expand multi-unit operations. |
| Royalty Fee | 4% – 5% of Gross Sales | Ongoing fee paid to the franchisor for continued brand use, support, and system access. |
| Marketing & Advertising Fee | 2% of Gross Sales | Contributes to both national brand campaigns and local marketing initiatives. |
| Leasehold Improvements / Construction | $400,000 – $800,000 | Costs for site build-out, interior design, and restaurant layout customization. |
| Equipment, Fixtures & Furnishings | $150,000 – $250,000 | Kitchen equipment, furniture, decor, and POS systems. |
| Signage & Branding | $15,000 – $25,000 | Exterior and interior branded signage. |
| Initial Inventory & Supplies | $10,000 – $25,000 | Food, beverages, and operating supplies for the grand opening. |
| Training Expenses | $15,000 – $25,000 | Travel, lodging, and training fees for owners and management during initial training. |
| Pre-Opening Marketing | $10,000 – $20,000 | Local advertising and promotional campaigns for the grand opening. |
| Working Capital (First 3 Months) | $100,000 – $200,000 | Covers payroll, utilities, and operating expenses until profitability. |
| Average Unit Volume (AUV) | $2,000,000+ annually | Typical annual sales volume across established franchise locations. |
| Expected ROI (Return on Investment) | 15% – 25% | Based on performance, location, and management efficiency. |
| Break-Even Timeline | 18 – 30 months | Average time for franchisees to reach operational profitability. |
| Franchise Term | 10 years (renewable) | Standard franchise agreement period with renewal options. |
Revenue Streams
First Watch franchise owners benefit from multiple, steady revenue streams throughout the year, including:
Dine-in Service: Core breakfast, brunch, and lunch offerings.
Takeout & Delivery: Growing share of revenue through online orders and mobile app integration.
Catering & Group Orders: Office breakfasts, weekend brunch events, and community catering.
Gift Cards & Retail Merchandise: Adds incremental sales and brand visibility.
