Panda Express Franchise: Cost, Fees & Earnings
2,502 locations (2024), +3.7% YoY(Item 20)
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Median Revenue (AUV)
$1,328,594
Source: 2026 FDD, Item 19
Initial Investment
$514,500 – $3,275,500
Source: 2026 FDD, Item 7
Franchise Fee
$12,500
Source: 2026 FDD, Item 5
Royalty
max(8% of revenue, $4,000/mo)
Source: 2026 FDD, Item 6
About Panda Express
Panda Express franchises offer limited-service Chinese and Asian cuisine, emphasizing convenience and quality. Restaurants operate in diverse locations like shopping centers, airports, and campuses. The business model focuses on on-premises dining and carry-out, featuring gourmet Chinese and Asian food, beverages, and related items. Target markets are the general public, often within captive venues like military facilities and universities. The value proposition lies in providing a consistent, recognizable brand experience with specified recipes, proprietary products, and standardized operating procedures. Franchisees operate under the Panda Express System, ensuring uniformity and brand integrity.
Gross Sales by Performance TierSource: 2026 FDD Item 19
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Explore all brands →AUV Trend — Multi-Year Median Revenue
Additional Item 19 Analysis
Deeper Item 19 Analysis (Charts 3–6)
Openings & Closings, Transfer Rates, Franchise vs Corporate Mix
Panda Express vs Competitors
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Panda Express Franchise FAQ
How much does a Panda Express franchise cost?
Per Item 7 of the 2026 FDD Franchise Disclosure Document, the estimated initial investment ranges from $514,500 to $3,275,500.
What is the Panda Express franchise fee?
The FDD reports an initial franchise fee of $12,500 to $25,000.
What royalty does Panda Express charge?
The FDD reports an ongoing royalty of max(8% of revenue, $4,000/mo).
How much revenue does a Panda Express franchise generate?
The 2026 FDD reports a median revenue per unit of $1,328,594 for fiscal year 2025. Individual results vary.
Can I finance a Panda Express franchise with an SBA loan?
Many franchise purchases are financed with SBA 7(a) loans covering a large share of the total project cost. You can check what you'd qualify for with Franchable's free SBA prequalification.
Data sourced from the brand's Franchise Disclosure Document. Franchable is not affiliated with or endorsed by Panda Express. This is not an offer to sell a franchise. Individual results vary.