A Raising Cane’s franchise is not for sale: the company’s FAQ says it is “not entertaining franchise or development opportunities anywhere at this time,” and a Minnesota registry search on November 2, 2026 found no Raising Cane’s FDD.
Key takeaways
- Raising Cane’s FAQ, in a capture dated August 31, 2026, says the company is building “Company-affiliated Restaurants” and is “not entertaining franchise or development opportunities anywhere at this time” (Raising Cane’s FAQ, Wayback Machine).
- The same Raising Cane’s FAQ capture names five “franchise locations” that refuse its gift cards: The University of Alabama, Ole Miss, DFW Airport, Clemson and East Carolina University.
- Franchisees run about 3% of Raising Cane’s restaurants, down from about a quarter when the chain had roughly 200 units, according to CNBC reporting from June 30, 2025.
- A Minnesota CARDS search for “Raising Cane” on November 2, 2026 returned no Clean FDD rows; Minn. Stat. §80C.02 bars offering a franchise in Minnesota without an effective registration.
- Chicken systems that do file list their costs: the amended 2026 Chick-fil-A FDD shows $317,521 to $3,463,155 in Item 7, and the March 20, 2026 Popeyes FDD shows $504,545 to $3,923,245 across two formats.
What did Raising Cane’s say about franchising on its own FAQ page?
Raising Cane’s answers the franchise question in its own FAQ, under the tab “Restaurant Information & Franchising.” The answer, read from a Wayback Machine capture dated August 31, 2026, says the company is developing “Company-affiliated Restaurants in a very specific geography,” still supports “existing franchise business partners,” and is not taking franchise or development requests anywhere. No application form sits behind it.
“Currently, we are focused on the rapid development of Company-affiliated Restaurants in a very specific geography, while continuing to support our existing franchise business partners. Unfortunately, we are not entertaining franchise or development opportunities anywhere at this time. But if you have a recommendation for a location, please contact us.” Raising Cane’s FAQ, capture of August 31, 2026
The live site at raisingcanes.com returned HTTP 403 to our requests on November 2, 2026, so we read the archived FAQ page and its embedded FAQPage data instead. The wording may change after August 31, 2026, so recheck the live FAQ before you rely on it.
| Topic | Exact wording in the FAQ | What it tells a would-be buyer |
|---|---|---|
| Franchise availability | “not entertaining franchise or development opportunities anywhere at this time” | No U.S. or international franchise application is open |
| Existing partners | “continuing to support our existing franchise business partners” | Some franchised units exist; they predate the current policy |
| Company units | One W-2 covers “all Company owned Restaurants” | The crew FAQ treats company ownership as the norm |
| Ownership | “Since Raising Cane’s is a privately owned Company, we do not sell stock.” | No public shares to buy instead |
| Origin | “founded by Todd Graves in 1996 in Baton Rouge, LA” | Founded 30 years before this review, in 1996 |
| Support offices | Baton Rouge, LA and Plano, TX | No separate franchise development office is listed |
Which Raising Cane’s restaurants are franchise locations today?
The company identifies some franchised units itself. Its gift-card answer says “select franchise locations” do not accept Raising Cane’s gift cards and lists five by address: four university campuses and one airport. CNBC reported on June 30, 2025 that franchisees run about 3% of the chain’s restaurants, which fits a small set of venue deals rather than an open program.
| Franchise location named in the FAQ | Address as printed | Venue type |
|---|---|---|
| The University of Alabama | 210 McCorvey Drive, Tuscaloosa, AL | University campus |
| Ole Miss | 900 Hill Drive, Oxford, MS | University campus |
| DFW Airport | 2141 S. International Parkway, DFW Airport, TX | Airport |
| Clemson | 511 Fort Hill Street, Clemson, SC | University campus |
| East Carolina University | 501 E Tenth Street, Greenville, NC | University campus |
The franchised share has shrunk over a decade. CNBC reports that AJ Kumaran joined as chief operating officer in 2014, when Raising Cane’s had roughly 200 locations and about a quarter were franchised; he now shares the co-CEO title with Todd Graves. Kumaran told CNBC, “we are operators, and we’re good at it.”
Outside the United States, CNBC lists restaurants in the UAE, Bahrain, Kuwait, Saudi Arabia and Qatar and says expansion abroad “may involve” franchising or a joint venture with a partner. Any such arrangement would be a partner deal the company negotiates, and the August 2026 FAQ still says no requests are being taken “anywhere.”
Is there a Raising Cane’s FDD on file with a state regulator?
Not in Minnesota. A search of the Minnesota Department of Commerce CARDS database for “Raising Cane” on November 2, 2026 returned no Clean FDD rows. Minnesota is one of the registration states: under Minn. Stat. §80C.02, no one may offer or sell a franchise there without an effective registration statement on file, unless a §80C.03 exemption applies.
| Check | Rule and citation | What the rule requires | Raising Cane’s result |
|---|---|---|---|
| Check 1: the company’s own words | Brand FAQ or franchising page | A public statement that franchises are offered, with a contact route | “not entertaining franchise or development opportunities anywhere at this time” |
| Check 2: a state franchise registry | Minn. Stat. §80C.02 | An effective registration before any offer or sale in Minnesota | No Clean FDD rows on November 2, 2026 |
| Check 3: the FTC disclosure step | 16 CFR 436.2(a) | The FDD reaches a buyer at least 14 calendar-days before signing or paying | No current FDD found to hand a buyer |
| What counts as a franchise | 16 CFR 436.1(h) | Trademark rights, significant control or assistance, and a required payment | Terms of the existing partner agreements are not public |
| Large-investment exemption | 16 CFR 436.8(a)(5)(i) | An investment of at least $1,469,600, excluding unimproved land and franchisor financing, plus a signed acknowledgment | No public record either way for the existing partners |
A missing Minnesota row has limits. Section 80C.02 covers offers made in Minnesota only, and a franchisor that is not selling has no reason to register in any of the states listed in our franchise registration states research. The empty search fits the FAQ wording; it does not show what the five campus and airport partners signed.
If someone pitches you a Raising Cane’s franchise anyway, ask for the disclosure document by name and read Items 1, 5, 7 and 21 first. Our explainer on how to read a Franchise Disclosure Document lists all 23 items and what each one discloses.
Raising Cane’s franchise cost figures online, checked against the record
Several high-ranking pages still print a Raising Cane’s franchise cost, from a $45,000 fee to a $3.3 million total. None of the figures we found traces to an FDD we could open, and the company says no franchise is offered. The table sets each claim beside the primary record, described neutrally and without naming the sites.
| Claim in other guides | What the primary record shows | Status |
|---|---|---|
| “$45,000 initial franchise fee, from the 2021 FDD” (FDD reseller blog, top 3 result) | No 2021 Raising Cane’s FDD was available to open; Minnesota CARDS shows no Clean FDD rows on November 2, 2026 | Cannot be verified; not a current fee |
| “Total investment of $1.8 million to $3.3 million” (lender page, 2026) | No filed Item 7 exists for any total | Estimate, not a disclosure |
| “Investment of $768,100 to $1,937,500” (franchise lead site) | No filed Item 7 exists for any total | Estimate, not a disclosure |
| “All locations are company-owned” (several guides) | FAQ refers to “existing franchise business partners” and names five franchise locations | Incorrect |
| “Six franchise partners run 90 franchise locations” (restaurant trade blog, undated) | CNBC, June 30, 2025: franchisees run about 3% of more than 900 restaurants | Unsourced; conflicts with the dated report |
Questions about what a Raising Cane’s owner takes home have no filed answer. Owner results for any franchise belong in Item 19 of that brand’s current FDD, and Raising Cane’s has none on file in Minnesota. Our Item 19 research report explains what those sections contain and how to read them.
How has the company-run model grown since 2024?
Without franchisees funding new units, Raising Cane’s still adds roughly 100 restaurants a year. Nation’s Restaurant News reported 828 locations at the end of 2024, citing Technomic data, and a 1,000th restaurant set to open at 6933 Hollywood Blvd in March 2026, with 100 openings planned for 2026, “a similar pace to 2025.”
| Date | Event | Source |
|---|---|---|
| 1996 | Todd Graves founds Raising Cane’s in Baton Rouge, LA | Raising Cane’s FAQ (Wayback capture, Aug 31, 2026) |
| End 2024 | 828 locations at year end | Technomic data cited by Nation’s Restaurant News, Mar 19, 2026 |
| Jun 2025 | More than 900 locations in 42 states; franchisees run about 3% | CNBC, Jun 30, 2025 |
| Mar 2026 | 1,000th restaurant set to open at 6933 Hollywood Blvd; 100 openings planned | Nation’s Restaurant News, Mar 19, 2026 |
| Aug 2026 | FAQ: not entertaining franchise or development opportunities anywhere | Raising Cane’s FAQ, Wayback capture of Aug 31, 2026 |
| Nov 2026 | Minnesota CARDS search “Raising Cane”: no Clean FDD rows | Minnesota Department of Commerce CARDS, checked Nov 2, 2026 |
CNBC counted 118 openings in 2024 and noted the footprint had grown from just over 500 locations in 2020. In the March 2026 NRN interview, Todd Graves set a target of 1,600 restaurants. The FAQ describes that development as “Company-affiliated Restaurants,” so the pipeline creates no franchise inventory for outside buyers.
Raising Cane’s is not alone in skipping U.S. franchising at this scale. Our Chipotle franchise page checks a similar company-operated claim against SEC filings, which a private company like Raising Cane’s does not have to file.
What does a chicken chain that does franchise disclose in its FDD?
Two national chicken systems had current FDDs in Minnesota CARDS when we checked: the Chick-fil-A Operator Program, issued March 31, 2026 and amended October 2, 2026, and Popeyes Louisiana Kitchen, issued March 20, 2026. Listed alphabetically and not ranked, they show the documents a Raising Cane’s buyer would read if the company ever filed one.
| System | FDD issued | Initial fee (Item 5) | Item 7 total | Ongoing fee example (Item 6) | Item 19 | Source |
|---|---|---|---|---|---|---|
| Chick-fil-A Operator Program | March 31, 2026, amended October 2, 2026 | $10,000, of which $5,000 is held as a working capital deposit | $317,521 to $3,463,155 (traditional restaurant) | Advertising contribution of 0% since 6/30/89 as internal policy, 0% to 3.25% allowed | Included | Minnesota CARDS doc 37426-202610-03 |
| Popeyes Louisiana Kitchen | March 20, 2026 | $50,000; fees paid in fiscal 2025 ranged $0 to $50,000 | $504,545 to $1,968,245 in-line; $1,222,045 to $3,923,245 free-standing; real estate excluded | Royalty 5% of Gross Sales; advertising 4.6% to 5.0% | Included | Minnesota CARDS doc 35549-202603-10 |
| Raising Cane’s | No Clean FDD rows (November 2, 2026) | None filed | None filed | None filed | None filed | Minnesota CARDS search |
Item 7 totals: Chick-fil-A $317,521 to $3,463,155; Popeyes in-line $504,545 to $1,968,245; free-standing $1,222,045 to $3,923,245. Source: 2026 FDDs, Minnesota CARDS, accessed Nov 2, 2026.
The two ranges differ because the operating models differ. Chick-fil-A’s Item 7 lists a first month’s equipment rental of $4,000 to $8,900 and a premises lease of $3,500 to $100,655, both paid to Chick-fil-A, because the Operator leases rather than builds. Popeyes’ free-standing column includes a building line of $700,000 to $1,600,000. Our Chick-fil-A franchise cost breakdown and Popeyes franchise cost breakdown go line by line.
Who runs the restaurants: franchisees or the company?
The two filed chicken systems are near mirror images of Raising Cane’s. Item 20 of each FDD shows franchisees running about 97% of restaurants at the end of 2025, while CNBC reported in June 2025 that franchisees run about 3% of Raising Cane’s restaurants. The worked table uses the counts exactly as printed in Item 20, Table No. 1.
| System | Franchised, end 2025 | Company-owned, end 2025 | Total | Franchised share (worked) | Source |
|---|---|---|---|---|---|
| Chick-fil-A | 2,795 | 68 | 2,863 | 2,795 ÷ 2,863 = 97.6% | Item 20, Table No. 1 (424 licensed units excluded) |
| Popeyes | 3,134 | 95 | 3,229 | 3,134 ÷ 3,229 = 97.1% | Item 20, Table No. 1 |
| Raising Cane’s | Not disclosed | Not disclosed | More than 900 (June 2025) | About 3%, as reported | CNBC, June 30, 2025 |
Franchisees ran 97.6% of Chick-fil-A and 97.1% of Popeyes restaurants at the end of 2025 (Item 20) versus about 3% at Raising Cane’s (CNBC, Jun 30, 2025).
Inside the filed systems, owners often hold more than one unit. Chick-fil-A’s Item 5 says about 25% of its franchised Operators had two or more restaurant businesses as of December 31, 2025, and Popeyes’ company-owned count moved from 41 to 98 during 2024 before ending 2025 at 95. Our guide to franchisee and franchisor roles explains who carries which costs in each model.
For the wider picture, our restaurant franchise statistics report compares franchisee-owned and franchisor-owned restaurant counts by state from the 2017 Economic Census.
If you came for a Raising Cane’s franchise, which route fits?
The right next step depends on what drew you to the Raising Cane’s franchise idea: the brand itself, a chicken-finger menu, or a restaurant with a disclosed cost. Each row below names the record or document to check next. None of the routes runs through Raising Cane’s, whose August 31, 2026 FAQ says no franchise or development request is being taken.
| If you | Then | Check next |
|---|---|---|
| Want the Raising Cane’s brand itself | No purchase route exists as of the August 31, 2026 FAQ; the company only invites location recommendations | The live FAQ and a registration-state search before acting on any claim |
| Receive an offer described as a Raising Cane’s franchise | Ask for the FDD; under 16 CFR 436.2(a) it must reach you 14 calendar-days before you sign or pay | Minnesota CARDS or another registration state, searched by the seller’s legal name |
| Want a chicken restaurant with a filed cost | Compare Item 7 of current chicken FDDs: $317,521 to $3,463,155 (Chick-fil-A) or $504,545 to $3,923,245 (Popeyes) | Items 5, 6, 7 and 20 of each FDD |
| Plan to invest $1,469,600 or more | The large-investment exemption in 16 CFR 436.8(a)(5)(i) can let a deal skip the FDD, so request the same disclosures in writing | The signed acknowledgment, reviewed by a franchise lawyer |
| Want to own part of Raising Cane’s | The company is private and does “not sell stock” | Raising Cane’s FAQ |
| Want help shortlisting filed chicken systems | A consultant can pull current FDDs and compare Items 5 to 7 side by side | Our guide to what a franchise consultant does |
This page is general information drawn from public records dated August 2026 to November 2026 and is not legal, financial or investment advice.
How we compiled this
We read Raising Cane’s FAQ through a Wayback Machine capture dated August 31, 2026, because the live site returned HTTP 403 to our requests, plus CNBC (June 30, 2025) and Nation’s Restaurant News (March 19, 2026) reporting. We searched Minnesota CARDS on November 2, 2026, opened the Chick-fil-A and Popeyes FDDs filed there, and checked 16 CFR Part 436 and Minn. Stat. §80C.02: 6 primary documents in total, accessed November 2026. Two chicken-tender brands we also searched returned no Minnesota rows and are left out. We excluded sales, unit volume and profit figures, chain rankings and franchisee names.
Frequently asked questions
Is Raising Cane's a franchise?
Mostly no. Raising Cane’s runs nearly all of its restaurants itself; CNBC reported on June 30, 2025 that franchisees operate about 3% of them. The company’s FAQ, in an August 31, 2026 capture, mentions “existing franchise business partners” and names five franchised campus and airport units, but says it is not entertaining franchise or development opportunities anywhere.
How much is a Raising Cane's franchise?
There is no current price because no franchise is offered. A Minnesota CARDS search on November 2, 2026 found no Raising Cane’s FDD, so there is no Item 7 estimate to quote. Figures such as a $45,000 fee or a $1.8 million to $3.3 million total come from third-party pages, not from a filing we could open.
How much does a Raising Cane's franchise owner make?
No filed figure exists. Owner results for any franchise appear only in Item 19 of that brand’s current FDD, and Raising Cane’s had no FDD on file in Minnesota on November 2, 2026. For chicken systems that do file, such as Chick-fil-A and Popeyes, Item 19 is included in their 2026 FDDs, and owner income also depends on the Item 6 fees and Item 7 costs.
Can I buy Raising Cane's stock instead of a franchise?
No. The company’s FAQ says “Since Raising Cane’s is a privately owned Company, we do not sell stock.” Founder Todd Graves started the business in Baton Rouge in 1996 and shares the co-CEO title with AJ Kumaran, according to CNBC’s June 30, 2025 report. Job openings, not ownership stakes, are what the FAQ points visitors toward.
Why doesn't Raising Cane's sell franchises?
The company describes itself as an operator. Co-CEO AJ Kumaran told CNBC in June 2025, “we are operators, and we’re good at it,” and said the company wants full control over how restaurants run. When he joined in 2014, about a quarter of roughly 200 locations were franchised; by 2025 the share was about 3%.
Will Raising Cane's offer franchises in the future?
Nothing filed says so. The FAQ wording, captured August 31, 2026, uses the phrase “at this time,” which leaves room for change, and CNBC reported that expansion abroad may involve franchising or a joint venture with a partner. A U.S. offer would require an FDD delivered 14 calendar-days before signing under 16 CFR 436.2(a).
Sources
- Raising Cane’s, FAQ page (Wayback Machine capture of August 31, 2026), accessed November 2, 2026.
- CNBC (Amelia Lucas), report on Raising Cane’s company-operated growth, June 30, 2025, republished by NBC 6 South Florida, accessed November 2, 2026.
- Nation’s Restaurant News (Alicia Kelso), “Raising Cane’s ready to open its 1,000th location”, March 19, 2026, accessed November 2, 2026.
- Minnesota Department of Commerce, CARDS franchise registration search for “Raising Cane”, checked November 2, 2026.
- Chick-fil-A, Inc., Chick-fil-A Operator Program Franchise Disclosure Document, issued March 31, 2026 as amended October 2, 2026, Items 5, 6, 7, 19 and 20 (Minnesota CARDS document 37426-202610-03), accessed November 2, 2026.
- Popeyes Louisiana Kitchen, Inc., Franchise Disclosure Document, issued March 20, 2026, Items 5, 6, 7, 19 and 20 (Minnesota CARDS document 35549-202603-10), accessed November 2, 2026.
- Electronic Code of Federal Regulations, 16 CFR Part 436 (FTC Franchise Rule), sections 436.1(h), 436.2(a) and 436.8(a)(5)(i), accessed November 2, 2026.
- Minnesota Statutes §80C.02, Registration requirement (Office of the Revisor of Statutes), accessed November 2, 2026.