What QSR International does

QSR International is a privately held master franchise developer headquartered in Guachipelín, Escazú, Costa Rica. The company holds exclusive master franchise rights for three U.S.-origin quick-service restaurant brands — Quiznos (toasted sandwiches), Smashburger (better-burger fast casual), and Teriyaki Experience (Asian-inspired teppanyaki) — across Latin America and the Caribbean. As of available disclosures, QSR International operates 55 restaurant units across 7 countries, with the majority of directly-operated locations concentrated in Costa Rica (32 Quiznos, 3 Smashburger, and 7 Teriyaki Experience restaurants).

The company's business model is a multi-brand master franchise licensing and operating structure. QSR International generates revenue from two streams: (i) direct operation of company-owned restaurant units and (ii) franchise royalties, initial franchise fees, and ongoing fees collected from sub-franchisees operating under the three brands within the master territory. The go-to-market is exclusively B2B franchise recruitment — the company targets experienced multi-unit restaurant operators via its corporate website (qsr.co), brand-specific landing pages, downloadable franchise presentations, and a standardized franchise application form. Franchisee support is centralized at the Restaurant Excellence Center in Escazú, which provides training and operational development programs.

Operationally, the company runs a lean infrastructure: a single headquarters and training facility in Costa Rica, no proprietary technology platform, no mobile application, no public-facing digital ordering system, and no disclosed digital product roadmap. Customer support contact points are a single email ([email protected]) and phone line. The competitive positioning is built on the inherited brand equity of its three licensed concepts and the territorial exclusivity granted by the master franchise agreements. There is no evidence of in-house technology development, data assets, or AI/ML capabilities.

Name

QSR International

Legal name

QSR International

Website

https://qsr.co

Company type

Private

Operating status

Operating

Short description

QSR International is a Costa Rica-based multi-brand master franchise developer that owns and operates the exclusive regional rights for Quiznos, Smashburger, and Teriyaki Experience across Latin America and the Caribbean, running 55 restaurant units across 7 countries.

Ownership category

akta.pro rank

Product category

Quick-Service Restaurant Franchising

NAICS

Limited-Service Restaurants (722513)

SIC

Retail-Eating Places (5812)

akta.pro primary industry

Multi-Concept / Global QSR Chains (Mixed Menus) (THAFAAAO)

akta.pro secondary industries

Sandwiches & Subs QSR (THAFAAAD), Burger QSR (THAFAAAA)

Keywords

• Master franchise development
• Quick-service restaurants
• Multi-brand franchising
• Restaurant franchise operations
• Franchise royalty licensing

Headquarters

HQ city

Guachipelín

HQ country

Costa Rica

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Franchise Royalties and Fees: QSR International generates revenue as a Master Franchise developer by owning and operating franchise rights for Quiznos, Smashburger, and Teriyaki Experience across Latin America and the Caribbean. The company collects franchise fees and royalties from franchisees operating units under these brands.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

QSR International is a multi-brand master franchise developer for quick-service restaurants. It owns and operates the master franchise rights for Quiznos, Smashburger, and Teriyaki Experience across 7 countries in Latin America and the Caribbean, currently running 55 units and sub-franchising the three brands to qualified multi-unit operators. The company also provides franchisee training through its Restaurant Support Center and Restaurant Excellence Center in Costa Rica.

Product overview

QSR International is a multi-brand Master Franchise quick-service restaurant developer operating a portfolio of three distinct fast food brands: Quiznos (toasted sandwiches, soups, and salads since 1980s), Smashburger (fresh never frozen beef burgers and casual dining), and Teriyaki Experience (Asian-inspired fast food since 1986). The company operates 55 restaurant units across 7 countries in Latin America and the Caribbean, with its headquarters and training center in Costa Rica.

Differentiator

Problem solved

Functional benefit

Brands

• Quiznos: The pioneer in toasted sandwiches with highest quality ingredients and more than 40 years of experience. QSR owns and operates 32 Quiznos locations in Costa Rica.
• Smashburger
• Teriyaki Experience

Products and services

• Quiznos Franchise (Master Franchise Rights, Latin America and the Caribbean) Master franchise offering for the Quiznos toasted sandwich concept, including rights to operate sub, soup, and salad units using butcher-quality meats, all-natural cheeses, chef-designed signature sauces, and toasted artisan bread. Targeted at experienced multi-unit restaurant operators across Latin America and the Caribbean.
• Smashburger Franchise (Master Franchise Rights, Latin America and the Caribbean) Master franchise offering for the Smashburger better-burger concept, including rights to operate fresh never-frozen beef burger units smashed on the grill, plus chicken sandwiches, black bean burgers, salads, signature sides, and Häagen-Dazs shakes. Targeted at experienced multi-unit restaurant operators across Latin America and the Caribbean.
• Teriyaki Experience Franchise (Master Franchise Rights, Latin America and the Caribbean) Master franchise offering for the Teriyaki Experience Asian-inspired fast-food concept, including rights to operate teppanyaki grill units serving rice and noodle meals finished with proprietary Asian-inspired secret sauces. Targeted at experienced multi-unit restaurant operators across Latin America and the Caribbean.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• QuiznoscoreOEM/ Whitelabel/ Licensing PartnerQSR International owns and operates the Master Franchise for Quiznos in Latin America and the Caribbean. Quiznos is a toasted sandwich pioneer with over 40 years of experience, known for toasted subs with high-quality ingredients.
• SmashburgercoreOEM/ Whitelabel/ Licensing PartnerQSR International owns and operates the Master Franchise for Smashburger in Latin America and the Caribbean. Smashburger is a leading fast casual better burger restaurant known for its never frozen beef burgers smashed on the grill.
• Teriyaki ExperiencecoreOEM/ Whitelabel/ Licensing PartnerQSR International owns and operates the Master Franchise for Teriyaki Experience in Latin America and the Caribbean. Teriyaki Experience delivers fast, fresh, and healthy Asian-inspired fast food since 1986, with over 110 restaurants worldwide.

Scale indicators5 records

Recent moves3 records

Expansion highlights3 records

Broad incumbents

• Inspire Brands: Multi-brand QSR platform owning Arby's, Buffalo Wild Wings, Sonic, Dunkin', and Jimmy John's. Increasingly relevant as multi-brand franchise consolidation becomes the dominant QSR model, mirroring QSR International's three-brand portfolio strategy at much larger scale.
• Yum! Brands: Parent company of KFC, Pizza Hut, Taco Bell, and Habit Burger — a multi-brand global QSR platform. Relevant incumbent because it sets franchise economics, royalty rates, and master franchise terms that govern QSR International's own brand agreements and LATAM competitive context.
• Restaurant Brands International: Parent of Burger King, Tim Hortons, Popeyes, and Firehouse Subs. Sets the global master-franchise and royalty framework for several QSR brands and represents a potential strategic acquirer or competitor for LATAM franchise rights.
• International Dairy Queen: Operates a master franchise network across the Americas for the DQ brand. Comparable franchise-system architecture and LATAM regional franchisee dynamics to QSR International's Quiznos/Smashburger/Teriyaki territory model.
• The Wendy's Company: US burger QSR parent that grants and manages international master franchise rights, including in Latin America. Comparable to Quiznos/Smashburger in brand positioning and franchise-driven unit growth model.

Direct peers

• Alsea: Mexico-headquartered multi-brand QSR restaurant operator and master franchisee for Domino's, Starbucks, Burger King, Vips, and others across Latin America and Europe. Closest peer in multi-brand master-franchise model, scale, and LATAM market exposure.
• Arcos Dorados Holdings: Master franchisee for McDonald's across 20+ Latin American and Caribbean countries, operating ~2,400 restaurants. Direct structural peer to QSR International — same master-franchise-developer business model, same regional footprint, with publicly traded comparables that anchor QSR valuation logic.
• Domino's Pizza Enterprises: Master franchisee for Domino's Pizza across Australia, New Zealand, Europe, and Japan. A direct comparable in master-franchise unit economics, multi-region sub-franchising, and royalty-driven revenue model.

Regional players

• Pollo Campero: Guatemala-born chicken QSR chain with deep Central American presence and US expansion. Strong regional competitor to QSR International's Quiznos/Smashburger/Teriyaki units in shared Costa Rica and Central American markets.
• Zamp (Burger King Brazil): Master franchisee for Burger King and Popeyes in Brazil. Emerging regional QSR franchisee player operating a multi-brand model in a single large LATAM market, structurally analogous to QSR International's multi-brand regional play.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about QSR International