Freddy’s Frozen Custard & Steakburgers

What Freddy’s Frozen Custard & Steakburgers does

Freddy's Frozen Custard & Steakburgers is a U.S. fast-casual restaurant chain founded in 2002 in Wichita, Kansas by brothers Bill and Randy Simon and business partner Scott Redler, named after their father Freddy Simon, a WWII veteran. The company operates 580+ locations across 36 U.S. states and Canada as of late 2025, with 514 franchised and 36 company-owned units. Its menu centers on two product pillars: cooked-to-order steakburgers made with 100% lean ground beef pressed thin for crispy edges and finished with the proprietary Freddy's Famous Steakburger & Fry Seasoning, and premium frozen custard freshly churned daily in vanilla and chocolate, served across multiple formats including concretes, shakes, sundaes, malts, and pints/quarts. Supporting categories include combo meals, sandwiches, savory sides (shoestring fries, cheese curds, tots), kids meals, catering, and bottled sauces/seasonings sold via retail channels.

The business model is overwhelmingly franchise-driven, with revenue generated from a 5% royalty on franchisee gross receipts, sales from 36 company-owned restaurants, initial franchise fees, catering, gift cards, and merchandise (including bottled sauces and seasonings). Average unit volumes approach $2 million per location, with top-quartile units averaging $2.6 million in FY2024 gross receipts. The company has invested in a mobile app and Freddy's Rewards loyalty program (10 points per dollar), plus proprietary registered trademarked products (Freddy's Famous Steakburger & Fry Seasoning, Freddy's Famous Fry Sauce, Jalapeño Fry Sauce, Smoky Fry Sauce). Systemwide sales reached $1.040 billion in 2025, ranking #14 among top 50 grossing QSR concepts in the U.S. In September 2025, private equity firm Rhône Group acquired Freddy's for approximately $700 million, marking a major ownership transition. The company is led by co-founders Bill Simon and Randy Simon, with executive leadership including the newly appointed first CIO Todd Paladini and a growing franchise development team (VP Business Development Rafik Farouk, VP Franchise Sales Jackie Lobdell).

Name

Freddy’s Frozen Custard & Steakburgers

Legal name

Freddy's Frozen Custard & Steakburgers

Website

https://freddys.com

Company type

Private

Founded year

2002

Operating status

Operating

Short description

Freddy's Frozen Custard & Steakburgers is a fast-casual restaurant chain operating 580+ franchised and company-owned locations across 36 U.S. states and Canada, specializing in cooked-to-order steakburgers and freshly churned frozen custard.

Ownership category

akta.pro rank

Product category

Fast-Casual Restaurant Chain

NAICS

Limited-Service Restaurants (722513)

SIC

Retail-Eating & Drinking Places (5810), Retail-Eating Places (5812)

akta.pro primary industry

Burger Fast Casual (THAFABAA)

Keywords

• Fast casual dining
• Steakburger restaurant
• Frozen custard desserts
• Franchise restaurant chain
• Quick service meals

Headquarters

HQ city

Wichita

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Franchise Royalty Fees: 5% royalty fee on gross receipts collected from franchisees. Freddy's operates 514 franchised and 36 company-owned locations. The 496 locations operating in FY2024 reported average gross receipts of $1,891,124.
2. Company-Owned Restaurant Sales: Revenue from 36 company-owned restaurant locations. Franchise initial investment ranges from $785,936 to $2,753,566 depending on restaurant format.
3. Catering Services: Catering orders with lead time requirements: under $500 requires 2 hours notice, $500-$1,500 requires 20 hours, over $1,500 requires 68 hours advance notice.
4. Gift Cards and Merchandise: Gift cards sold at all locations and through online store. Merchandise including bottled sauces and seasonings sold via FreddysMerch.com.
5. Systemwide Sales: $1.040 billion in systemwide sales for 2025, ranking 14th among top 50 grossing QSR concepts in the U.S. Average unit volumes approaching $2 million.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Freddy's Frozen Custard & Steakburgers operates a fast-casual restaurant chain serving cooked-to-order steakburgers made with 100% lean ground beef and finished with its proprietary Freddy's Famous Steakburger & Fry Seasoning, alongside freshly churned frozen custard prepared daily in-store. The 580+ location network spans combo meals, sandwiches, savory sides, bowls, chicken items, hot dogs, kids meals, senior meals, and a rotating Summer Custard Tour menu, complemented by Freddy's Rewards loyalty program, mobile ordering app, catering services, and branded retail sauces and merchandise.

Product overview

Freddy's Frozen Custard & Steakburgers is a fast-casual restaurant chain operating over 580 locations across the United States and Canada. The company's product portfolio centers on two core offerings: cooked-to-order steakburgers made with 100% lean ground beef pressed thin to create crispy edges and finished with Freddy's Famous Steakburger & Fry Seasoning, and rich frozen custard freshly churned daily in vanilla and chocolate. The savory menu spans Combo Meals (steakburgers, chicken sandwiches, hot dogs, and tenders with sides and drinks), the standalone Sandwiches & More section, and Bowls (added June 2026 for lower-carb options). Frozen custard is offered across multiple preparations including concretes, shakes, frosts, sundaes, malts, floats, and pints/quarts. Freddy's expanded into premium beverages with the launch of Freddy's Bevies (custard cream sodas, teas, and lemonades) in mid-2026. Supporting product lines include Savory Sides (shoestring fries, tots, cheese curds, onion rings), a Kids Meals program, and Senior Meals (55+) added to the permanent menu in early 2026. Freddy's Sauces & Dressings are available as both in-restaurant condiments and By-the-Bottle retail products. The company also offers Catering services with customizable bars (Sundae Bar, Burger Bar, Hot Dog Bar) and a Freddy's Rewards loyalty program integrated through its mobile app.

Differentiator

Problem solved

Functional benefit

Products and services

• Combo Meals Cooked-to-order combo meals pairing a steakburger, chicken sandwich, hot dog, or tenders with a choice of side and medium drink, including signature items such as Freddy's Original Double Combo, Prime Rib Steakburger Combo, Grilled Cheese Steakburger Combo, Freddy's Original Patty Melt Combo, Jalapeño Pepper Jack Double Combo, California Style Double Combo, Crispy Chicken Club Sandwich Combo, Spicy Chicken Sandwich Combo, Grilled Chicken Club Sandwich Combo, All-Beef Hot Dog Combo, Chili Cheese Dog Combo, Veggie Burger Combo, and 3-piece and 5-piece Chicken Tender Combos.
• Frozen Custard Rich and creamy premium frozen custard, freshly churned throughout the day at each Freddy's restaurant, available in vanilla and chocolate and prepared in multiple formats including concretes, shakes, frosts, sundaes, malts, floats, and custard sandwiches. Signature items include Signature Turtle, Strawberry Dreamcake, Chocolate Brownie Delight, OREO Double Trouble, Reese's Royale, Peanut Butter Cookie Crunch, Peanut Butter Bananza, Dirt 'n Worms, Cold Brew Caramel Crunch, Lemon Cream Frost, Orange Cream Frost, and Dr Pepper Frost, also offered in pints and quarts for take-home.
• Sandwiches & More Savory, cooked-to-order sandwiches and favorites sold individually outside of a combo, including the full range of steakburgers (Freddy's Original Double, Original Double with Bacon, Patty Melt, Prime Rib Steakburger, Grilled Cheese Steakburger, Jalapeño Pepper Jack Double, California Style Double), chicken sandwiches (Spicy Chicken Sandwich, Crispy Chicken Club Sandwich, Grilled Chicken Club Sandwich), all-beef hot dogs, Veggie Burger, Steakburger Taco, and 3-piece and 5-piece chicken tenders.
• Bowls Lower-carb, lower-calorie bowl meals with four options—Steakburger Bowl (approximately 55 grams of protein), Crispy Chicken Bowl, Grilled Chicken Bowl, and Veggie Burger Bowl—each featuring crispy romaine lettuce, diced tomatoes, onions, and cheese alongside the protein choice, with dressing available for addition.
• Savory Sides Sides including Freddy's crispy shoestring fries seasoned with Freddy's Famous Steakburger & Fry Seasoning, plus Freddy's Kettle Chips, tater tots, Cheese Curds (white cheddar), Onion Rings, Cheese Fries, Chili Cheese Fries, and Mott's Natural Applesauce.
• Freddy's Bevies Premium beverage lineup featuring five custard cream sodas (Golden Hour Orange, Peach Peach Baby, Coco Loco, Blue Rizzberry, Mango Magic) topped with vanilla custard cream, three tea flavors (Peachy Keen Tea, Strawberry Sunset Tea, Mango Sunrise Tea), and three lemonade flavors (Peachy Keen Lemonade, Strawberry Sunset Lemonade, Mango Sunrise Lemonade).
• Beverages Assorted fountain and packaged beverages including Pepsi, Diet Pepsi, Dr Pepper, Diet Dr Pepper, Mountain Dew, MUG Root Beer, Mist Twist, Tropicana Lemonade and Pink Lemonade, Lipton Brisk teas, Luzianne Iced Tea, Sobe Lifewater, plus Milk, Chocolate Milk, and Apple Juice.
• Kids Meals Portioned meals designed for children, each including a choice of main item, side, and drink, with options including Kid's Steakburger Combo, Kid's Hot Dog Combo, and Kid's Tender Combo.
• Senior Meals (55+) Value-driven bundled meals for guests aged 55 and older, with options including Senior Cheeseburger Meal, Senior Hot Dog Meal, Senior Crispy Chicken Sandwich Meal, and Senior Grilled Chicken Sandwich Meal, each pairing the main item with a small drink and small fries or tots and upgradeable to full-size premium sides.
• By-the-Bottle Sauces & Seasoning Full-size bottles of Freddy's signature sauces and seasonings available for purchase for at-home use, including Freddy's Famous Fry Sauce, Freddy's Famous Jalapeño Fry Sauce, and Freddy's Famous Steakburger & Fry Seasoning, available online through the Freddy's merch store and at restaurant locations.
• Catering Catering service for events and groups offering customizable food stations including a Sundae Bar, Burger Bar, and Hot Dog Bar, plus bagged lunch options for school and sports events. Orders require advance notice ranging from 2 hours (under $500) to 68 hours (over $1,500), and Freddy's Rewards points can be earned on catering orders.
• Freddy's Rewards Loyalty Program Free loyalty program enabling members to earn 10 points per dollar spent on pre-tax purchases, redeemable for free rewards including select sides, frozen custard treats, and steakburgers. Members receive birthday rewards, exclusive promotions, and early access to limited-time offers, with program integration through the Freddy's mobile app and website.
• Freddy's Mobile App Mobile application available on iOS and Android platforms enabling mobile ordering, Freddy's Rewards account management, Scan to Pay functionality (earning points, redeeming rewards, and paying via saved credit card in a single scan), order customization, location finding, and exclusive promotional offers, with points earned on up to 3 orders per calendar day.
• Gift Cards Freddy's gift cards redeemable at any location nationwide, available for purchase online through the Freddy's merch store and via a stored value platform, offered as both physical and digital gift cards with online balance check.
• Summer Custard Tour Seasonal menu event featuring 13 consecutive weeks of rotating Custard of the Week flavors from June through August, with each week spotlighting a unique frozen custard creation such as Rocky Road Sundae, Bananas Foster Shake, Cookie Dough Overload Concrete, Latte Shake made with OREO, Red White & Blueberry Concrete, PBJ Shake made with REESE'S, Cherry Cheesecake Concrete, Peanut Butter Cookie Crunch Concrete, Chocolate Covered Strawberry Cheesecake Concrete, Root Beer Float, Toffee Pecan Concrete made with Heath, Peanut Butter Brownie Concrete made with Butterfinger, and Banana Split Sundae.
• Hot Honey Limited-Time Menu Limited-time menu partnership with Mike's Hot Honey launching Hot Honey Chicken Sandwich, Hot Honey Chicken Tenders, Cheese Curds with Hot Honey Cup, and Molten Chocolate Cake Shake, available at participating locations nationwide across 36 states.
• Deluxe Crispy Fish Sandwich Limited-time seasonal sandwich featuring a four-ounce piece of battered Alaska flounder with tartar sauce, lettuce, pickles, and melted American cheese on a toasted bun.
• Dr Pepper Frost Returning limited-time frozen custard offering a Dr Pepper-flavored frost, available via dine-in, drive-thru, and delivery at participating Freddy's locations nationwide.

Quantifiable outcome

• Freddy's ranked #8 among 10 fastest-growing restaurant chains in the U.S.
• +4 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered minor and core.

• Ten Collegiate Athletes (NIL Partnership)minorGTM or Marketing Partner · 16 March 2026Name, Image, and Likeness (NIL) partnership awarding deals to ten collegiate athletes from universities in Arizona, North Carolina, Tennessee, and Texas. Athletes promote restaurant's menu favorites on social media and brand website.
• JRI HospitalitycoreChannel Partner/ Reseller/ Distributor · 3 March 2026Kansas-based JRI Hospitality acquired restaurant operations of HCI Hospitality, including 43 Freddy's locations across the Midwest. Following the deal, JRI's Freddy's portfolio expanded to over 130 locations across 18 states, making it one of the chain's largest franchisees.
• Mike's Hot HoneyminorStrategic or Co-development Partner · 2 March 2026Product partnership launching Hot Honey Chicken Sandwich, Hot Honey Chicken Tenders, Cheese Curds with Hot Honey Cup, and Molten Chocolate Cake Shake available March 4 through May 5, 2026 at participating locations across 36 states.
• North 49 Frozen Custard & SteakburgerscoreChannel Partner/ Reseller/ Distributor · 1 June 2025Master franchisee for Canadian market expansion following June 2025 market entry. Freddy's has existing Canadian footprint in Winnipeg, Manitoba and Okotoks, Alberta with expansion planned for Ontario and British Columbia targeting Toronto, Ottawa, Vancouver, and Victoria.

Scale indicators10 records

Recent moves8 records

Expansion highlights7 records

Direct peers

• In-N-Out Burger: West Coast private burger chain explicitly identified by Freddy's as the Northern California expansion target; comparable cook-to-order simplicity and cult regional loyalty, though operating with company-owned stores only.
• Shake Shack: Public burger fast-casual competitor operating in higher-density urban and premium markets; same premium-ingredient positioning and broad demographic appeal as Freddy's, useful as a comp for category economics.
• Five Guys: National fast-casual burger chain competing in the same price point and premium-ingredient positioning as Freddy's, with comparable cook-to-order model and AUVs above $1.7M.
• Steak 'n Shake: Midwest heritage fast-casual chain built on steakburgers and milkshakes, providing a near-direct analog to Freddy's menu and pricing architecture, though currently undergoing significant operational and franchisee restructuring.
• Culver's: Midwest-origin fast-casual chain famous for ButterBurgers and fresh frozen custard — the closest direct comparison to Freddy's dual-concept steakburger-plus-custard positioning, similar AUV profile, and franchise-led growth model.
• Whataburger: Regional burger chain with strong brand affinity in the South and Southwest, recently expanding into new markets under private ownership (BDT Capital); comparable cook-to-order model and franchise-driven unit growth.
• Smashburger: Multi-national smash-style burger fast-casual chain operating at similar price points and unit economics; useful comp for category economics and franchisee dynamics, currently going through ownership transitions.
• The Habit Burger Grill: California-based charburger fast-casual chain now owned by Yum! Brands; comparable cook-to-order burger positioning and franchise model, useful as a benchmark for Freddy's Pacific Coast growth ambitions.

Broad incumbents

• Dairy Queen (DQ Grill & Chill): Mass-market QSR incumbent with a dual-concept menu pairing burgers/hot dogs with soft-serve and Blizzard treats; closest analog to Freddy's burger-plus-frozen-custard identity at a far larger system scale.
• Wendy's: National burger QSR chain and longtime category incumbent competing for the same value-conscious fast-casual customer; provides scale benchmarking and menu/price-anchoring context for Freddy's.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/freddysusa
• Facebookfacebook.com/FreddysUSA
• Instagraminstagram.com/freddysusa
• TikToktiktok.com/@freddysusa
• Xx.com/freddysusa

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

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 Freddy’s Frozen Custard & Steakburgers