Franchise Failure Rates

SBA 7(a) loan outcomes · FY2010–FY2019 cohort · Statuses as of June 30, 2026 · Last updated August 17, 2026

Firehouse Subs Franchise Failure Rate: 8.3% SBA Loan Defaults (2010–2019 Federal Data)

8.3%
charge-off rate on 361 SBA 7(a) loans to Firehouse Subs franchisees, FY2010–2019
Charge-off rate, SBA 7(a) loans approved FY2010–FY2019 — Firehouse Subs against its industry and all franchises
Charge-off rate, SBA 7(a) loans approved FY2010–FY2019: Firehouse Subs 8.3%; Limited-Service Restaurants 10.3%; All franchises 10.2%Firehouse Subs 8.3%; Limited-Service Restaurants 10.3%; All franchises 10.2%0%2%4%6%8%10%Firehouse Subs8.3%Limited-ServiceRestaurants10.3%All franchises10.2%
Charge-off rate, SBA 7(a) loans approved FY2010–FY2019: Firehouse Subs 8.3%; Limited-Service Restaurants 10.3%; All franchises 10.2%Firehouse Subs 8.3%; Limited-Service Restaurants 10.3%; All franchises 10.2%0%2%4%6%8%10%Firehouse Subs8.3%Limited-Service Restaurants10.3%All franchises10.2%

Source: U.S. SBA FOIA dataset, statuses as of June 30, 2026. Figures also in the comparison table below.

About 1 in 12 Firehouse Subs SBA borrowers failed to repay — below the Limited-Service Restaurants average of 10.3%.

Between 2010 and 2019, 361 Firehouse Subs franchisees financed with SBA 7(a) loans. 30 defaulted — a 8.3% charge-off rate, 0.8x the Limited-Service Restaurants average of 10.3%. Source: U.S. Small Business Administration FOIA dataset, loan statuses as of June 30, 2026.

What is the Firehouse Subs franchise failure rate on SBA loans?

Firehouse Subs is a Limited-Service Restaurants franchise. This page reports the outcome of every SBA 7(a) loan the U.S. Small Business Administration's public FOIA file attributes to Firehouse Subs franchisees: 361 loans approved between fiscal 2010 and 2019, of which 30 were charged off. Loan statuses are as of June 30, 2026, and the cohort has matured, so these are settled outcomes rather than projections.

How does Firehouse Subs compare with other Limited-Service Restaurants franchises?

The table sets Firehouse Subs's charge-off rate beside its Limited-Service Restaurants peers and the two economy-wide benchmarks. All figures use the same cohort — SBA 7(a) loans approved FY2010–FY2019, statuses as of June 30, 2026 — and the same denominator of resolved loans, so they are directly comparable.

Firehouse Subs versus benchmarks, SBA 7(a) loans approved FY2010–FY2019, statuses as of June 30, 2026. Source: U.S. SBA FOIA dataset.
MeasureFirehouse SubsLimited-Service RestaurantsAll franchisesAll SBA borrowers
Default (charge-off) rate8.3%10.3%10.2%8.0%
Loans in sample361———
Defaults30———
Average loan size$258,338———

What has Firehouse Subs SBA lending looked like since 2020?

Since 2020, Firehouse Subs franchisees have taken 166 new SBA 7(a) loans. 4 have already charged off. Early defaults on loans under six years old are notable — most SBA failures take longer to develop.

Charge-off rate by approval year — share of each fiscal year's Firehouse Subs SBA 7(a) loans that later defaulted (FY2010–FY2019)
Charge-off rate by approval year: FY2010 6% of 17 loans; FY2011 4% of 25 loans; FY2012 12% of 34 loans; FY2013 9% of 57 loans; FY2014 7% of 44 loans; FY2015 5% of 61 loans; FY2016 6% of 48 loans; FY2017 12% of 25 loans; FY2018 13% of 30 loans; FY2019 15% of 20 loansCharge-off rate by approval year: FY2010 6% of 17 loans; FY2011 4% of 25 loans; FY2012 12% of 34 loans; FY2013 9% of 57 loans; FY2014 7% of 44 loans; FY2015 5% of 61 loans; FY2016 6% of 48 loans; FY2017 12% of 25 loans; FY2018 13% of 30 loans; FY2019 15% of 20 loans0%8%15%6%2010n=174%2011n=2512%2012n=349%2013n=577%2014n=445%2015n=616%2016n=4812%2017n=2513%2018n=3015%2019n=20
Charge-off rate by approval year: FY2010 6% of 17 loans; FY2011 4% of 25 loans; FY2012 12% of 34 loans; FY2013 9% of 57 loans; FY2014 7% of 44 loans; FY2015 5% of 61 loans; FY2016 6% of 48 loans; FY2017 12% of 25 loans; FY2018 13% of 30 loans; FY2019 15% of 20 loansCharge-off rate by approval year: FY2010 6% of 17 loans; FY2011 4% of 25 loans; FY2012 12% of 34 loans; FY2013 9% of 57 loans; FY2014 7% of 44 loans; FY2015 5% of 61 loans; FY2016 6% of 48 loans; FY2017 12% of 25 loans; FY2018 13% of 30 loans; FY2019 15% of 20 loans0%8%15%6%’10n=174%’11n=2512%’12n=349%’13n=577%’14n=445%’15n=616%’16n=4812%’17n=2513%’18n=3015%’19n=20

Loans approved since 2020, by fiscal year — counts only: 4 have charged off to date and most are still outstanding, so no rate is drawn.

Loans approved since 2020: FY2020 27; FY2021 44; FY2022 29; FY2023 20; FY2024 15; FY2025 17; FY2026 14Loans approved since 2020: FY2020 27; FY2021 44; FY2022 29; FY2023 20; FY2024 15; FY2025 17; FY2026 14272020442021292022202023152024172025142026
Loans approved since 2020: FY2020 27; FY2021 44; FY2022 29; FY2023 20; FY2024 15; FY2025 17; FY2026 14Loans approved since 2020: FY2020 27; FY2021 44; FY2022 29; FY2023 20; FY2024 15; FY2025 17; FY2026 1427’2044’2129’2220’2315’2417’2514’26

Source: U.S. SBA FOIA dataset, statuses as of June 30, 2026.

Show the numbers behind this chart
Fiscal yearLoansCharged offRate
FY20101715.9%
FY20112514.0%
FY201234411.8%
FY20135758.8%
FY20144436.8%
FY20156134.9%
FY20164836.2%
FY201725312.0%
FY201830413.3%
FY201920315.0%
FY202027—outstanding
FY202144—outstanding
FY202229—outstanding
FY202320—outstanding
FY202415—outstanding
FY202517—outstanding
FY202614—outstanding

How to read this

A charge-off means a franchisee borrowed, operated, and failed severely enough that the SBA wrote off the government-guaranteed loan. Unlike franchisor marketing or Item 19 disclosures, this is an observed outcome recorded by a federal agency. One caveat cuts the other way: SBA borrowers are typically less capitalized than all-cash buyers, so these rates can overstate risk for well-funded operators.

How reliable is this number?

Firehouse Subs's figure rests on 361 resolved SBA 7(a) loans approved between fiscal 2010 and 2019 — a matured cohort, so the rate is a settled outcome, not a projection. With 361 resolved loans, the sample is large enough that a single default barely moves the figure. Loans approved since 2020 are excluded from the rate because most are still outstanding; they appear on this page as counts only. Every Firehouse Subs figure is recomputed from the public SBA FOIA file on each rebuild.

Frequently asked

What is Firehouse Subs's franchise failure rate on SBA loans?
Between 2010 and 2019, 361 Firehouse Subs franchisees financed with SBA 7(a) loans. 30 defaulted — a 8.3% charge-off rate, 0.8x the Limited-Service Restaurants average of 10.3%. Source: U.S. Small Business Administration FOIA dataset, loan statuses as of June 30, 2026.
Is Firehouse Subs a safe franchise investment?
Between 2010–2019, Firehouse Subs franchisees defaulted on SBA loans at 8.3% versus a 10.3% industry average. This data is one input for due diligence; it is not investment advice.

Cite this page

Franchise Default Rates (2026). Firehouse Subs franchise SBA 7(a) default rate, FY2010–FY2019 cohort: 8.3% (30 of 361 loans charged off). Derived from U.S. SBA FOIA data, loan statuses as of June 30, 2026.

https://franchisefailurerates.com/franchise/firehouse-subs/ · Data & methodology · Download the dataset (CSV)