--- title: "Impact of the Pandemic on the Mega 99 Rankings" url: https://burnaze.com/article/8b89bb64-70d0-4003-b54b-fdaa56e05165 source: "Franchising.com" original_url: https://www.franchising.com/articles/impact_of_the_pandemic_on_the_mega_99_rankings.html author: "Ritwik Donde" category: "Franchise Industry" industry: "Franchise Industry" topics: ["Regulation & legal"] published: 2021-02-15T07:00:00.000Z modified: 2026-11-01T02:29:00.013Z image: https://imgs.franchising.com/art/articles/5774_plate.jpg --- # Impact of the Pandemic on the Mega 99 Rankings **TL;DR:** The pandemic has had a significant impact on the Mega 99 Rankings, with bankruptcies, financial protection filings, and leadership consolidation affecting the rankings. Frandata has been running the Mega 99 list for Franchise Update for more than 10 years and has seen many nationwide and worldwide events, most of which are being eclipsed by the current pandemic in terms of the significant rise in franchise activity. *By Ritwik Donde, originally published in Franchising.com on 2021-02-15. [Read the original](https://www.franchising.com/articles/impact_of_the_pandemic_on_the_mega_99_rankings.html).* ## Key facts - Frandata ranks franchisees by locations - Private equity firms signed large deals - Franchisees diversified during pandemic ## Story ## Pandemic impact Frandata has been running the Mega 99 list for Franchise Update for more than 10 years. Needless to say, we’ve seen many nationwide and worldwide events, most of which are being eclipsed by the current pandemic in terms of the significant rise in franchise activity. The following four factors are among those that have affected this year’s Mega 99 Rankings. **Bankruptcies and financial protection filings.** These filings were initiated by large QSR franchise organizations like SD Holdings and NPC International. While this has resulted in a change in ownership patterns, it is important to note that many franchised businesses/locations continue to operate, but under different ownership. **Leadership consolidation.** The pandemic also has allowed several large franchisee organizations to consolidate their leadership through acquisitions and resales. Franchisees in certain sectors such as QSR have been quick to take advantage of lower valuations to grow their existing portfolios. For example, Tasty Restaurant Group, a wholly owned affiliate of private equity firm Triton Pacific, acquired 37 Pizza Hut locations, while Sun Holdings, one of the largest franchisee organizations in the U.S., acquired 41 IHOP locations from bankrupt CFRA Holdings for its ever-expanding portfolio. ## Franchisee trends **Franchisee diversification.** Another growing trend affecting this year’s Mega 99 Rankings is related to franchisees’ diversification strategies, which took advantage of franchisors’ fee incentives and discounts during the pandemic. For example, several franchisees in the fitness and gym sector diversified into other beauty-related options that showed greater business resistance to pandemic-related closures and shelter-at-home orders. **Increased PE activity.** The pandemic also saw emerging brands attracting private equity firms and getting them to sign large multi-unit deals in 2020. For example, Chunara Group of Companies, a private equity group based in Atlanta (which already owned franchises including Dunkin’, Checkers, Church’s Chicken, and Popeyes), signed a 9-unit development deal with My Eyelab. PE and asset management firms also signed large deals with Everbowl (20 units) and Coolgreens (50 units). Interestingly, PE and investment firms signed large deals with established brands that were quick to adapt their business model to the changes pushed forth by the pandemic. These include the 49-unit deal signed by Papa John’s with HB Restaurant Group, and the 50-unit development deal signed by Freddy’s Frozen Custard & Steakburgers with R Solution Holdings. RANK COMPANY UNITS BRANDS 1 FLYNN RESTAURANT GROUP 1,239 APPLEBEE’S, ARBY’S, PANERA BREAD, TACO BELL 2 CARROLS GROUP 1,085 BURGER KING, POPEYES LOUISIANA KITCHEN 3 SUN HOLDINGS 1,045 BURGER KING, POPEYES LOUISIANA KITCHEN, ARBY’S, GNC, CICIS, GOLDEN CORRAL, KRISPY KREME, T-MOBILE, TACO BUENO, AIRPORT RESTAURANTS, IHOP 4 TARGET 900 PIZZA HUT 5 KBP FOODS 895 KFC, TACO BELL 6 DHANANI GROUP 824 BURGER KING, POPEYES LOUISIANA KITCHEN, LA MADELEINE FRENCH BAKERY & CAFÉ 7 PILOT TRAVEL CENTERS 790 SUBWAY, CINNABON, DUNKIN’, WENDY’S, ARBY’S, TACO BELL, DQ TREAT, PIZZA HUT, MOE’S SOUTHWEST GRILL, KFC, HOT STUFF PIZZA, IHOP, CARVEL, AUNTIE ANNE’S, BURGER KING, DENNY’S, CHESTER’S, MCDONALD’S 8 MUY BRANDS 768 PIZZA HUT, WENDY’S, TACO BELL 9 ARAMARK 637 CHICK-FIL-A, EINSTEIN BROS. BAGELS, SUBWAY, PANDA EXPRESS, OATH PIZZA, WHICH WICH, PAPA JOHN’S, MOE’S SOUTHWEST GRILL, PIZZA HUT, DUNKIN’, STEAK ’N SHAKE, FRESHII, JAMBA, QDOBA MEXICAN EATS, TACO BELL, RAISING CANE’S, CHILI’S, TIM HORTONS, MOOYAH, QUAKER STEAK & LUBE, ERBERT & GERBERT’S SANDWICH SHOP, QUIZNOS, WENDY’S, MCALISTER’S DELI, PJ’S COFFEE OF NEW ORLEANS, CARIBOU COFFEE, KFC, BURGERFI, COSI, DUNN BROTHERS COFFEE, PANERA BREAD, VILLAGE JUICE CO., BEEF ’O’ BRADY’S, PINKBERRY, WAHOO’S FISH TACO, NATHAN’S FAMOUS, FIREHOUSE SUBS, EXTREME PITA, IHOP, LA MADELEINE FRENCH BAKERY & CAFÉ, DENNY’S 10 LOVE’S TRAVEL STOPS & COUNTRY STORES 534 SUBWAY, GODFATHER’S PIZZA, CHESTER’S, HARDEE’S, TACO JOHN’S, IHOP, DUNKIN’, ARBY’S, DQ TREAT 10 ARMY & AIR FORCE EXCHANGE SERVICES 534 SUBWAY, BURGER KING, CHARLEYS PHILLY STEAKS, POPEYES LOUISIANA KITCHEN, TACO BELL, ARBY’S, EINSTEIN BROS. BAGELS, QDOBA MEXICAN EATS, MANCHU WOK, DUNKIN’, WING ZONE, BASKIN-ROBBINS, BLIMPIE, PIZZA HUT, TACO JOHN’S, SLIM CHICKENS 12 TEAM CAR CARE (HEARTLAND AUTOMOTIVE SERVICE) 517 JIFFY LUBE 13 GPS HOSPITALITY 480 BURGER KING, POPEYES LOUISIANA KITCHEN, PIZZA HUT 14 SPEEDWAY 477 DUNKIN’, SUBWAY, WENDY’S 15 SUMMIT RESTAURANT GROUP 390 IHOP, APPLEBEE’S 16 AMPEX BRANDS 382 KFC, PIZZA HUT, LONG JOHN SILVER’S, TACO BELL, A&W 17 HARMAN MANAGEMENT 374 KFC, A&W, LONG JOHN SILVER’S 18 SIZZLING PLATTER 368 LITTLE CAESARS, WING STOP, DUNKIN’, SIZZLER, RED ROBIN 18 JIB MANAGEMENT (YADAV ENTERPRISES) 368 JACK IN THE BOX, DENNY’S, TGI FRIDAYS, EL POLLO LOCO, CORNER BAKERY CAFE, SIZZLER 20 ROTTINGHAUS 367 SUBWAY 21 BODDIE-NOELL ENTERPRISES 342 HARDEE’S 22 MERITAGE HOSPITALITY GROUP 340 WENDY’S 22 CHARTER FOODS 340 TACO BELL, LONG JOHN SILVER’S, KFC, A&W, PIZZA HUT 24 COMPASS GROUP USA 323 EINSTEIN BROS. BAGELS, SUBWAY, BLIMPIE, DUNKIN’, PAPA JOHN’S, PANDA EXPRESS, PIZZA HUT, MOE’S SOUTHWEST GRILL, JAMBA, SALSARITA’S FRESH MEXICAN GRILL, STEAK ’N SHAKE, TACO BELL, SMASHBURGER, WENDY’S, PJ’S COFFEE OF NEW ORLEANS, CARIBOU COFFEE, TIM HORTONS, CHILI’S, QUIZNOS, WHICH WICH, FIREHOUSE SUBS, FREDDY’S FROZEN CUSTARD & STEAKBURGERS, MARCO’S PIZZA, SBARRO, FRESHII, ERBERT & GERBERT’S SANDWICH SHOP, BASKIN-ROBBINS, ILLY, JOHNNY ROCKETS, PLANET SMOOTHIE, POPEYES LOUISIANA KITCHEN, BEN & JERRY’S, PITA PIT, QDOBA MEXICAN EATS, BURGER KING, KFC, IHOP, SLIM CHICKENS, JASON’S DELI, NATHAN’S FAMOUS, CALIFORNIA TORTILLA, DENNY’S, BOJANGLES’ 24 SODEXO 323 CHICK-FIL-A, EINSTEIN BROS. BAGELS, SUBWAY, PIZZA HUT, DUNKIN’, JAMBA, MOE’S SOUTHWEST GRILL, TACO BELL, QDOBA MEXICAN EATS, STEAK ’N SHAKE, PAPA JOHN’S, ERBERT & GERBERT’S SANDWICH SHOP, GARBANZO MEDITERRANEAN FRESH, BAJA FRESH, THE HABIT BURGER GRILL, BURGER KING, HOT STUFF PIZZA, MCALISTER’S DELI, CARIBOU COFFEE, BASKIN-ROBBINS, GODFATHER’S PIZZA, COSÌ, QUIZNOS, SBARRO, PANERA BREAD, BLAZE PIZZA, DQ TREAT, TIM HORTONS, MOOYAH, DENNY’S 26 WKS RESTAURANT GROUP 322 EL POLLO LOCO, WENDY’S, KRISPY KREME, DENNY’S, BLAZE PIZZA 27 TACALA/BOOM FOODS 319 TACO BELL, KFC 28 THE COVELLI FAMILY LIMITED PARTNERSHIP 316 PANERA BREAD, DQ GRILL & CHILL, DQ TREAT, O’CHARLEY’S 29 PACIFIC BELLS 307 TACO BELL, KFC, BUFFALO WILD WINGS 30 K-MAC ENTERPRISES 306 TACO BELL, KFC, GOLDEN CORRAL 31 DESERT DE ORO FOODS 297 TACO BELL, PIZZA HUT 32 G&M OIL CO. 296 CHEVRON, EXTRAMILE, TEXACO 33 SOUTHERN CALIFORNIA PIZZA 292 PIZZA HUT 33 AMERICAN WEST RESTAURANT GROUP 292 PIZZA HUT 35 MASON-HARRISON-RATLIFF ENTERPRISES 277 SONIC DRIVE-IN 36 HAZA FOODS 276 WENDY’S, TACO BELL 37 MANNA 267 WENDY’S, GOLDEN CORRAL, FAZOLI’S 38 TA OPERATING 265 POPEYES LOUISIANA KITCHEN, TACO BELL, SUBWAY, BURGER KING, PIZZA HUT, DUNKIN’, ARBY’S, FUDDRUCKERS, CHARLEYS PHILLY STEAKS, FAZOLI’S, A&W, WENDY’S, BLACK BEAR DINER, KFC, CARL’S JR., TACOTIME, HOT STUFF PIZZA, IHOP, BASKIN-ROBBINS, SUPER 8 BY WYNDHAM, NOBLE ROMAN’S 39 WENDPARTNERS FRANCHISE GROUP 257 WENDY’S 40 CIRCLE K STORES 253 SUBWAY, BLIMPIE, HOT STUFF PIZZA, CHURCH’S CHICKEN, HARDEE’S, DQ TREAT, DQ GRILL & CHILL, NOBLE ROMAN’S, HUDDLE HOUSE, CHEVRON, TEXACO 41 MITRA QSR 248 KFC, TACO BELL 42 HART RESTAURANT MANAGEMENT 244 WENDY’S 43 FUGATE ENTERPRISES 243 PIZZA HUT, TACO BELL 44 JAE RESTAURANT GROUP 239 WENDY’S 45 HMSHOST 237 BURGER KING, SBARRO, POPEYES LOUISIANA KITCHEN, QUIZNOS, CHILI’S, ROY ROGERS, CHICK-FIL-A, NATHAN’S FAMOUS, SMASHBURGER, GREAT STEAK, PANDA EXPRESS, KFC, MANCHU WOK, FIREHOUSE SUBS, LA MADELEINE FRENCH BAKERY & CAFÉ, JOHNNY ROCKETS, STEAK ’N SHAKE, PINKBERRY, CARL’S JR., BURGERFI, BLAZE PIZZA, BURGER 21, YEUNG’S LOTUS EXPRESS, KELLY’S CAJUN GRILL, BLIMPIE, THE COUNTER, COLD STONE CREAMERY, PACIUGO GELATO & CAFFÉ, UNA MAS MEXICAN GRILL, A&W, BAJA FRESH, COUSINS SUBS, WING STOP 46 APPLE HOSPITALITY REIT 235 HILTON GARDEN INN, COURTYARD BY MARRIOTT, HAMPTON INN BY HILTON, HOMEWOOD SUITES BY HILTON, RESIDENCE INN BY MARRIOTT, SPRINGHILL SUITES BY MARRIOTT, FAIRFIELD BY MARRIOTT, TOWNEPLACE SUITES BY MARRIOTT, HOME2 SUITES BY HILTON, EMBASSY SUITES BY HILTON, MARRIOTT HOTELS 47 ADF COMPANIES 233 PIZZA HUT, PANERA BREAD 48 PALO ALTO/ALVARADO CONCEPTS 232 TACO BELL, KFC 49 D. L. ROGERS 231 SONIC DRIVE-IN 50 DIVERSIFIED RESTAURANT GROUP 230 TACO BELL, ARBY’S 51 QUALITY DINING 228 BURGER KING, CHILI’S 52 FOURTEEN FOODS 227 DQ GRILL & CHILL, DQ TREAT 53 MARLU INVESTMENT GROUP 224 ARBY’S, LITTLE CAESARS, CHURCH’S CHICKEN, JACK IN THE BOX 54 PREMIER KINGS 220 BURGER KING, POPEYES LOUISIANA KITCHEN 55 QUALITY HUTS MIDWEST 219 PIZZA HUT, ARBY’S 56 TASTY RESTAURANT GROUP (TASTY HUTS) 216 PIZZA HUT, BURGER KING 57 BORDER FOODS 204 TACO BELL, CHURCH’S CHICKEN 57 EYM GROUP 204 PIZZA HUT, BURGER KING 59 HENLEY ENTERPRISES 200 VALVOLINE INSTANT OIL CHANGE 60 COTTI FOODS 196 WENDY’S, TACO BELL, PIEOLOGY PIZZERIA 61 WENDY’S OF COLORADO SPRINGS 189 WENDY’S, GOLDEN CORRAL 62 FEAST ENTERPRISES (DMSD FOODS/BESHAY FOODS) 185 JACK IN THE BOX, DENNY’S, CORNER BAKERY CAFE 63 FRESH ALTERNATIVES 181 SUBWAY 64 RPM PIZZA 176 DOMINO’S PIZZA 65 MARWAHA GROUP 175 SUBWAY 65 TEAM LYDERS (SUNDANCE & OLD WEST PROPERTIES) 175 TACO BELL, KFC, PIZZA HUT, ARBY’S 67 HAMRA ENTERPRISES 170 WENDY’S, PANERA BREAD, NOODLES & COMPANY, HOLIDAY INN 68 CAVE ENTERPRISES OPERATIONS 169 BURGER KING 69 BRIAD RESTAURANT GROUP 168 WENDY’S, TGI FRIDAYS 70 NORTHWEST RESTAURANTS 165 TACO BELL, KFC, A&W, PIZZA HUT 71 PJ UNITED 162 PAPA JOHN’S 72 JRN 160 KFC, PIZZA HUT 73 PACPIZZA 155 PIZZA HUT 74 B & G FOOD ENTERPRISES 154 TACO BELL, KFC 75 BURGERBUSTERS 153 TACO BELL, PIZZA HUT, KFC, LONG JOHN SILVER’S 75 CARLISLE CORP 153 WENDY’S 77 VKC GROUP 150 SUBWAY, GREAT AMERICAN COOKIES, PRETZELMAKER, TCBY, TWISTERS BURGERS & BURRITOS 78 CELEBRATION RESTAURANT GROUP/CFL PIZZA/BRAVO FOODS 149 PIZZA HUT, TACO BELL, KFC 79 GRAND MERE CAPITAL 148 PIZZA HUT 79 GHAI MANAGEMENT SERVICES 148 BURGER KING, TACO BELL 81 METRO FRANCHISING COMMISSARY 145 DUNKIN’, BASKIN-ROBBINS, NATHAN’S FAMOUS 81 STARCORP 145 HARDEE’S, CARL’S JR. 83 CALIFORNIA FOOD MANAGEMENT 142 BURGER KING 83 WING FINANCIAL SERVICES 142 JACKSON HEWITT TAX SERVICE 83 BOBBY MERRITT 142 SONIC DRIVE-IN 83 HALLRICH 142 PIZZA HUT 87 WESTLAKE ACE HARDWARE (JOSEPH JEFFRIES) 140 ACE HARDWARE 88 DOHERTY ENTERPRISES 139 APPLEBEE’S, PANERA BREAD 88 INTERFOODS OF AMERICA (SAILORMEN) 139 POPEYES LOUISIANA KITCHEN, BURGER KING 90 TOMS KING 136 BURGER KING 90 BAJCO 136 PAPA JOHN’S, DAIRY QUEEN 92 SUMMIT RESTAURANT GROUP 135 PIZZA HUT, LONG JOHN SILVER’S 92 RESTAURANT MANAGEMENT CO. 135 PIZZA HUT, KFC 94 MANNA DEVELOPMENT GROUP 134 PANERA BREAD 94 MERIDIAN RESTAURANTS 134 BURGER KING, CHILI’S 96 REDBERRY RESTAURANTS 133 BURGER KING, PIZZA HUT 97 RMH FRANCHISE 132 APPLEBEE’S 98 AMERICAN PIZZA PARTNERS 131 PIZZA HUT 99 A3H FOODS 123 JACK IN THE BOX ***Ritwik Donde** is a senior research consultant at Frandata, an independent research and advisory company providing insight and analysis for the franchising sector since 1989.* ***About:** The Mega 99 Rankings are a list of the largest franchisees/franchisee organizations in the U.S. based on their collective ownership of franchised businesses. Over the current year, FRANdata has used its institutional knowledge along with information gained directly from franchisees to rank franchisees in terms of the franchised businesses/locations they own.* ***Methodology:** FRANdata has the most comprehensive franchisee database available. FRANdata’s database tracks close to 420,000 franchised business locations in 230 subsectors representing more than 240,000 franchisees. Using this information, complemented by the most extensively verified consumer database in the U.S. ## Entities - Franchising.com (publication) - Franchise Industry (sector) - private equity (topic) - FRANdata (company) - pandemic impact (topic) - Sun Holdings (company) - NPC International (company) - Ritwik Donde (person) - bankruptcies (topic) - leadership consolidation (topic) - franchisee trends (topic) --- Originally reported by Ritwik Donde, Franchising.com (https://www.franchising.com/articles/impact_of_the_pandemic_on_the_mega_99_rankings.html). Summarized by Burnaze (https://burnaze.com/article/8b89bb64-70d0-4003-b54b-fdaa56e05165).