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Built with precision for the QSR industry

The Database/FAST CASUAL

Panda Express

EST. 1983 · Rosemead, California

+ CompareFDD notes
US UNITS2,376+7.1% YOY
GLOBAL UNITS2,400
AUV (US)$2.5M
INVESTMENT RANGE$465K–$1.2M
FRANCHISED %2%

01The Read

American Chinese fast-food chain

FIG 1 — US UNIT COUNT, 2019–2025
1,878
2019
1,929
2020
1,994
2021
2,045
2022
2,148
2023
2,218
2024
2,376
2025

SOURCE: QSR PRO ESTIMATES

02Our Coverage

6 STORIES
Panda Express vs Wingstop: Two Models, One QuestionMAR 20, 2026QSR in Airports and Stadiums: The Captive Audience PremiumMAR 20, 2026QSR Real Estate Strategy: End Caps, Drive-Thrus, and the Land GrabMAR 20, 2026How Wingstop's Asset-Light Model Created the Highest Franchisee Returns in QSRMAR 20, 2026The Ultimate QSR Franchise Comparison Chart: 50 Chains Side by SideMAR 19, 2026The History of QSR: From White Castle to DoorDashMAR 19, 2026
FDD Fact Sheet · 2025
FRANCHISE FEE
—
ROYALTY
5%
AD FUND
—
TERM
10 YRS
LIQUIDITY
—
NET WORTH
—

NOT CURRENTLY FRANCHISING

Segment Peers

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QSR Pro Advisory

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