First Watch Restaurant Group, Inc.
For the period ended Dec 28, 2025. Filed Feb 24, 2026.
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FY2025 · Filed Feb 24, 2026
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Item 2. Properties
We lease all our company-owned restaurant locations and our corporate headquarters. As of December 28, 2025, we had 560 company-owned restaurants and 73 franchise-owned restaurants located in 32 states, including a large presence in Florida, Texas, Ohio, North Carolina and Arizona. As of December 28, 2025, company-owned and franchise-owned restaurants by juris diction were:
| State | Company-owned | Franchise-owned | Total |
|---|---|---|---|
| Alabama | 9 | — | 9 |
| Arizona | 35 | — | 35 |
| Arkansas | — | 3 | 3 |
| Colorado | 19 | — | 19 |
| Delaware | 6 | — | 6 |
| Florida | 141 | — | 141 |
| Georgia | 25 | — | 25 |
| Idaho | — | 2 | 2 |
| Illinois | 11 | — | 11 |
| Indiana | 8 | 1 | 9 |
| Kansas | 12 | — | 12 |
| Kentucky | 2 | 17 | 19 |
| Louisiana | — | 1 | 1 |
| Maryland | 17 | — | 17 |
| Massachusetts | 1 | — | 1 |
| Michigan | 11 | — | 11 |
| Mississippi | — | 1 | 1 |
| Missouri | 23 | 4 | 27 |
| Nebraska | 7 | — | 7 |
| Nevada | 2 | — | 2 |
| New Jersey | 10 | — | 10 |
| North Carolina | 36 | 2 | 38 |
| Ohio | 48 | — | 48 |
| Oklahoma | 2 | — | 2 |
| Pennsylvania | 21 | — | 21 |
| South Carolina | 13 | — | 13 |
| Tennessee | 17 | 10 | 27 |
| Texas | 48 | 24 | 72 |
| Utah | — | 3 | 3 |
| Virginia | 30 | 4 | 34 |
| West Virginia | — | 1 | 1 |
| Wisconsin | 6 | — | 6 |
| TOTAL | 560 | 73 | 633 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.