Where the units are and who operates them
Companies operating franchise units declare a median registered capital of R$ 60,000
Median registered capital declared by 45,366 companies that operate establishments of 527 networks, counted by CNPJ root within each network
See the full table (30 rows)
| Subset | Companies | First quartile | Median | Third quartile | Median of other companies | R$ 100,000 or more, networks | R$ 100,000 or more, others |
|---|---|---|---|---|---|---|---|
| Gyms and sports | 2,019 | R$ 25,000 | R$ 90,000 | R$ 250,000 | R$ 30,000 | 49.0% | 22.6% |
| Food | 9,315 | R$ 30,000 | R$ 88,000 | R$ 150,000 | R$ 35,000 | 47.8% | 23.0% |
| Food, retail and distribution | 4,991 | R$ 20,000 | R$ 50,000 | R$ 100,000 | R$ 50,000 | 36.0% | 31.1% |
| Education | 2,646 | R$ 20,000 | R$ 50,000 | R$ 100,000 | R$ 20,000 | 32.5% | 15.8% |
| Fashion and accessories | 7,350 | R$ 30,000 | R$ 78,800 | R$ 100,000 | R$ 40,000 | 41.9% | 25.2% |
| Health, beauty and wellness | 9,064 | R$ 30,000 | R$ 60,000 | R$ 110,000 | R$ 30,000 | 40.4% | 20.1% |
| Services and other businesses | 9,657 | R$ 25,000 | R$ 50,000 | R$ 105,590 | R$ 40,000 | 38.3% | 30.3% |
| Tourism and hospitality | 324 | R$ 10,000 | R$ 30,000 | R$ 70,800 | R$ 30,000 | 19.4% | 28.8% |
| All measured networks | 45,366 | R$ 30,000 | R$ 60,000 | R$ 110,000 | R$ 31,000 | 41.0% | 24.8% |
| Networks with 30 to 99 establishments | 16,203 | R$ 25,000 | R$ 50,000 | R$ 100,000 | not calculated | 38.0% | not calculated |
| Networks with 100 to 499 establishments | 19,457 | R$ 30,000 | R$ 60,000 | R$ 110,000 | not calculated | 40.8% | not calculated |
| Networks with 500 or more establishments | 9,706 | R$ 30,000 | R$ 80,000 | R$ 150,000 | not calculated | 46.3% | not calculated |
| Networks with fewer than 30 establishments (excluded from the total) | 10,547 | R$ 20,000 | R$ 50,000 | R$ 100,000 | not calculated | 36.0% | not calculated |
| First unit opened in 2010 | 506 | R$ 20,000 | R$ 50,000 | R$ 100,000 | R$ 30,000 | 31.2% | 21.5% |
| First unit opened in 2011 | 587 | R$ 25,000 | R$ 62,200 | R$ 100,000 | R$ 30,000 | 35.6% | 22.4% |
| First unit opened in 2012 | 743 | R$ 30,000 | R$ 62,200 | R$ 100,000 | R$ 40,000 | 35.9% | 23.8% |
| First unit opened in 2013 | 846 | R$ 30,000 | R$ 68,000 | R$ 100,000 | R$ 50,000 | 37.6% | 24.9% |
| First unit opened in 2014 | 934 | R$ 30,000 | R$ 75,000 | R$ 100,000 | R$ 50,000 | 38.7% | 24.9% |
| First unit opened in 2015 | 984 | R$ 30,000 | R$ 80,000 | R$ 100,000 | R$ 50,000 | 38.4% | 25.6% |
| First unit opened in 2016 | 1,143 | R$ 40,000 | R$ 88,000 | R$ 100,000 | R$ 50,000 | 38.1% | 26.0% |
| First unit opened in 2017 | 1,277 | R$ 30,000 | R$ 93,700 | R$ 100,000 | R$ 50,000 | 41.4% | 27.4% |
| First unit opened in 2018 | 1,594 | R$ 40,000 | R$ 95,400 | R$ 100,000 | R$ 50,000 | 43.5% | 29.2% |
| First unit opened in 2019 | 2,120 | R$ 30,000 | R$ 96,700 | R$ 100,000 | R$ 50,000 | 45.0% | 31.9% |
| First unit opened in 2020 | 2,428 | R$ 30,000 | R$ 60,000 | R$ 105,000 | R$ 40,000 | 43.0% | 29.2% |
| First unit opened in 2021 | 3,671 | R$ 30,000 | R$ 70,000 | R$ 120,000 | R$ 30,000 | 43.6% | 25.9% |
| First unit opened in 2022 | 4,423 | R$ 30,000 | R$ 60,000 | R$ 120,600 | R$ 30,000 | 41.3% | 24.1% |
| First unit opened in 2023 | 5,297 | R$ 30,000 | R$ 60,000 | R$ 140,000 | R$ 30,000 | 41.9% | 24.8% |
| First unit opened in 2024 | 5,999 | R$ 30,000 | R$ 60,000 | R$ 149,500 | R$ 30,000 | 43.6% | 24.3% |
| First unit opened in 2025 | 6,102 | R$ 25,000 | R$ 50,000 | R$ 120,000 | R$ 30,000 | 40.4% | 23.4% |
| First unit opened in 2026 (partial year) | 4,264 | R$ 24,100 | R$ 50,000 | R$ 120,000 | R$ 30,000 | 40.9% | 21.1% |
Registered capital by segmentMedian declared capital and distribution of companies by value range. The last row shows the other companies in the same CNAEs and opening periods, weighted by the composition of the networks.
| Segment | Companies | Median | Up to R$ 10,000 | R$ 10,000 to R$ 50,000 | R$ 50,000 to R$ 100,000 | R$ 100,000 to R$ 500,000 | R$ 500,000 or more |
|---|---|---|---|---|---|---|---|
| Gyms and sports | 2,019 | R$ 90,000 | 15.2% | 30.2% | 21.0% | 15.3% | 18.4% |
| Food | 9,315 | R$ 88,000 | 9.7% | 32.5% | 25.2% | 28.5% | 4.0% |
| Fashion and accessories | 7,350 | R$ 78,800 | 9.9% | 34.4% | 32.0% | 21.5% | 2.3% |
| Health, beauty and wellness | 9,064 | R$ 60,000 | 11.3% | 37.0% | 25.2% | 22.2% | 4.3% |
| Food, retail and distribution | 4,991 | R$ 50,000 | 15.1% | 37.5% | 25.3% | 20.8% | 1.3% |
| Education | 2,646 | R$ 50,000 | 15.2% | 40.1% | 24.7% | 17.0% | 2.9% |
| Services and other businesses | 9,657 | R$ 50,000 | 15.5% | 36.0% | 23.0% | 22.9% | 2.6% |
| Tourism and hospitality | 324 | R$ 30,000 | 27.8% | 41.4% | 19.1% | 7.7% | 4.0% |
| All measured networks | 45,366 | R$ 60,000 | 12.6% | 35.4% | 25.6% | 22.7% | 3.8% |
| Other companies | 3,024,744 | R$ 31,000 | 26.1% | 40.3% | 18.9% | 12.9% | 1.8% |
Series by year of openingQuartiles of the capital of network companies by year of opening of the company's first active unit in the network. Capital is the current amount, in nominal values. * Law 13.874/2019 allowed the single-member limited liability company, without the floor of 100 minimum wages required of the individual limited liability company.
| Year of opening | Companies | First quartile | Median | Third quartile | Median of other companies |
|---|---|---|---|---|---|
| 2010 | 506 | R$ 20,000 | R$ 50,000 | R$ 100,000 | R$ 30,000 |
| 2011 | 587 | R$ 25,000 | R$ 62,200 | R$ 100,000 | R$ 30,000 |
| 2012 | 743 | R$ 30,000 | R$ 62,200 | R$ 100,000 | R$ 40,000 |
| 2013 | 846 | R$ 30,000 | R$ 68,000 | R$ 100,000 | R$ 50,000 |
| 2014 | 934 | R$ 30,000 | R$ 75,000 | R$ 100,000 | R$ 50,000 |
| 2015 | 984 | R$ 30,000 | R$ 80,000 | R$ 100,000 | R$ 50,000 |
| 2016 | 1,143 | R$ 40,000 | R$ 88,000 | R$ 100,000 | R$ 50,000 |
| 2017 | 1,277 | R$ 30,000 | R$ 93,700 | R$ 100,000 | R$ 50,000 |
| 2018 | 1,594 | R$ 40,000 | R$ 95,400 | R$ 100,000 | R$ 50,000 |
| 2019* | 2,120 | R$ 30,000 | R$ 96,700 | R$ 100,000 | R$ 50,000 |
| 2020 | 2,428 | R$ 30,000 | R$ 60,000 | R$ 105,000 | R$ 40,000 |
| 2021 | 3,671 | R$ 30,000 | R$ 70,000 | R$ 120,000 | R$ 30,000 |
| 2022 | 4,423 | R$ 30,000 | R$ 60,000 | R$ 120,600 | R$ 30,000 |
| 2023 | 5,297 | R$ 30,000 | R$ 60,000 | R$ 140,000 | R$ 30,000 |
| 2024 | 5,999 | R$ 30,000 | R$ 60,000 | R$ 149,500 | R$ 30,000 |
| 2025 | 6,102 | R$ 25,000 | R$ 50,000 | R$ 120,000 | R$ 30,000 |
| 2026 (partial) | 4,264 | R$ 24,100 | R$ 50,000 | R$ 120,000 | R$ 30,000 |
Median by segment and opening periodMedian declared capital, with cells published from 5 companies upward. The 2020 to 2021 median is below the 2016 to 2019 median in 6 of the 8 segments.
| Segment | 2012 to 2015 | 2016 to 2019 | 2020 to 2021 | 2022 to 2023 | 2024 to 2025 |
|---|---|---|---|---|---|
| Gyms and sports | R$ 100,000 | R$ 92,700 | R$ 50,000 | R$ 50,000 | R$ 100,000 |
| Food | R$ 90,000 | R$ 99,800 | R$ 60,000 | R$ 80,000 | R$ 91,000 |
| Fashion and accessories | R$ 80,000 | R$ 95,400 | R$ 70,000 | R$ 60,000 | R$ 50,000 |
| Health, beauty and wellness | R$ 60,000 | R$ 70,000 | R$ 80,000 | R$ 60,000 | R$ 50,000 |
| Food, retail and distribution | R$ 60,000 | R$ 93,700 | R$ 50,000 | R$ 50,000 | R$ 50,000 |
| Education | R$ 50,000 | R$ 94,000 | R$ 50,000 | R$ 50,000 | R$ 50,000 |
| Services and other businesses | R$ 67,800 | R$ 70,000 | R$ 50,500 | R$ 50,000 | R$ 50,000 |
| Tourism and hospitality | R$ 25,000 | R$ 32,500 | R$ 35,000 | R$ 20,000 | R$ 20,000 |
| All measured networks | R$ 73,000 | R$ 90,000 | R$ 60,000 | R$ 60,000 | R$ 50,100 |
The capital social (registered capital) is the amount that the partners declare in the company's articles of association and that the CNPJ (Brazilian company registry) records. It does not correspond to the investment in the franchise and does not serve as an estimate of the cost of opening a unit or a network, because it does not include the franchise fee, fit-out, inventory or working capital, and it may not have been fully paid in. The indicator describes this amount in the companies that operate establishments attributed to 527 networks, counting each CNPJ root once within each network.
The median declared capital is R$ 60,000, with a first quartile of R$ 30,000 and a third quartile of R$ 110,000, across 45,366 companies. In the distribution, 12.6% declare up to R$ 10,000, 35.4% from R$ 10,000 to R$ 50,000, 25.6% from R$ 50,000 to R$ 100,000, 22.7% from R$ 100,000 to R$ 500,000 and 3.8% R$ 500,000 or more. The amounts are round and cluster at a few points, among them R$ 100,000 (14.6%), R$ 50,000 (12.2%) and R$ 10,000 (8.7%), so small differences between medians carry little meaning. Among the segments, the median ranges from R$ 30,000 in tourism and hospitality to R$ 90,000 in gyms and sports.
In the same CNAEs (national classification of economic activities) and opening periods, the other active companies with a trade name declare a median of R$ 31,000, and the share with R$ 100,000 or more is 24.8%, compared with 41.0% in the network companies. The networks' median exceeds that of the other companies in 6 of the 8 segments and is the same in food, retail and distribution and in tourism and hospitality. From 2012 to 2019, the median by year of opening stays within 3.6% of the floor of 100 minimum wages required of the individual limited liability company, which went from R$ 62,200 to R$ 99,800, and it is R$ 60,000 in 2020, after Law 13.874/2019 allowed the single-member limited liability company without that floor. The movement is consistent with this rule, which the current registry does not allow to be isolated, and for this reason the series does not indicate a capitalization trend.
How we calculate
We start from the active establishments (registration status 02) that the observatory's census attributes to each network in the open CNPJ data of Receita Federal (the federal tax authority), reference month October 2026, and group them by CNPJ root within each network, so that a company with several units weighs once and one present in two networks counts in each. The registered capital comes from the Empresas (companies) file of the same reference month, and the total covers the 530 networks with at least 30 active establishments in the census list, which add up to 50,297 network and company pairs. The set goes beyond the 503 measured networks of the other indicators because it includes networks with no Receita Federal count published in the network profile.
Excluded from the calculation, in this order, are 2,613 sole proprietors (code 2135 in the natureza jurídica, or legal form, table), 10 companies with a non-business legal form, 262 with capital of R$ 0 or R$ 1, 70 franchisor roots, 162 roots with 10 or more active establishments in the database, which combine company-owned units and large operators and have a median of R$ 1.5 million, and 1,814 companies with signs of prior or parallel activity, with a median of R$ 93,700. Such signs are a headquarters outside the network, the presence of other establishments outside the network or an opening 3 or more years before the 5th percentile of the network's openings. That leaves 45,366 pairs in 527 networks and 45,343 distinct roots. The text calls a unit the active establishment that carries the brand in its trade name, and the year of opening is that of the company's first active unit in the network. The ranges include the upper limit, except the last one, which starts at R$ 500,000. If each establishment counted once, with the larger roots included, the median would be R$ 88,000.
The comparison uses the other roots with an active establishment and a trade name in the same primary CNAEs, 3,024,744 companies in total, with the same filters for legal form, capital, size and headquarters. None of them appears in the networks' list of establishments or is a known franchisor. To avoid a composition effect, the other companies receive weights that reproduce the distribution of the network companies by CNAE and opening period, which covers 99.7% of the network companies. Without the weights, the median of the other companies is R$ 30,000, with weights by CNAE only it is R$ 30,000, and with the state added to the weighting it is R$ 35,000. Only CNAEs with 5 or more network companies are included. The capital requirement for the individual limited liability company is set out in art. 980-A of the Civil Code, added by Law 12.441/2011, Law 13.874/2019 allowed the single-member limited liability company, and Law 14.195/2021 converted the existing companies into single-member limited liability companies, which is why the current registry no longer identifies them by legal form.
What this figure does not show
- Registered capital is the amount declared in the articles of association, may not have been fully paid in and does not measure investment, net worth, revenue or the cost of opening a unit or a network.
- The registry shows only the current capital, in nominal values, with no history of changes. In the series by year, today's capital is associated with the year of opening, and only companies that are still active are included.
- The registry does not distinguish company-owned units from franchised units. The cutoff by root size is an approximation, which also removes large franchisees and keeps company-owned operations spread across few establishments.
- A company that adopted the brand after carrying out another activity under the same root is only partly identified, because the registry does not keep the previous trade name.
- The individual microentrepreneur (MEI) is left out of any count by trade name. In one of the ten establishment files of Receita Federal, 23 of 345,013 active MEI establishments show a trade name, compared with 53.2% of the others, which prevents measuring the presence of MEI in the networks.
- The count depends on the establishment using the brand in its trade name, and namesakes or units with another name may be included or left out. In the comparison, unidentified franchise units remain among the other companies.
- The comparison controls for CNAE and opening period, but not for revenue or business size, and describes an association without indicating a cause. It considers only companies with a trade name, and in the same sample file the weighted median is R$ 40,000 with a trade name and R$ 30,000 without one.
- Typing errors remain in the database, such as the 4 microenterprises with capital of R$ 10 million or more in the subset, and for this reason we publish the median and quartiles, without the mean.
Frequently asked questions
What is the registered capital of companies that operate franchises?
The median capital social (registered capital) is R$ 60,000, with half of the companies between R$ 30,000 and R$ 110,000, in the 527 networks with 30 or more active establishments tracked by the Franquias em Dados observatory, based on the CNPJ (Brazilian company registry) records of October 2026. The count considers each company once in each network and excludes sole proprietors, franchisors and roots with 10 or more establishments.
Is registered capital the same as the investment in a franchise?
No. The capital social (registered capital) is the amount declared in the company's articles of association, which may not have been fully paid in, and it does not include the franchise fee, fit-out, inventory or working capital. For this reason the measure does not serve as an estimate of the cost of opening a unit or a network.
Do franchise companies have higher registered capital than others in the same sector?
At the median, network companies declare R$ 60,000 of registered capital and other active companies in the same CNAEs (national classification of economic activities) and opening periods declare R$ 31,000. The share with R$ 100,000 or more is 41.0% and 24.8%, respectively. The networks' median exceeds that of the other companies in 6 of the 8 segments and is the same in food, retail and distribution and in tourism and hospitality. The comparison describes the registry and does not indicate a cause.
Is it possible to know how many franchises are operated by individual microentrepreneurs (MEI)?
Not by trade name. The open CNPJ (Brazilian company registry) data almost never include that field for MEI, the individual microentrepreneur regime (23 of 345,013 active establishments in one of the ten files of the database), and the networks are identified by it. In the networks, fewer than 5 companies have a current MEI election, and the sole proprietor with natureza jurídica (legal form) code 2135, 5.2% of the measured pairs, corresponds to a different registration situation.
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Where the units are and who operates themOther indicators in the same group
Maintained by Marktech, which serves franchise networks and franchises. The brands cited belong to their owners and are mentioned here only to identify the network the data refers to.