Franopolis

    Caribou Coffee

    Franchise research report · reviewed 2026 disclosure data

    Researching Caribou Coffee franchise opportunities? Every figure below is cited to the FDD.

    Reviewed sources
    Franchising since
    2004
    Source: franchisedirect.com
    Headquarters
    Minneapolis, Minnesota
    Source: franchisedirect.com

    Caribou Coffee is a coffeehouse franchise business that operates indoor locations offering fresh-roasted coffee beverages, baked goods for on-premises and carry-out consumption, and related retail items. Its coffeehouses are designed to the franchisor’s specifications and may operate as chalet or cabin locations in stand-alone or traditional settings, or as kiosks in non-traditional facilities.

    Headline figures

    Quick facts

    How much does it cost to open a Caribou Coffee franchise?
    The Caribou Coffee Franchise Disclosure Document reports separate estimated initial investments by format: $760,000 for ved suppliers subtotal for leasehold costs $210,000 to $545,000 $475,000 to $720,000 — 760000 (2026 FDD, Item 7, PDF p. 20); $210,000 for 0 to $85,000 as incurred as incurred approved suppliers subtotal for leasehold costs — 210000 (2026 FDD, Item 7, PDF p. 20); $281,100–$1,515,000 for o $259,000 $138,100 to $245,000 total estimated initial investment (excluding lease) — 281100 (2026 FDD, Item 7, PDF p. 21); $138,100–$1,515,000 for rious subtotal for other pre- opening costs $71,100 to $167,000 $131,100 to $259,000 — 138100 (2026 FDD, Item 7, PDF p. 21); $475,000 for red as incurred approved suppliers subtotal for leasehold costs $210,000 to $545,000 — 475000 (2026 FDD, Item 7, PDF p. 20); $71,100–$1,515,000 for 0 to $94,000 as incurred after opening various subtotal for other pre- opening costs — 71100 (2026 FDD, Item 7, PDF p. 21); $131,100–$1,515,000 for rred after opening various subtotal for other pre- opening costs $71,100 to $167,000 — 131100 (2026 FDD, Item 7, PDF p. 21); $606,100–$1,515,000 for o $245,000 total estimated initial investment (excluding lease) $281,100 to $712,000 — 606100 (2026 FDD, Item 7, PDF p. 21). These formats are not combined. Each is the franchisor's disclosed estimate, not a quote. Details
    What ongoing fees does Caribou Coffee charge?
    The disclosed ongoing royalty is $4 Note 1) Cabin and Chalet: 5% of Gross Sales Kiosk: 6% of Gross Sales ( — 4% (2026 FDD, Item 6, PDF p. 14). The brand or advertising fund contribution is $1 (2026 FDD, Item 6, PDF p. 15). Other recurring fees are listed in Item 6. Details
    Does Caribou Coffee disclose financial performance (Item 19)?
    Yes. The Caribou Coffee FDD includes an Item 19 financial performance representation (2026 FDD, Item 19, PDF p. 56). Figures apply only to the locations and period each one covers. Details
    How many Caribou Coffee locations are there?
    The FDD reports 988 outlets at the end of 2025 (2026 FDD, Item 20, PDF p. 62). Existing locations do not indicate territory availability. Details

    From reviewed FDD figures only. Not a recommendation or projection.

    What the disclosures show

    1. 1The 2026 FDD (Item 7) estimates opening costs separately by format: $760,000 (ved Suppliers Subtotal for Leasehold Costs $210,000 to $545,000 $475,000 to $720,000 — 760000); $210,000 (0 to $85,000 As incurred As incurred Approved Suppliers Subtotal for Leasehold Costs — 210000); $281,100 – $1,515,000 (o $259,000 $138,100 to $245,000 Total Estimated Initial Investment (excluding Lease) — 281100); $138,100 – $1,515,000 (rious Subtotal for Other Pre- Opening Costs $71,100 to $167,000 $131,100 to $259,000 — 138100); $475,000 (red As incurred Approved Suppliers Subtotal for Leasehold Costs $210,000 to $545,000 — 475000); $71,100 – $1,515,000 (0 to $94,000 As incurred After opening Various Subtotal for Other Pre- Opening Costs — 71100); $131,100 – $1,515,000 (rred After opening Various Subtotal for Other Pre- Opening Costs $71,100 to $167,000 — 131100); $606,100 – $1,515,000 (o $245,000 Total Estimated Initial Investment (excluding Lease) $281,100 to $712,000 — 606100); several initial fee options apply.
    2. 2Item 19 covers 6 separate groups: other measures for 116 locations; other measures for 130 locations; other measures for 130 locations; other measures for 12 locations; other measures for 65 locations; other measures for locations. They are not combined.
    3. 3Outlets grew by 14 in 2025, to 988 (United States, as labeled in the FDD, Item 20).

    From reviewed FDD figures only. Not a recommendation or projection.

    Costs · Items 5–7

    What does it cost to open?

    Estimated opening costs and the fees payable to the franchisor.

    Startup Investment — Item 7

    Range across 8 single-unit formats

    2026 FDD · Item 7

    Formats disclosed in Item 7 (8)

    Each format has its own total. The total depends on the format you choose.

    • 0 to $94,000 As incurred After opening Various Subtotal for Other Pre- Opening Costs — 71100PDF p. 21$71,100 – $1,515,000
    • rred After opening Various Subtotal for Other Pre- Opening Costs $71,100 to $167,000 — 131100PDF p. 21$131,100 – $1,515,000
    • rious Subtotal for Other Pre- Opening Costs $71,100 to $167,000 $131,100 to $259,000 — 138100PDF p. 21$138,100 – $1,515,000
    • 0 to $85,000 As incurred As incurred Approved Suppliers Subtotal for Leasehold Costs — 210000PDF p. 20$210,000
    • o $259,000 $138,100 to $245,000 Total Estimated Initial Investment (excluding Lease) — 281100PDF p. 21$281,100 – $1,515,000
    • red As incurred Approved Suppliers Subtotal for Leasehold Costs $210,000 to $545,000 — 475000PDF p. 20$475,000
    • o $245,000 Total Estimated Initial Investment (excluding Lease) $281,100 to $712,000 — 606100PDF p. 21$606,100 – $1,515,000
    • ved Suppliers Subtotal for Leasehold Costs $210,000 to $545,000 $475,000 to $720,000 — 760000PDF p. 20$760,000

    Ongoing Fees — Item 6

    Selected recurring charges; payment bases and conditions remain attached to each fee.

    marks RoyaltyMain ongoing fee

    29 reported fees, each with its payment basis, are listed below; they haven't been sorted into recurring, initial and occasional groups yet.

    Financial Performance — Item 19

    What results are disclosed—and for which locations?

    6 separate populations, shown apart. Revenue is not owner income.

    Locations counted: not stated in the reviewed record

    Other measures · 116 locations

    Who is counted
    Company Chalet
    Excluded
    Notfull-yearnew/closedexcluded; full-year/half-year tablesdiffer
    Method
    Unaudited; numericperformance tablecellsnotextracted; nopopulationcombining

    Locations counted: not stated in the reviewed record

    Other measures · 130 locations

    Who is counted
    Kiosk nontraditional
    Excluded
    Notfull-yearnew/closedexcluded; full-year/half-year tablesdiffer
    Method
    Unaudited; numericperformance tablecellsnotextracted; nopopulationcombining

    Locations counted: not stated in the reviewed record

    Other measures · 130 locations

    Who is counted
    Kiosk
    Excluded
    Notfull-yearnew/closedexcluded; full-year/half-year tablesdiffer
    Method
    Unaudited; numericperformance tablecellsnotextracted; nopopulationcombining

    Locations counted: not stated in the reviewed record

    Other measures · 12 locations

    Who is counted
    Traditional
    Excluded
    Notfull-yearnew/closedexcluded; full-year/half-year tablesdiffer
    Method
    Unaudited; numericperformance tablecellsnotextracted; nopopulationcombining

    Locations counted: not stated in the reviewed record

    Other measures · 65 locations

    Who is counted
    Company Cabin
    Excluded
    Notfull-yearnew/closedexcluded; full-year/half-year tablesdiffer
    Method
    Unaudited; numericperformance tablecellsnotextracted; nopopulationcombining

    Locations counted: not stated in the reviewed record

    Other measures

    Who is counted
    Companydrive-thruChalet/Cabin
    Period
    8%
    Method
    EstimatedincrementalfranchiseCOGS5–8%;outermarkets>=eight; sourceestimate

    These groups are never combined.

    Outlet Changes — Item 20

    How has the outlet count changed?

    United States, as labeled in the FDD · counts as of 2025 of each year.

    2026 FDD · Item 20 · PDF p. 62

    Net +28 outlets, 2023–2025

    0960202397420249882025+14+14

    Year-end counts reported in Item 20. The scale starts at zero, so the line looks nearly flat; the labels between the dots show each year's change. Openings and closures for 2025 haven't been pulled from the Item 20 tables yet, so no turnover or churn is shown.

    Questions to investigate

    Prompts based on what this brand's reviewed disclosures do and don't show — not conclusions. Join free as a member to save questions to your research.

    For the franchisor

    • Which line items in the 2026 Item 7 estimate ($71,100 – $1,515,000) vary most by market, and why?

    • Which initial fee option would apply to my situation, and what conditions or discounts affect it?

    • Which locations are included in the Item 19 figures, and which were excluded?

    • Reported units went from 974 to 988 in 2025. How many new units opened, closed or changed hands?

    • Is a territory available in my area, and how is it defined in my agreement?

    For current and former owners

    • How did your actual startup costs and timeline compare with the Item 7 estimate?

    • How many hours a week do you work in the business, and in what role?

    • How do your results compare with the Item 19 figures, and what explains the difference?

    • What support from the franchisor has been most and least useful?

    For your advisors

    • Ask a franchise attorney to review the territory, renewal, transfer and termination terms.

    • Ask an accountant to build a cash-flow plan using your own assumptions, not the franchisor's.

    Sources & vintage history

    Every displayed fact is retained with its disclosure vintage, item, page, and reviewed status. Prior vintages remain on file rather than being overwritten.

    Citations (2026 FDD)

    1. [1]Item 19 — Locations counted not stated in the reviewed record — Company Chalet · PDF p. 56
    2. [2]Item 19 — Locations counted not stated in the reviewed record — Kiosk nontraditional · PDF p. 54
    3. [3]Item 19 — Locations counted not stated in the reviewed record — Kiosk · PDF p. 54
    4. [4]Item 19 — Locations counted not stated in the reviewed record — Traditional · PDF p. 54
    5. [5]Item 19 — Locations counted not stated in the reviewed record — Company Cabin · PDF p. 56
    6. [6]Item 19 — Locations counted not stated in the reviewed record — Companydrive-thruChalet/Cabin · PDF p. 61
    7. [7]Outlet counts — Item 20, Table 1 · PDF p. 62

    "PDF p." is the page in the PDF file; "printed p." is the number printed on the FDD page. Source document: FDD

    Territory & operations

    These are contract disclosures, not confirmation that any territory is currently available.

    Legal & agreement

    Franchisor financial statements

    Fiscal yearMeasureReported value
    2025total other assets$840,546
    2025cash and cash equivalents$46,140
    2025other accounts receivable$5,217
    2025current operating lease liabilities$65,395
    2025total shareholders' equity$703,879
    2025prepaid expenses and other assets$7,169
    2025trademarks, net$457,500
    2025note receivable$49,842
    2025retained earnings$286,385
    2025income tax expense$9,460
    2025total shareholders' equity before non-controlling interest$701,015
    2025franchise and commercial product cost of goods sold$51,303
    2025general and administrative expenses$104,968
    2025total coffeehouse and bagel bakery expense$765,270
    2025inventoriesMore than one value recorded for this year — open the FDD source before comparing-$3,364
    2025proceeds on line of credit$7,000
    2025operating income$40,491
    2025amortization of deferred financing fees$458
    2025impairment of restaurant assets$1,927
    2025deposits and other-$4,580
    2025operating lease assets and lease liabilities-$4,413
    2025cash, cash equivalents and restricted cash, beginning of period$69,161
    2025proceeds from disposal of property and equipment$332
    2025proceeds from intercompany note receivebale$40,000
    2025net-$23,021
    2025accounts payableMore than one value recorded for this year — open the FDD source before comparing$40,399
    2025accrued expensesMore than one value recorded for this year — open the FDD source before comparing$75,768
    2025trade accounts receivable, net$19,758
    2025inventoriesMore than one value recorded for this year — open the FDD source before comparing$22,375
    2025total current assets$100,659
    2025operating lease assets$296,407
    2025property and equipment, net$243,059
    2025goodwill$322,608
    2025other intangible assets, net$3,908
    2025deposit and other$6,688
    2025total assets$1,480,671
    2025current portion of long-term debt$2,203
    2025total current liabilities$183,765
    2025long-term debt, net of unamortized discount$81,471
    2025deferred income taxes, net$100,599
    2025long-term operating lease liabilities$265,948
    2025other long-term liabilitiesMore than one value recorded for this year — open the FDD source before comparing$107,243
    2025total long-term liabilities$555,261
    2025commitments and contingencies noncontrolling interests subject to put provisions$37,766
    2025additional paid-in capital$414,417
    2025noncontrolling interest$2,864
    2025total liabilities and shareholders’ equity$1,480,671
    2025coffeehouse and bagel bakery sales$940,944
    2025franchise royalties and fees$30,590
    2025franchise advertising sales$5,637
    2025franchise and commercial product sales$70,757
    2025net sales$1,047,928
    2025cost of goods sold$233,552
    2025labor$281,611
    2025occupancy$97,320
    2025other operating expenses$152,787
    2025franchise operations and other expenses$2,302
    2025ad fund expense franchise$5,637
    2025depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$51,987
    2025goodwill impairment charges$19,277
    2025pre-opening expenses$6,693
    2025total costs and expenses$1,007,437
    2025interest expense, net$1,404
    2025pre-tax income$39,087
    2025net income$29,627
    2025less net income attributable to noncontrolling interest$1,107
    2025depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$50,060
    2025stock-based compensation$6,888
    2025deferred income taxes-$2,911
    2025right of use asset impairment charges$570
    2025losses on disposal of assets$361
    2025provision for$3
    2025other$2,442
    2025trade and other accounts receivable, net$5,197
    2025prepaid expenses and other-$2,052
    2025accounts payableMore than one value recorded for this year — open the FDD source before comparing-$10,282
    2025accrued expensesMore than one value recorded for this year — open the FDD source before comparing-$27,362
    2025other long-term liabilitiesMore than one value recorded for this year — open the FDD source before comparing$4,143
    2025net cash provided by operating activities$65,989
    2025payments for property and equipment-$110,761
    2025net cash used in investing activities-$110,429
    2025distribution of noncontrolling interest-$763
    2025issuances of noncontrolling interests subject to put provisions$1,931
    2025repurchases of noncontrolling interests subject to put provisions-$24,286
    2025term loan repayments-$2,463
    2025net cash used in financing activities$21,419
    2025cash, cash equivalents and restricted cash, end of period$46,140
    2024inventoriesMore than one value recorded for this year — open the FDD source before comparing$19,011
    2024operating lease assets$258,184
    2024total current liabilities$210,862
    2024other long-term liabilitiesMore than one value recorded for this year — open the FDD source before comparing$105,071
    2024accrued expensesMore than one value recorded for this year — open the FDD source before comparing$100,242
    2024deferred income taxes, net$103,301
    2024total long-term liabilities$512,141
    2024franchise royalties and fees$29,393
    2024occupancy$91,836
    2024total shareholders' equity before non-controlling interest$671,639
    2024franchise advertising sales$5,277
    2024franchise operations and other expenses$3,276
    2024net income$57,695
    2024total liabilities and shareholders’ equity$1,450,018
    2024net sales$1,061,964
    2024total costs and expenses$984,982
    2024interest expense, net$2,990
    2024less net income attributable to noncontrolling interest$1,732
    2024other$2,829
    2024stock-based compensation$13,023
    2024net cash provided by operating activities$94,409
    2024settlement of canceled shares-$239
    2024issuances of noncontrolling interests subject to put provisions$1,002
    2024net-$6,196
    2024accounts payableMore than one value recorded for this year — open the FDD source before comparing$47,463
    2024cash and cash equivalents$69,161
    2024trade accounts receivable, net$17,930
    2024other accounts receivable$2,903
    2024prepaid expenses and other assets$5,117
    2024total current assets$114,122
    2024property and equipment, net$181,735
    2024goodwill$341,885
    2024trademarks, net$457,500
    2024other intangible assets, net$4,487
    2024note receivable$89,842
    2024deposit and other$2,263
    2024total other assets$895,977
    2024total assets$1,450,018
    2024current operating lease liabilities$61,033
    2024current portion of long-term debt$2,124
    2024long-term debt, net of unamortized discount$76,711
    2024long-term operating lease liabilities$227,058
    2024commitments and contingencies noncontrolling interests subject to put provisions$52,454
    2024additional paid-in capital$413,561
    2024retained earnings$257,865
    2024noncontrolling interest$2,922
    2024total shareholders' equity$674,561
    2024coffeehouse and bagel bakery sales$928,364
    2024franchise and commercial product sales$98,930
    2024cost of goods sold$226,684
    2024labor$272,016
    2024other operating expenses$144,214
    2024total coffeehouse and bagel bakery expense$734,750
    2024ad fund expense franchise$5,277
    2024franchise and commercial product cost of goods sold$74,289
    2024depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$45,304
    2024general and administrative expenses$117,472
    2024pre-opening expenses$4,614
    2024operating income$76,982
    2024pre-tax income$73,992
    2024income tax expense$16,297
    2024depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$45,190
    2024amortization of deferred financing fees$588
    2024deferred income taxes-$1,695
    2024impairment of restaurant assets$114
    2024right of use asset impairment charges$52
    2024losses on disposal of assets$378
    2024provision for-$161
    2024trade and other accounts receivable, net$8,955
    2024inventoriesMore than one value recorded for this year — open the FDD source before comparing$1,340
    2024prepaid expenses and other-$726
    2024deposits and other-$123
    2024accounts payableMore than one value recorded for this year — open the FDD source before comparing-$38,630
    2024accrued expensesMore than one value recorded for this year — open the FDD source before comparing$19,131
    2024operating lease assets and lease liabilities-$4,862
    2024other long-term liabilitiesMore than one value recorded for this year — open the FDD source before comparing-$8,689
    2024payments for property and equipment-$85,284
    2024proceeds from disposal of property and equipment-$3
    2024net cash used in investing activities-$85,287
    2024distribution of noncontrolling interest-$931
    2024repurchases of noncontrolling interests subject to put provisions-$1,601
    2024repayments on line of credit-$45,000
    2024term loan repayments-$3,549
    2024proceeds from intercompany note receivebale$35,000
    2024net cash used in financing activities-$15,318
    2024cash, cash equivalents and restricted cash, beginning of period$75,357
    2023franchise advertising sales$4,347
    2023cost of goods sold$216,401
    2023franchise and commercial product cost of goods sold$126,434
    2023occupancy$85,519
    2023pre-opening expenses$2,450
    2023right of use asset impairment charges$40
    2023accounts payable$362
    2023operating lease assets and lease liabilities-$7,307
    2023trade and other accounts receivable, net$1,692
    2023inventories-$3,266
    2023proceeds from disposal of property and equipment$38
    2023net cash used in investing activities-$42,719
    2023coffeehouse and bagel bakery sales$859,563
    2023franchise royalties and fees$26,126
    2023franchise and commercial product sales$161,441
    2023net sales$1,051,477
    2023labor$248,045
    2023other operating expenses$132,419
    2023total coffeehouse and bagel bakery expense$682,384
    2023franchise operations and other expenses$3,406
    2023ad fund expense franchise$4,408
    2023depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$40,071
    2023general and administrative expenses$102,607
    2023total costs and expenses$961,760
    2023operating income$89,717
    2023interest expense, net$16,186
    2023pre-tax income$73,531
    2023income tax expense$13,991
    2023net income$59,540
    2023less net income attributable to noncontrolling interest$1,800
    2023depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$39,951
    2023amortization of deferred financing fees$685
    2023stock-based compensation$9,790
    2023deferred income taxes$262
    2023impairment of restaurant assets$120
    2023losses on disposal of assets$538
    2023provision for$1
    2023other$2,405
    2023prepaid expenses and other$302
    2023deposits and other$7,192
    2023accrued expenses-$6,228
    2023other long-term liabilities$918
    2023net cash provided by operating activities$106,997
    2023payments for property and equipment-$42,757
    2023distribution of noncontrolling interest-$929
    2023issuances of noncontrolling interests subject to put provisions$1,277
    2023repurchases of noncontrolling interests subject to put provisions-$15,673
    2023repayments on line of credit-$45,000
    2023term loan repayments-$4,346
    2023dividends-$18,774
    2023net cash used in financing activities-$83,445
    2023net-$19,167
    2023cash, cash equivalents and restricted cash, beginning of period$94,524

    These figures describe the franchisor company, not individual franchise locations.

    SBA-backed loans to franchisees

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    Source: U.S. Small Business Administration 7(a) & 504 FOIA data. Loan volume is not a measure of franchisee success.

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    At a glance

    Business history

    Not reviewed

    Owner participation

    Not reviewed

    Territory language

    Litigation disclosure

    Not reviewed

    Bankruptcy disclosure

    Not reviewed

    Agreement term

    Not reviewed

    Independent analysis of franchisor-provided data. Not investment advice. Franopolis does not distribute FDDs.