PANERA BREAD BAKERY-CAFE
Franchise research report · reviewed 2026 disclosure data
Researching PANERA BREAD BAKERY-CAFE franchise opportunities? Every figure below is cited to the FDD.
Panera Bread Bakery-Cafe franchise combines freshly baked goods, soups, salads, and sandwiches in a fast-casual dining concept that has built a loyal customer b
Headline figures
Quick facts
- How much does it cost to open a PANERA BREAD BAKERY-CAFE franchise?
- The PANERA BREAD BAKERY-CAFE Franchise Disclosure Document reports separate estimated initial investments by format: $1,337,139–$2,518,186 for core bakery-cafe estimated total excluding real estate and related costs and landlord allowances: $1,337,139 to $4,569,880 (2026 FDD, Item 7, PDF p. 22); $1,173,702–$2,518,186 for estimated total excluding real estate and related costs, and landlord allowances: $1,173,702 to $3,572,359 (2026 FDD, Item 7, PDF p. 22); $498,306–$2,518,186 for non-traditional bakery-cafe estimated total excluding real estate and related costs and landlord allowances: $498,306 to $2,518,186 (2026 FDD, Item 7, PDF p. 22). These formats are not combined. Each is the franchisor's disclosed estimate, not a quote. Details
- Does PANERA BREAD BAKERY-CAFE disclose financial performance (Item 19)?
- Yes. The PANERA BREAD BAKERY-CAFE FDD includes an Item 19 financial performance representation (2026 FDD, Item 19, PDF p. 64). Figures apply only to the locations and period each one covers. Details
- How many PANERA BREAD BAKERY-CAFE locations are there?
- The FDD reports 2,214 outlets at the end of 2025 (2026 FDD, Item 20, PDF p. 65). Existing locations do not indicate territory availability. Details
From reviewed FDD figures only. Not a recommendation or projection.
What the disclosures show
- 1The 2026 FDD (Item 7) estimates opening costs separately by format: $1,337,139 – $2,518,186 (Core Bakery-Cafe estimated total excluding real estate and related costs and landlord allowances: $1,337,139 to $4,569,880); $1,173,702 – $2,518,186 (Estimated Total excluding real estate and related costs, and landlord allowances: $1,173,702 to $3,572,359); $498,306 – $2,518,186 (Non-Traditional Bakery-Cafe estimated total excluding real estate and related costs and landlord allowances: $498,306 to $2,518,186); several initial fee options apply.
- 2Item 19 covers 3 separate groups: adjusted operating results for 1,087 Company-owned locations; revenue and other measures for 1,087 Company-owned locations; revenue and other measures for 1,073 Franchisee-owned locations. They are not combined.
- 3Outlets grew by 29 in 2025, to 2,214 (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 3 single-unit formats
2026 FDD · Item 7
Formats disclosed in Item 7 (3)
Each format has its own total. The total depends on the format you choose.
- Non-Traditional Bakery-Cafe estimated total excluding real estate and related costs and landlord allowances: $498,306 to $2,518,186PDF p. 22$498,306 – $2,518,186
- Estimated Total excluding real estate and related costs, and landlord allowances: $1,173,702 to $3,572,359PDF p. 22$1,173,702 – $2,518,186
- Core Bakery-Cafe estimated total excluding real estate and related costs and landlord allowances: $1,337,139 to $4,569,880PDF p. 22$1,337,139 – $2,518,186
Ongoing Fees — Item 6
Selected recurring charges; payment bases and conditions remain attached to each fee.
31 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?
3 separate populations, shown apart. Revenue is not owner income.
Locations counted: not stated in the reviewed record
Adjusted operating results · 1,087 locations
Adjusted company-owned results: the franchisor adjusted these centers' expenses to estimate franchisee costs. They are not observed franchisee results or owner take-home income.
- Who is counted
- Company-owned full-year Panera bakery-cafes
- Excluded
- Nontraditional results not relevant; includes21delivery/carryout and excludes2deliveryonly. Profit/EBITDA excludes franchise royalties,initialfeeamortization,bankfinancing.
- Method
- Company GAAP mean annual figures; excludes intercompany consolidation adjustments. Gross revenues exclude taxes; net sales additionally excludes refunds/discounts; food/papercosts; EBITDA before interest,taxes,depreciation,amortization.
Locations counted: not stated in the reviewed record
Revenue and other measures · 1,087 locations
- Who is counted
- Company-owned
- Excluded
- Nontraditional results not relevant; includes21delivery/carryout and excludes2deliveryonly. Profit/EBITDA excludes franchise royalties,initialfeeamortization,bankfinancing.
- Method
- Company GAAP mean annual figures; excludes intercompany consolidation adjustments. Gross revenues exclude taxes; net sales additionally excludes refunds/discounts; food/papercosts; EBITDA before interest,taxes,depreciation,amortization.
Locations counted: not stated in the reviewed record
Revenue and other measures · 1,073 locations
- Who is counted
- Franchisee-owned
- Excluded
- Nontraditional results not relevant; includes21delivery/carryout and excludes2deliveryonly. Profit/EBITDA excludes franchise royalties,initialfeeamortization,bankfinancing.
- Method
- Unaudited royalty reports; full-year net sales, excludes taxes,refunds,discounts.
These groups are never combined. Adjusted company-owned operating results cannot be divided by franchised revenue to calculate a franchisee profit margin.
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. 65
Net +63 outlets, 2023–2025
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 ($498,306 – $2,518,186) 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 2,185 to 2,214 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]Item 19 — Locations counted not stated in the reviewed record — Company-owned full-year Panera bakery-cafes · PDF p. 64
- [2]Item 19 — Locations counted not stated in the reviewed record — Company-owned · PDF p. 63
- [3]Item 19 — Locations counted not stated in the reviewed record — Franchisee-owned · PDF p. 63
- [4]Outlet counts — Item 20, Table 1 · PDF p. 65
"PDF p." is the page in the PDF file; "printed p." is the number printed on the FDD page. Source document: FDD
Territory & operations
205 addresses in Franopolis's imported location list. Coverage may differ from Item 20 outlet counts.
These are contract disclosures, not confirmation that any territory is currently available.
Legal & agreement
Franchisor financial statements
| Fiscal year | Measure | Reported value |
|---|---|---|
| 2025 | stock-based compensation expense 2025 | $46,206 |
| 2025 | deferred income taxes 2025More than one value recorded for this year — open the FDD source before comparing | -$10,103 |
| 2025 | goodwill and trademark impairment 2025More than one value recorded for this year — open the FDD source before comparing | $568,893 |
| 2025 | change in fair value of warrant liabilities 2025 | $21,607 |
| 2025 | structured payables 2025 | $13,188 |
| 2025 | franchise royalties, it and other fees 2025 | $221,047 |
| 2025 | franchise advertising 2025 | $108,670 |
| 2025 | total revenues 2025 | $4,613,681 |
| 2025 | additional paid-in capital 2025 | $5,194,265 |
| 2025 | other 2025 | $1,781 |
| 2025 | cash and cash equivalents at beginning of period 2025 | $126,968 |
| 2025 | net cash used in investing activities 2025 | -$262,359 |
| 2025 | proceeds from issuance of long-term debt 2025 | $435,000 |
| 2025 | repayments of borrowings under revolving credit facilities 2025 | -$405,000 |
| 2025 | distributions to noncontrolling interest 2025 | -$763 |
| 2025 | operating cash flow change in accrued expenses 2025 | -$75,911 |
| 2025 | operating cash flow change in trade and other accounts receivable, net 2025 | -$21,964 |
| 2025 | operating cash flow change in prepaid expenses and other 2025 | -$791 |
| 2025 | repayments of long-term debt 2025 | -$103,523 |
| 2025 | net decrease in cash and cash equivalents 2025 | -$37,828 |
| 2025 | operating cash flow change in inventories 2025 | -$4,367 |
| 2025 | repurchase of common stock 2025 | -$7,814 |
| 2025 | operating cash flow change in operating lease assets and liabilities 2025 | $11,302 |
| 2025 | operating cash flow change in accounts payable 2025 | -$41,223 |
| 2025 | operating cash flow change in deposits and other 2025 | $970 |
| 2025 | issuance of subsidiary common stock 2025 | $2,147 |
| 2025 | acquisition of warrants 2025 | -$9,084 |
| 2025 | additions to property and equipment 2025 | -$262,691 |
| 2025 | proceeds from structured payables 2025 | $96,719 |
| 2025 | cash and cash equivalents at end of period 2025 | $89,140 |
| 2025 | prepaid expenses and other 2025 | $48,115 |
| 2025 | inventories 2025 | $58,064 |
| 2025 | trademarks, net 2025 | $4,157,500 |
| 2025 | trade accounts receivable, net 2025 | $64,300 |
| 2025 | property and equipment, net 2025 | $1,026,302 |
| 2025 | deposits and other 2025 | $28,668 |
| 2025 | other accounts receivable 2025 | $106,051 |
| 2025 | goodwill 2025 | $4,200,276 |
| 2025 | total other assets 2025 | $8,616,656 |
| 2025 | other intangible assets, net 2025 | $230,212 |
| 2025 | total current assets 2025 | $365,670 |
| 2025 | accounts payable 2025 | $106,192 |
| 2025 | total assets 2025 | $11,289,991 |
| 2025 | net incomeMore than one value recorded for this year — open the FDD source before comparing | -$435,703 |
| 2025 | depreciation and amortization 2025More than one value recorded for this year — open the FDD source before comparing | $253,834 |
| 2025 | net cash provided by operating activities 2025 | $323,532 |
| 2025 | operating cash flow change in other long-term liabilities 2025 | $9,001 |
| 2025 | proceeds from disposal of property and equipment 2025 | $332 |
| 2025 | cash and cash equivalents 2025 | $89,140 |
| 2025 | payments on structured payables 2025 | -$133,273 |
| 2025 | acquisitions of noncontrolling interest and puttable common shares 2025 | -$123,468 |
| 2025 | payment of debt issuance costs 2025 | -$4,942 |
| 2025 | proceeds from borrowings under revolving credit facilities 2025 | $155,000 |
| 2025 | accrued expenses 2025 | $531,656 |
| 2025 | total liabilities, mezzanine equity and stockholders' equity 2025 | $11,289,991 |
| 2025 | bakery-cafe sales, net 2025 | $3,936,664 |
| 2025 | manufacturing and other product sales 2025 | $347,300 |
| 2025 | labor 2025 | $1,175,304 |
| 2025 | other operating expenses 2025 | $699,073 |
| 2025 | occupancy 2025 | $341,449 |
| 2025 | cost of food and paper products 2025 | $1,028,996 |
| 2025 | total bakery-cafe expenses 2025 | $3,244,822 |
| 2025 | depreciation and amortization 2025More than one value recorded for this year — open the FDD source before comparing | $253,834 |
| 2025 | general and administrative expenses 2025 | $393,912 |
| 2025 | franchise it and other expenses 2025 | $36,942 |
| 2025 | franchise advertising expenses 2025 | $108,670 |
| 2025 | goodwill and trademark impairment 2025More than one value recorded for this year — open the FDD source before comparing | $568,893 |
| 2025 | pre-opening expenses 2025 | $13,858 |
| 2025 | total costs and expenses 2025 | $4,882,835 |
| 2025 | operating profit | -$269,154 |
| 2025 | interest expense, net 2025 | $136,411 |
| 2025 | net incomeMore than one value recorded for this year — open the FDD source before comparing | -$435,703 |
| 2025 | diluted 2025More than one value recorded for this year — open the FDD source before comparing | -$8 |
| 2025 | net income attributable to noncontrolling interest 2025 | $1,894 |
| 2025 | operating lease liabilities - current 2025 | $212,762 |
| 2025 | operating lease liabilities - non-current 2025 | $1,185,468 |
| 2025 | other | $21,677 |
| 2025 | long-term debt 2025 | $2,384,661 |
| 2025 | income taxes | $8,461 |
| 2025 | basic 2025More than one value recorded for this year — open the FDD source before comparing | -$8 |
| 2025 | basic 2025More than one value recorded for this year — open the FDD source before comparing | $51,542 |
| 2025 | total current liabilities 2025 | $1,537,917 |
| 2025 | deferred income taxes 2025More than one value recorded for this year — open the FDD source before comparing | $1,051,421 |
| 2025 | other long-term liabilities 2025 | $196,128 |
| 2025 | total liabilities 2025 | $6,355,595 |
| 2025 | redeemable noncontrolling interest and puttable common shares 2025 | $170,956 |
| 2025 | retained earnings | -$378,103 |
| 2025 | stockholders' equity 2025 | $4,760,576 |
| 2025 | accumulated other comprehensive income | -$2,401 |
| 2025 | noncontrolling interest 2025 | $2,864 |
| 2025 | total stockholders' equity 2025 | $4,763,440 |
| 2025 | manufacturing and other product cost of sales 2025 | $261,904 |
| 2025 | diluted 2025More than one value recorded for this year — open the FDD source before comparing | $51,542 |
| 2025 | warrant liability - current 2025 | $578,098 |
| 2025 | current portion of long-term debt 2025 | $96,021 |
| 2025 | income | -$427,242 |
| 2025 | net cash used in financing activities 2025 | -$99,001 |
| 2024 | net incomeMore than one value recorded for this year — open the FDD source before comparing | $133,636 |
| 2024 | stock-based compensation expense 2024 | $41,192 |
| 2024 | goodwill and trademark impairment 2024More than one value recorded for this year — open the FDD source before comparing | $158,515 |
| 2024 | change in fair value of warrant liabilities 2024 | -$189,867 |
| 2024 | other 2024 | -$21,292 |
| 2024 | depreciation and amortization 2024More than one value recorded for this year — open the FDD source before comparing | $251,646 |
| 2024 | deferred income taxes 2024More than one value recorded for this year — open the FDD source before comparing | -$15,314 |
| 2024 | structured payables 2024 | $49,742 |
| 2024 | franchise advertising 2024 | $98,312 |
| 2024 | manufacturing and other product sales 2024 | $412,041 |
| 2024 | accumulated other comprehensive income | $19,123 |
| 2024 | noncontrolling interest 2024 | $2,922 |
| 2024 | net cash provided by operating activities 2024 | $406,817 |
| 2024 | proceeds from structured payables 2024 | $187,857 |
| 2024 | operating cash flow change in trade and other accounts receivable, net 2024 | $29,258 |
| 2024 | operating cash flow change in prepaid expenses and other 2024 | -$1,255 |
| 2024 | operating cash flow change in inventories 2024 | $2,052 |
| 2024 | operating cash flow change in operating lease assets and liabilities 2024 | -$6,600 |
| 2024 | net cash used in investing activities 2024 | -$75,443 |
| 2024 | operating cash flow change in accrued expenses 2024 | $41,248 |
| 2024 | proceeds from the divestiture of certain operations 2024 | $211,530 |
| 2024 | proceeds from issuance of long-term debt 2024 | $1,367 |
| 2024 | acquisitions of noncontrolling interest and puttable common shares 2024 | -$31,028 |
| 2024 | repurchase of common stock 2024 | -$231 |
| 2024 | operating cash flow change in accounts payable 2024 | -$71,715 |
| 2024 | operating cash flow change in deposits and other 2024 | -$1,499 |
| 2024 | payment of debt issuance costs 2024 | -$694 |
| 2024 | additions to property and equipment 2024 | -$283,013 |
| 2024 | net decrease in cash and cash equivalents 2024 | -$6,577 |
| 2024 | issuance of subsidiary common stock 2024 | $2,283 |
| 2024 | repayments of long-term debt 2024 | -$103,324 |
| 2024 | cash and cash equivalents at beginning of period 2024 | $133,545 |
| 2024 | issuance of common stock 2024 | $231 |
| 2024 | distributions to noncontrolling interest 2024 | -$931 |
| 2024 | cash and cash equivalents at end of period 2024 | $126,968 |
| 2024 | net cash used in financing activities 2024 | -$337,951 |
| 2024 | total assets 2024 | $11,839,590 |
| 2024 | accounts payable 2024 | $144,926 |
| 2024 | trademarks, net 2024 | $4,232,500 |
| 2024 | total other assets 2024 | $9,198,048 |
| 2024 | inventories 2024 | $53,697 |
| 2024 | trade accounts receivable, net 2024 | $62,359 |
| 2024 | property and equipment, net 2024 | $1,001,824 |
| 2024 | deposits and other 2024 | $25,976 |
| 2024 | other accounts receivable 2024 | $92,608 |
| 2024 | goodwill 2024 | $4,694,183 |
| 2024 | prepaid expenses and other 2024 | $47,727 |
| 2024 | other intangible assets, net 2024 | $245,389 |
| 2024 | total current assets 2024 | $383,359 |
| 2024 | operating cash flow change in other long-term liabilities 2024 | $56,812 |
| 2024 | acquisitions, net of cash acquired 2024 | -$3,960 |
| 2024 | cash and cash equivalents 2024 | $126,968 |
| 2024 | payments on structured payables 2024 | -$383,481 |
| 2024 | proceeds from borrowings under revolving credit facilities 2024 | $210,000 |
| 2024 | repayments of borrowings under revolving credit facilities 2024 | -$220,000 |
| 2024 | bakery-cafe sales, net 2024 | $3,958,218 |
| 2024 | total liabilities, mezzanine equity and stockholders' equity 2024 | $11,839,590 |
| 2024 | total stockholders' equity 2024 | $5,222,691 |
| 2024 | franchise royalties, it and other fees 2024 | $225,583 |
| 2024 | total revenues 2024 | $4,694,154 |
| 2024 | labor 2024 | $1,218,477 |
| 2024 | franchise it and other expenses 2024 | $38,524 |
| 2024 | cost of food and paper products 2024 | $1,044,819 |
| 2024 | occupancy 2024 | $327,319 |
| 2024 | depreciation and amortization 2024More than one value recorded for this year — open the FDD source before comparing | $251,646 |
| 2024 | other operating expenses 2024 | $683,233 |
| 2024 | manufacturing and other product cost of sales 2024 | $321,863 |
| 2024 | total bakery-cafe expenses 2024 | $3,273,848 |
| 2024 | franchise advertising expenses 2024 | $98,312 |
| 2024 | general and administrative expenses 2024 | $433,368 |
| 2024 | goodwill and trademark impairment 2024More than one value recorded for this year — open the FDD source before comparing | $158,515 |
| 2024 | pre-opening expenses 2024 | $12,986 |
| 2024 | total costs and expenses 2024 | $4,589,062 |
| 2024 | interest expense, net 2024 | $124,925 |
| 2024 | diluted 2024More than one value recorded for this year — open the FDD source before comparing | -$1 |
| 2024 | income taxes | $33,400 |
| 2024 | basic 2024More than one value recorded for this year — open the FDD source before comparing | $2 |
| 2024 | net incomeMore than one value recorded for this year — open the FDD source before comparing | $133,636 |
| 2024 | operating lease liabilities - non-current 2024 | $1,155,919 |
| 2024 | basic 2024More than one value recorded for this year — open the FDD source before comparing | $51,780 |
| 2024 | accrued expenses 2024 | $638,451 |
| 2024 | total current liabilities 2024 | $1,126,326 |
| 2024 | income | $167,036 |
| 2024 | net income attributable to noncontrolling interest 2024 | $2,986 |
| 2024 | operating lease liabilities - current 2024 | $195,132 |
| 2024 | diluted 2024More than one value recorded for this year — open the FDD source before comparing | $55,725 |
| 2024 | deferred income taxes 2024More than one value recorded for this year — open the FDD source before comparing | $1,062,459 |
| 2024 | long-term debt 2024 | $2,300,174 |
| 2024 | warrant liability - non-current 2024 | $567,885 |
| 2024 | total liabilities 2024 | $6,400,591 |
| 2024 | other long-term liabilities 2024 | $187,828 |
| 2024 | redeemable noncontrolling interest and puttable common shares 2024 | $216,308 |
| 2024 | stockholders' equity 2024 | $5,219,769 |
| 2024 | additional paid-in capital 2024 | $5,148,649 |
| 2024 | retained earnings | $59,494 |
| 2024 | other | -$186,869 |
| 2024 | current portion of long-term debt 2024 | $98,075 |
| 2024 | operating profit | $105,092 |
| 2023 | change in fair value of warrant liabilities 2023 | $3,459 |
| 2023 | depreciation and amortization 2023More than one value recorded for this year — open the FDD source before comparing | $226,202 |
| 2023 | stock-based compensation expense 2023 | $32,025 |
| 2023 | deferred income taxes 2023 | $17,234 |
| 2023 | total costs and expenses 2023 | $4,570,126 |
| 2023 | cash and cash equivalents at end of period 2023 | $133,545 |
| 2023 | proceeds from sale-leaseback transactions 2023 | $3,430 |
| 2023 | dividends 2023 | -$89,957 |
| 2023 | operating cash flow change in accrued expenses 2023 | $26,184 |
| 2023 | operating cash flow change in deposits and other 2023 | $7,431 |
| 2023 | proceeds from the settlement of interest rate swaps 2023 | $70,847 |
| 2023 | operating cash flow change in trade and other accounts receivable, net 2023 | -$13,221 |
| 2023 | operating cash flow change in inventories 2023 | -$1,176 |
| 2023 | net cash provided by operating activities 2023 | $479,286 |
| 2023 | repayments of long-term debt 2023 | -$603,068 |
| 2023 | acquisitions of noncontrolling interest and puttable common shares 2023 | -$53,721 |
| 2023 | repurchase of common stock 2023 | -$2,614 |
| 2023 | operating cash flow change in prepaid expenses and other 2023 | -$10,568 |
| 2023 | net cash used in financing activities 2023 | -$350,201 |
| 2023 | operating cash flow change in accounts payable 2023 | $11,423 |
| 2023 | operating cash flow change in operating lease assets and liabilities 2023 | -$3,486 |
| 2023 | proceeds from issuance of long-term debt 2023 | $2,265 |
| 2023 | net cash used in investing activities 2023 | -$198,045 |
| 2023 | issuance of common stock 2023 | $680,983 |
| 2023 | additions to property and equipment 2023 | -$281,236 |
| 2023 | proceeds from refranchisings 2023 | $7,200 |
| 2023 | net decrease in cash and cash equivalents 2023 | -$68,960 |
| 2023 | proceeds from structured payables 2023 | $735,704 |
| 2023 | cash and cash equivalents at beginning of period 2023 | $202,505 |
| 2023 | distributions to noncontrolling interest 2023 | -$929 |
| 2023 | issuance of subsidiary common stock 2023 | $1,981 |
| 2023 | other operating cash-flow reconciliation adjustment 2023 | $4,234 |
| 2023 | net incomeMore than one value recorded for this year — open the FDD source before comparing | $173,114 |
| 2023 | operating cash flow change in other long-term liabilities 2023 | $6,431 |
| 2023 | proceeds from disposal of property and equipment 2023 | $1,714 |
| 2023 | payments on structured payables 2023 | -$860,845 |
| 2023 | repayments of borrowings under revolving credit facilities 2023 | -$160,000 |
| 2023 | bakery-cafe sales, net 2023 | $4,101,308 |
| 2023 | franchise royalties, it and other fees 2023 | $232,665 |
| 2023 | franchise advertising 2023 | $117,905 |
| 2023 | total revenues 2023 | $4,952,190 |
| 2023 | other operating expenses 2023 | $701,774 |
| 2023 | cost of food and paper products 2023 | $1,138,000 |
| 2023 | occupancy 2023 | $312,977 |
| 2023 | labor 2023 | $1,209,714 |
| 2023 | franchise advertising expenses 2023 | $117,966 |
| 2023 | depreciation and amortization 2023More than one value recorded for this year — open the FDD source before comparing | $226,202 |
| 2023 | franchise it and other expenses 2023 | $39,755 |
| 2023 | general and administrative expenses 2023 | $424,641 |
| 2023 | total bakery-cafe expenses 2023 | $3,362,465 |
| 2023 | manufacturing and other product cost of sales 2023 | $389,977 |
| 2023 | pre-opening expenses 2023 | $9,120 |
| 2023 | basic 2023More than one value recorded for this year — open the FDD source before comparing | $3 |
| 2023 | income taxes | $50,121 |
| 2023 | operating profit | $382,064 |
| 2023 | interest expense, net 2023 | $155,399 |
| 2023 | net incomeMore than one value recorded for this year — open the FDD source before comparing | $173,114 |
| 2023 | income | $223,235 |
| 2023 | net income attributable to noncontrolling interest 2023 | $5,003 |
| 2023 | diluted 2023More than one value recorded for this year — open the FDD source before comparing | $54,291 |
| 2023 | diluted 2023More than one value recorded for this year — open the FDD source before comparing | $3 |
| 2023 | basic 2023More than one value recorded for this year — open the FDD source before comparing | $50,317 |
| 2023 | other | $3,430 |
| 2023 | manufacturing and other product sales 2023 | $500,312 |
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
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Owner participation
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Territory language
Litigation disclosure
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Bankruptcy disclosure
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Agreement term
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Reader notes on wording
Our automated check found that these summaries may not match the FDD's exact wording. Read the FDD excerpt itself; it is the authoritative text. Core cost, fee, Item 19 and outlet figures are not affected.
Item 21 · PDF p. 309 · 2026 FDD
Our summary: Proceeds from disposal of property and equipment 2023
“Proceeds from disposal of property and equipment . . . . . . . . . . . . . . . . . . . . . . . . . 332 — 1,714”
Note: The cited value could not be confirmed in the 2023 column on PDF page 309.
Item 21 · PDF p. 309 · 2026 FDD
Our summary: Payments on structured payables 2024
“Payments on structured payables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (133,273) (383,481) (860,845)”
Note: The cited value could not be confirmed in the 2024 column on PDF page 309.
Item 21 · PDF p. 309 · 2026 FDD
Our summary: Payments on structured payables 2025
“Payments on structured payables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (133,273) (383,481) (860,845)”
Note: The cited value could not be confirmed in the 2025 column on PDF page 309.
Item 21 · PDF p. 309 · 2026 FDD
Our summary: Payments on structured payables 2023
“Payments on structured payables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (133,273) (383,481) (860,845)”
Note: The cited value could not be confirmed in the 2023 column on PDF page 309.
Item 21 · PDF p. 309 · 2026 FDD
Our summary: Acquisitions of noncontrolling interest and puttable common shares 2025
“Acquisitions of noncontrolling interest and puttable common shares . . . . . . . . . . . . (123,468) (31,028) (53,721)”
Note: The cited value could not be confirmed in the 2025 column on PDF page 309.
Independent analysis of franchisor-provided data. Not investment advice. Franopolis does not distribute FDDs.