The Honey Baked Ham Co.

    Franchise research report · reviewed 2025 disclosure data

    Reviewed sources

    Honey Baked Ham Co. franchises operate retail stores specializing in hams, turkeys, and other products, with sandwiches, salads, beverages, and additional menu items.

    Headline figures

    The Honey Baked Ham Co. quick facts

    Is The Honey Baked Ham Co. a franchise?
    Yes. The Honey Baked Ham Co. offers franchises through a Franchise Disclosure Document. At the end of 2024, it reported 208 franchised and 231 company-owned outlets (2025 FDD, Item 20, PDF p. 48).
    How much does it cost to open a The Honey Baked Ham Co. franchise?
    The The Honey Baked Ham Co. Franchise Disclosure Document reports an estimated initial investment of $581,400–$876,950 (2025 FDD, Item 7, PDF p. 19). This is the franchisor's disclosed estimate, not a quote. Details
    What is the The Honey Baked Ham Co. initial franchise fee?
    The disclosed initial franchise fee for a standard single unit is $15,000 (2025 FDD, Item 5, PDF p. 12). Other fee options (for example multi-unit or conversion) are listed separately in the report. Details
    What ongoing fees does The Honey Baked Ham Co. charge?
    The disclosed ongoing royalty is 6% (2025 FDD, Item 6, PDF p. 12). The brand or advertising fund contribution is 3.25% (2025 FDD, Item 6, PDF p. 13). Other recurring fees are listed in Item 6. Details
    Does The Honey Baked Ham Co. disclose financial performance (Item 19)?
    Yes. The The Honey Baked Ham Co. FDD includes an Item 19 financial performance representation (2025 FDD, Item 19, PDF p. 46). Figures apply only to the locations and period each one covers. Details
    How many The Honey Baked Ham Co. locations are there?
    The FDD reports 439 outlets at the end of 2024 (2025 FDD, Item 20, PDF p. 48). Existing locations do not indicate territory availability. Details
    Is The Honey Baked Ham Co. a good franchise to buy?
    Franopolis does not rate or recommend franchises. From the reviewed FDD: Item 19 includes financial performance figures; check which locations and period they cover; Item 20 lists outlet openings, closures and transfers; Item 6 includes a brand or advertising fund contribution on top of royalty; Item 20 also lists current and former franchisees you can contact. Review the full FDD with a franchise attorney and accountant before deciding.

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

    What the disclosures show

    1. 1Opening costs are estimated at $581,400 – $876,950 in the 2025 FDD (Item 7); several initial fee options apply.
    2. 2Item 19 covers 32 separate groups: revenue for 188 locations; revenue and other measures for 63 locations; revenue and other measures for 62 locations; revenue and other measures for 63 locations; revenue and other measures for 188 locations; other measures and profit and costs for 67 locations; revenue for 175 locations; revenue for 57 locations; revenue for 67 locations; other measures and revenue for 175 locations; other measures for 51 locations; other measures for 57 locations; other measures for 67 locations; revenue and costs for 51 locations; revenue and costs for 57 locations; revenue and costs for 67 locations; revenue and costs and profit and other measures for 175 locations; profit and other measures for 51 locations; profit and other measures for 57 locations; profit and other measures for 67 locations; profit for 175 locations; profit for 51 locations; profit and costs for 57 locations; costs and EBITDA for 67 locations; EBITDA for 175 locations; EBITDA for 51 locations; EBITDA for 57 locations; EBITDA and costs for 51 locations; EBITDA and profit and costs for 57 locations; EBITDA and profit and costs for 67 locations; costs for 175 locations; revenue for 51 locations. They are not combined.
    3. 3Outlets held steady in 2024, to 439 (Systemwide, as labeled in the FDD, Item 20).

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

    The Honey Baked Ham Co. head-to-head

    Closest peers in the same subcategory, side by side from reviewed FDD figures. Not a ranking or recommendation.

    Costs · Items 5–7

    What does it cost to open?

    Estimated opening costs and the fees payable to the franchisor.

    Startup Investment — Item 7

    Total estimated initial investment

    2025 FDD · Item 7 · PDF p. 19

    Standard single-unit franchise fee

    2025 FDD · Item 5 · PDF p. 12
    Discounted and multi-unit options are separate; see all fees.

    Ongoing Fees — Item 6

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

    RoyaltyMain ongoing fee

    38 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?

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

    188 locations

    Revenue · 188 locations

    Who is counted
    All Stores in Table 1: franchised HoneyBaked Stores open at least three years during September 28, 2021 to September 29, 2024
    Excluded
    Excludes 9 franchised stores opened during the Three Year Reporting Period, 12 temporarily closed, 7 permanently closed, and 7 acquired by an affiliate during that period.
    Method
    Sales reports received from CMS Point-of-Sale system; not audited or verified

    These groups are never combined.

    Outlet Changes — Item 20

    How has the outlet count changed?

    Systemwide, as labeled in the FDD · counts as of Fiscal year end of each year.

    2025 FDD · Item 20 · PDF p. 48

    Net −1 outlets, 2022–2024

    0440202243920234392024−10

    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 2024 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 2025 Item 7 estimate ($581,400 – $876,950) 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 439 to 439 in 2024. 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 (2025 FDD)

    1. [1]Estimated initial investment — Item 7 · PDF p. 19
    2. [2]Standard initial franchise fee — Item 5 · PDF p. 12
    3. [3]Item 19 — Locations counted not stated in the reviewed record — All Stores in Table 1: franchised HoneyBaked Stores open at least three years d… · PDF p. 46
    4. [4]Item 19 — Locations counted not stated in the reviewed record — Top Third of franchised HoneyBaked Stores open at least three years during Sept… · PDF p. 46
    5. [5]Item 19 — Locations counted not stated in the reviewed record — Middle Third of franchised HoneyBaked Stores open at least three years during S… · PDF p. 46
    6. [6]Item 19 — Locations counted not stated in the reviewed record — Bottom Third of franchised HoneyBaked Stores open at least three years during S… · PDF p. 46
    7. [7]Item 19 — Locations counted not stated in the reviewed record — All Stores of franchised HoneyBaked Stores open at least three years during Sep… · PDF p. 46
    8. [8]Item 19 — Locations counted not stated in the reviewed record — Franchised HoneyBaked stores open throughout calendar 2023 and providing standa… · PDF p. 47
    9. [9]Item 19 — Locations counted not stated in the reviewed record — Franchised HoneyBaked Stores open all calendar year 2023 and submitting year-en… · PDF p. 47
    10. [10]Item 19 — Locations counted not stated in the reviewed record — Franchised HoneyBaked Stores open the entire 2023 calendar year and providing y… · PDF p. 47
    11. [11]Item 19 — Locations counted not stated in the reviewed record — Franchised HoneyBaked Stores open the entire 2023 calendar year and providing y… · PDF p. 47
    12. [12]Item 19 — Locations counted not stated in the reviewed record — Franchised HoneyBaked Stores open throughout calendar year 2023 and supplying s… · PDF p. 47
    13. [13]Item 19 — Locations counted not stated in the reviewed record — Franchised HoneyBaked Stores open throughout calendar year 2023 and supplying s… · PDF p. 47
    14. [14]Item 19 — Locations counted not stated in the reviewed record — Franchised HoneyBaked Stores open throughout calendar year 2023 and supplying s… · PDF p. 47
    15. [15]Item 19 — Locations counted not stated in the reviewed record — Franchised HoneyBaked Stores open throughout calendar year 2023 and supplying s… · PDF p. 47
    16. [16]Item 19 — Locations counted not stated in the reviewed record — Franchised HoneyBaked stores open throughout calendar 2023 and providing standa… · PDF p. 47
    17. [17]Item 19 — Locations counted not stated in the reviewed record — Franchised HoneyBaked stores open throughout calendar 2023 and providing standa… · PDF p. 47
    18. [18]Item 19 — Locations counted not stated in the reviewed record — Franchised HoneyBaked stores open throughout calendar 2023 and providing standa… · PDF p. 47
    19. [19]Item 19 — Locations counted not stated in the reviewed record — Franchised HoneyBaked stores open throughout calendar 2023 and providing standa… · PDF p. 47
    20. [20]Item 19 — Locations counted not stated in the reviewed record — Franchised HoneyBaked stores open throughout calendar 2023 and providing standa… · PDF p. 47
    21. [21]Item 19 — Locations counted not stated in the reviewed record — Franchised HoneyBaked stores open throughout calendar 2023 and providing standa… · PDF p. 47
    22. [22]Item 19 — Locations counted not stated in the reviewed record — Franchised HoneyBaked stores open throughout calendar 2023 and providing standa… · PDF p. 47
    23. [23]Item 19 — Locations counted not stated in the reviewed record — Franchised HoneyBaked stores open throughout calendar 2023 and providing standa… · PDF p. 47
    24. [24]Item 19 — Locations counted not stated in the reviewed record — Franchised HoneyBaked stores open throughout calendar 2023 and providing standa… · PDF p. 47
    25. [25]Item 19 — Locations counted not stated in the reviewed record — Franchised HoneyBaked stores open throughout calendar 2023 and providing standa… · PDF p. 47
    26. [26]Item 19 — Locations counted not stated in the reviewed record — Franchised HoneyBaked stores open throughout calendar 2023 and providing standa… · PDF p. 47
    27. [27]Item 19 — Locations counted not stated in the reviewed record — Franchised HoneyBaked stores open throughout calendar 2023 and providing standa… · PDF p. 47
    28. [28]Item 19 — Locations counted not stated in the reviewed record — Franchised HoneyBaked stores open throughout calendar 2023 and providing standa… · PDF p. 47
    29. [29]Item 19 — Locations counted not stated in the reviewed record — Franchised HoneyBaked stores open throughout calendar 2023 and providing standa… · PDF p. 47
    30. [30]Item 19 — Locations counted not stated in the reviewed record — HoneyBaked franchised stores open for all of calendar 2023, submitting standard… · PDF p. 47
    31. [31]Item 19 — Locations counted not stated in the reviewed record — HoneyBaked franchised stores open for all of calendar 2023, submitting standard… · PDF p. 47
    32. [32]Item 19 — Locations counted not stated in the reviewed record — HoneyBaked franchised stores open for all of calendar 2023, submitting standard… · PDF p. 47
    33. [33]Item 19 — Locations counted not stated in the reviewed record — HoneyBaked franchised stores open for all of calendar 2023, submitting standard… · PDF p. 47
    34. [34]Item 19 — Locations counted not stated in the reviewed record — Franchised HoneyBaked Stores open all of calendar year 2023 and providing year-… · PDF p. 47
    35. [35]Outlet counts — Item 20, Table 1 · PDF p. 48

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

    Territory & operations

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

    Franchisor financial statements

    Fiscal yearMeasureReported value
    2024statements of cash flows 2024More than one value recorded for this year — open the FDD source before comparing$2,410
    2024statements of income 2024More than one value recorded for this year — open the FDD source before comparing$315
    2024statements of income 2024More than one value recorded for this year — open the FDD source before comparing$175
    2024balance sheets 2024More than one value recorded for this year — open the FDD source before comparing$51,109
    2024statements of member’s equityMore than one value recorded for this year — open the FDD source before comparing$49,134
    2024statements of cash flows 2024More than one value recorded for this year — open the FDD source before comparing$53
    2024balance sheets 2024More than one value recorded for this year — open the FDD source before comparing$44,782
    2024balance sheets 2024More than one value recorded for this year — open the FDD source before comparing$43,165
    2024balance sheets 2024More than one value recorded for this year — open the FDD source before comparing$279
    2024balance sheets 2024More than one value recorded for this year — open the FDD source before comparing$1,975
    2024balance sheets 2024More than one value recorded for this year — open the FDD source before comparing$49,134
    2024statements of income 2024More than one value recorded for this year — open the FDD source before comparing$22,187

    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.

    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.

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