Franopolis
    vs

    Franchise opportunities compared

    PANERA BREAD BAKERY-CAFE vs Papa Murphys

    Reviewed figures from each brand's Franchise Disclosure Document (FDD), side by side. Each figure carries its FDD year and page. This is not a ranking or recommendation, and the two FDDs may cover different years and location groups.

    PANERA BREAD BAKERY-CAFE2026 FDDPapa Murphys2026 FDD

    Initial investment · Item 7

    PANERA BREAD BAKERY-CAFE

    $1,223,702 – $4,619,880

    2026 FDD · Item 7 · PDF p. 24

    Papa Murphys

    $450,330 – $693,450

    2026 FDD · Item 7 · PDF p. 38

    Initial franchise fee · Item 5

    PANERA BREAD BAKERY-CAFE

    Not available

    Papa Murphys

    $25,000

    2026 FDD · Item 5 · PDF p. 27

    Royalty · Item 6

    PANERA BREAD BAKERY-CAFE

    Not available

    Papa Murphys

    Not available

    Before you compare

    • Both sets of figures come from 2026 FDDs.
    • Item 19 figures cover the location groups each FDD names (PANERA BREAD BAKERY-CAFE: 3, Papa Murphys: 4). Different groups are not directly comparable.

    Financial commitment

    Estimated initial investment (Item 7)

    PANERA BREAD BAKERY-CAFE

    $1,223,702 – $4,619,880
    Area Development total initial investment: $1,223,702 to $4,619,880
    2026 FDD · Item 7 · PDF p. 24

    Papa Murphys

    $450,330 – $693,450
    TOTAL ESTIMATED INITIAL INVESTMENT — $450,330 - $693,450
    2026 FDD · Item 7 · PDF p. 38
    Standard initial franchise fee (Item 5)

    PANERA BREAD BAKERY-CAFE

    Not available
    No single standard fee identified

    Papa Murphys

    $25,000
    2026 FDD · Item 5 · PDF p. 27
    Royalty (Item 6)

    PANERA BREAD BAKERY-CAFE

    Not available
    No reviewed royalty record

    Papa Murphys

    Not available
    No reviewed royalty record
    Brand / advertising fund (Item 6)

    PANERA BREAD BAKERY-CAFE

    Not available
    No reviewed brand or advertising fund fee

    Papa Murphys

    Not available
    No reviewed brand or advertising fund fee

    System scale & health

    Total outlets (Item 20)

    PANERA BREAD BAKERY-CAFE

    2,214
    Outlets at end of 2025
    2026 FDD · Item 20 · PDF p. 65

    Papa Murphys

    Not available
    No reviewed outlet counts
    Net outlet change (Item 20)

    PANERA BREAD BAKERY-CAFE

    +63
    Calculated: 2,151 at end of 2023 → 2,214 at end of 2025

    Papa Murphys

    Not available
    Only one year reported
    Outlet exits (Item 20)

    PANERA BREAD BAKERY-CAFE

    Not available
    No complete exit records for a year

    Papa Murphys

    Not available
    No complete exit records for a year
    Franchising since (Item 1)

    PANERA BREAD BAKERY-CAFE

    Not available
    Not in reviewed records

    Papa Murphys

    Not available
    Not in reviewed records
    Franchisor founded (Item 1)

    PANERA BREAD BAKERY-CAFE

    Not available
    Not in reviewed records

    Papa Murphys

    Not available
    Not in reviewed records

    Financial performance (Item 19), by location group

    PANERA BREAD BAKERY-CAFE
    Locations counted not stated in the reviewed record — Company-owned full-year Panera bakery-cafes
    19.3 percent
    other EBITDA 6 percent gross revenues
    2026 FDD · Item 19 · PDF p. 64
    Locations counted not stated in the reviewed record — Franchisee-owned
    $2,541,217
    other Mean net sales
    2026 FDD · Item 19 · PDF p. 63
    Locations counted not stated in the reviewed record — Company-owned
    $2,680,192
    other Mean net sales
    2026 FDD · Item 19 · PDF p. 63
    Papa Murphys
    Locations counted not stated in the reviewed record — All Franchise Stores
    1,015 units
    other All Franchise Stores
    2026 FDD · Item 19 · PDF p. 64
    Locations counted not stated in the reviewed record — Franchise Stores – West
    $2,458,479
    other Franchise Stores – West
    2026 FDD · Item 19 · PDF p. 65
    Locations counted not stated in the reviewed record — Franchise Stores – Central
    381 units
    other Franchise Stores – Central
    2026 FDD · Item 19 · PDF p. 65
    +1 more groups in the full report

    Item 19 groups are shown separately and never combined. Revenue or sales figures are not profit. Net outlet change and turnover are Franopolis calculations from the disclosed counts; turnover is a count-based rate, not a measure of owner earnings.

    PANERA BREAD BAKERY-CAFE vs Papa Murphys: common questions

    Which costs less to open, PANERA BREAD BAKERY-CAFE or Papa Murphys?
    PANERA BREAD BAKERY-CAFE: $1,223,702 – $4,619,880 (2026 FDD · Item 7 · PDF p. 24); Papa Murphys: $450,330 – $693,450 (2026 FDD · Item 7 · PDF p. 38). These are each franchisor's Item 7 estimated initial investment. The low end of the disclosed estimate is lower for Papa Murphys. Estimates are not quotes, and the FDD years may differ.
    Do PANERA BREAD BAKERY-CAFE and Papa Murphys disclose financial performance (Item 19)?
    PANERA BREAD BAKERY-CAFE has reviewed Item 19 figures for 3 location groups; Papa Murphys has reviewed Item 19 figures for 4 location groups. Different location groups are not directly comparable, and revenue is not profit.

    Answers restate the reviewed figures above. Not a ranking or recommendation.

    How Franopolis reviews FDD figures

    Keep researching

    Full PANERA BREAD BAKERY-CAFE report

    Every reviewed fee, Item 19 group, outlet table and territory disclosure

    Full Papa Murphys report

    Every reviewed fee, Item 19 group, outlet table and territory disclosure

    Compare PANERA BREAD BAKERY-CAFE with

    Compare Papa Murphys with

    Add a third brand

    Compare up to four side by side

    Explore by brand

    Filter every published report

    FDD glossary

    Plain-language meaning of each Item