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    Franchise opportunities compared

    PANERA BREAD BAKERY-CAFE vs Wingstop

    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 FDDWingstop2026 FDD

    Initial investment · Item 7

    PANERA BREAD BAKERY-CAFE

    $1,223,702 – $4,619,880

    2026 FDD · Item 7 · PDF p. 24

    Wingstop

    $310,400 – $1,048,500

    2026 FDD · Item 7 · PDF p. 22

    Initial franchise fee · Item 5

    PANERA BREAD BAKERY-CAFE

    Not available

    Wingstop

    $25,000

    2026 FDD · Item 5 · PDF p. 13

    Royalty · Item 6

    PANERA BREAD BAKERY-CAFE

    Not available

    Wingstop

    6%

    2026 FDD · Item 6 · PDF p. 14

    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, Wingstop: 5). 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

    Wingstop

    $310,400 – $1,048,500
    Total initial investment, excluding real estate
    2026 FDD · Item 7 · PDF p. 22
    Standard initial franchise fee (Item 5)

    PANERA BREAD BAKERY-CAFE

    Not available
    No single standard fee identified

    Wingstop

    $25,000
    2026 FDD · Item 5 · PDF p. 13
    Royalty (Item 6)

    PANERA BREAD BAKERY-CAFE

    Not available
    No reviewed royalty record

    Wingstop

    6%
    Royalty
    2026 FDD · Item 6 · PDF p. 14
    Brand / advertising fund (Item 6)

    PANERA BREAD BAKERY-CAFE

    Not available
    No reviewed brand or advertising fund fee

    Wingstop

    $5,000
    Transfer marketing expenditure
    2026 FDD · Item 6 · PDF p. 19

    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

    Wingstop

    2,586
    Outlets at end of 2025
    2026 FDD · Item 20 · PDF p. 67
    Net outlet change (Item 20)

    PANERA BREAD BAKERY-CAFE

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

    Wingstop

    +660
    Calculated: 1,926 at end of 2023 → 2,586 at end of 2025
    Outlet exits (Item 20)

    PANERA BREAD BAKERY-CAFE

    Not available
    No complete exit records for a year

    Wingstop

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

    PANERA BREAD BAKERY-CAFE

    Not available
    Not in reviewed records

    Wingstop

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

    PANERA BREAD BAKERY-CAFE

    Not available
    Not in reviewed records

    Wingstop

    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
    Wingstop
    Locations counted not stated in the reviewed record — All Wingstop Restaurants in the U.S. open entire 2025 Measured Period, franchis…
    55 restaurants
    other Systemwide WRI-owned count
    2026 FDD · Item 19 · PDF p. 65
    Locations counted not stated in the reviewed record — WRI-owned Wingstop Restaurants open entire 2025 Measured Period
    $4,038,428
    other WRI-owned highest annual net sales
    2026 FDD · Item 19 · PDF p. 66
    Locations counted not stated in the reviewed record — Franchised Wingstop Restaurants open entire 2025 Measured Period
    $1,890,866
    other Franchised median annual net sales
    2026 FDD · Item 19 · PDF p. 65
    +2 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 Wingstop: common questions

    Which costs less to open, PANERA BREAD BAKERY-CAFE or Wingstop?
    PANERA BREAD BAKERY-CAFE: $1,223,702 – $4,619,880 (2026 FDD · Item 7 · PDF p. 24); Wingstop: $310,400 – $1,048,500 (2026 FDD · Item 7 · PDF p. 22). These are each franchisor's Item 7 estimated initial investment. The low end of the disclosed estimate is lower for Wingstop. Estimates are not quotes, and the FDD years may differ.
    Which has more locations, PANERA BREAD BAKERY-CAFE or Wingstop?
    PANERA BREAD BAKERY-CAFE: 2,214 (2026 FDD · Item 20 · PDF p. 65); Wingstop: 2,586 (2026 FDD · Item 20 · PDF p. 67). Total outlets from Item 20. Outlet counts do not indicate territory availability or franchisee results.
    Do PANERA BREAD BAKERY-CAFE and Wingstop disclose financial performance (Item 19)?
    PANERA BREAD BAKERY-CAFE has reviewed Item 19 figures for 3 location groups; Wingstop has reviewed Item 19 figures for 5 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

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    Full PANERA BREAD BAKERY-CAFE report

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

    Full Wingstop report

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

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