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HONEYBAKED HAM AND THE HONEYBAKED HAM AND CAFE CO.
The Honey Baked Ham Co. franchise allows operators to run retail stores specializing in the sale of proprietary specialty hams, turkeys, and other products, along with on-site cafes serving sandwiches, salads, beverages, and approved menu items. The business operates under a standardized system featuring uniform procedures, recipes, building designs, and marketing strategies detailed in the Franchise Operations Manual. It targets consumers seeking premium holiday meats and everyday cafe dining options.
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Franchise Costs
6% royalty + 3.25% ad fund + $152/mo technology + $2,400/yr CMS support + $34/mo cybersource
Financial Performance
Item 19 Financial Performance
Data Based On: 203 franchised stores open during the entire 2024 calendar year and that provided year-end profit and loss statements
* All core metrics (average/median gross revenue, gross profit, net profit (as Store Operating Profit After COGS & Hourly Labor), EBITDA, and EBITDA margin) were extracted directly from the 'All Stores' section of Table 4 for 203 franchised stores for Calendar Year 2024. Revenue top quartile is the average net sales for the 'Stores with Net Sales Greater Than $1,000,000' segment, representing 38.4% of the sample. Revenue bottom quartile is the average net sales for the 'Stores with Net Sales Less Than $700,000' segment, representing 29.5% of the sample. Best guess profit low is based on the reported average EBITDA. Best guess profit high is based on the reported 'Store Operating Profit After COGS & Hourly Labor'.
Extracted Item 19 Section
Avg. Revenue: $961,627
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Unlock financial performance dataHONEYBAKED HAM AND THE HONEYBAKED HAM AND CAFE CO. Franchise Analysis
What if a beloved holiday ham brand could fuel year-round cafe profits in the specialty food niche? Honey Baked Ham's long franchising history and disclosed Item 19 revenue figures offer a tantalizing glimpse into its potential, yet subtle system dynamics raise questions about momentum. Does this established player still have the appetite for aggressive expansion, or is stability the real draw?
Franchising since 1998, Honey Baked Ham has built a mature system with 212 franchise locations alongside 236 corporate stores, reflecting a balanced but deliberate approach. From 208 franchise units in 2024 to 212 in 2025, growth clocked in at a modest +2%, backed by projections for 14 new units and 8 transfers—signs of steady but not explosive health. A single litigation note from a termination dispute with a non-developing franchisee, settled for $100K, appears isolated rather than systemic, suggesting contained risks in franchisee relations.
Financials demand scrutiny: initial investment spans $514,200-$829,600 including a $20,000 franchise fee, with ongoing fees at 6% royalty, 3.2% brand/ad fund, plus $152/month tech, $2,400/year CMS, and $34/month cybersource. Item 19 shines with average gross revenue of $961,627 and median $880,043, but the 0% EBITDA margin flags potential squeeze on profits after expenses—estimated range $106,752-$403,890 hints at variability tied to top performers. For investors eyeing food retail, these numbers signal viable volume in premium meats and cafe sales, though slim margins and slow growth mean only high-traffic sites likely thrive.
Analysis based on the 2026 Franchise Disclosure Document. All figures should be independently verified before making investment decisions.
How HONEYBAKED HAM AND THE HONEYBAKED HAM AND CAFE CO. Compares
Key Insights
- Higher investment than 87% of Specialty Food franchises
- #2 largest franchise system in Specialty Food
| Franchise | Investment | Fee | Royalty | Locations |
|---|---|---|---|---|
HONEYBAKED HAM AND THE HONEYBAKED HAM AND CAFE CO. Current | $514K – $830K | $20K | 6.0% | 212 |
| EDIBLE ARRANGEMENTS | $214K – $587K | $30K | 5.0% | 680 |
| CANTEEN | $9K – $44K | $3K | 5.3% | 100 |
| The Spice & Tea Exchange | $299K – $532K | $39K | 7.0% | 93 |
| GRAZE CRAZE | $167K – $326K | $50K | 6.0% | 89 |
| DOC POPCORN | $175K – $414K | $15K | 6.0% | 79 |
Specialty Food Average 15 franchises | $229K – $480K | $28K | 6.9% | – |
* Comparison based on latest FDD filings. Investment ranges from Item 7, fees from Item 5. Showing top 5 of 15 Specialty Food franchises by location count.
Locations & Growth
Outlet Growth Over Time
Total outlets at end of each year
Geographic Distribution (2025)
Outlets by state across the United States
+21 more states
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Unlock location growth dataFranchisee Contacts
224 franchisee contacts on file from official FDD filings.
224 Contacts Available
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Unlock contactsDue Diligence
Litigation (Item 3)
Termination dispute with a franchisee who failed to develop and open a store despite extensions; settled for $100,000.
Bankruptcy (Item 4)
System Health (Item 20)
Franchise system changes reported in the most recent fiscal year
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Unlock due diligence reportsFrequently Asked Questions
The total initial investment to open a HONEYBAKED HAM AND THE HONEYBAKED HAM AND CAFE CO. franchise ranges from $514,200 to $829,600. This includes a franchise fee of $20,000. Ongoing royalty fees are 6.0% of gross sales.
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