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PANERA BREAD BAKERY-CAFÉ
Panera Bread Bakery-Café franchises operate fast-casual restaurants specializing in the retail sale of fresh bakery goods like bagels, breads, muffins, sandwiches, soups, salads, mac & cheese, custom roasted coffees, cafe beverages, and related merchandise in a warm, inviting environment. The business model involves franchising single-unit or area development agreements for multiple bakery-cafes, requiring on-site baking facilities, adherence to the Panera system, and use of designated technology platforms, with options for catering and delivery. They target the general public seeking wholesome, high-quality meals for breakfast, lunch, dinner, chill periods, dine-in, takeout, and off-site services across the US (and Canada via affiliate).
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Franchise Costs
5% royalty + 3.26% NAF + 2% LAF + 0.4% MAF
Financial Performance
Item 19 Financial Performance
Data Based On: 1,077 Franchisee-owned Bakery-Cafes open during the entire fiscal year ending December 26, 2023.
* Franchisee average gross revenue (Net Sales) of $2,803,161 is from Page 1, 'AVERAGE NET SALES' table. Best guess profit range is estimated by applying company-owned unit profit margins to the franchisee average gross revenue. From Page 2 (company-owned data), Net Profit as a percentage of Net Sales was 13.90% ($431,656 / $3,105,144). This was used for the low estimate: $2,803,161 * 0.1390 = $389,676. Company-owned EBITDA as a percentage of Net Sales was 17.37% ($539,332 / $3,105,144). This was used for the high estimate: $2,803,161 * 0.1737 = $486,881.
Extracted Item 19 Section
Avg. Revenue: $2,803,161
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Unlock financial performance dataPANERA BREAD BAKERY-CAFÉ Franchise Analysis
Panera Bread Bakery-Café has carved a niche in fast-casual dining since franchising began over three decades ago, blending fresh-baked goods with a cozy vibe that draws crowds. Item 19 finally pulls back the curtain on franchisee earnings, while system growth metrics reveal a maturing brand navigating corporate dominance. Yet with terminations and transfers in the mix, does this setup promise stability or signal hidden pressures for newcomers?
Franchising since 1993, Panera's system expanded modestly from 1,089 franchised locations in 2022 to 1,112 in 2023—a 2% uptick—amid 1,052 corporate units, totaling over 2,100 bakery-cafés. Projections call for 41 new units, but 45 terminations and 35 transfers raise flags on franchisee retention in a brand where corporate outnumbers independents nearly 1:1. Item 7 details hefty builds: $633,000 minimum to $4,906,000 maximum investment, reflecting on-site baking and tech mandates for single-unit or area deals targeting U.S. urban spots.
Financials shine via Item 19: average gross revenue hits $2,803,161 across units, translating to estimated profits of $389,676-$486,881 after 5% royalties, 3.26% national ad fund, 2% local ad, and 0.4% marketing action fund—total ongoing fees ~10.66%. That $35,000 franchise fee buys into a proven model with catering and delivery upsell potential, but the wide investment range and termination volume underscore execution risks in a competitive fast-casual space dominated by corporate oversight.
Analysis based on the 2024 Franchise Disclosure Document. All figures should be independently verified before making investment decisions.
How PANERA BREAD BAKERY-CAFÉ Compares
Key Insights
- #1 largest franchise system in Coffee & Bakery
| Franchise | Investment | Fee | Royalty | Locations |
|---|---|---|---|---|
PANERA BREAD BAKERY-CAFÉ Current | $633K – $4.9M | $35K | 5.0% | 1,112 |
| SCOOTER'S COFFEE | $1.2M – $1.3M | $40K | 6.0% | 882 |
| NOTHING BUNDT CAKES | $667K – $1.0M | $45K | 6.0% | 643 |
| GREAT AMERICAN COOKIES | $341K – $463K | $25K | 6.0% | 395 |
| 7 BREW | $894K – $2.2M | $35K | 4.5% | 297 |
| TOUS LES JOURS | $731K – $1.7M | $40K | 5.0% | 184 |
Coffee & Bakery Average 39 franchises | $489K – $1.1M | $39K | 5.5% | – |
* Comparison based on latest FDD filings. Investment ranges from Item 7, fees from Item 5. Showing top 5 of 39 Coffee & Bakery franchises by location count.
Locations & Growth
Outlet Growth Over Time
Total outlets at end of each year
Geographic Distribution (2023)
Outlets by state across the United States
+26 more states
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Unlock location growth dataFranchisee Contacts
62 franchisee contacts on file from official FDD filings.
62 Contacts Available
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Unlock contactsDue Diligence
Litigation (Item 3)
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 PANERA BREAD BAKERY-CAFÉ franchise ranges from $633,000 to $4,906,000. This includes a franchise fee of $35,000. Ongoing royalty fees are 5.0% of gross sales.
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