PERKINS AND PERKINS RESTAURANT AND BAKERY

Item 7 in the 2025 FDD lays out a steep entry: $40,000 franchise fee plus $1,443,890 to $3,581,375 total investment for full-service units, covering builds, equipment, and inventory amid resale or non-traditional options like airports. Ongoing fees bite at 4% royalties, 3% ad fund, and $349-$500 monthly tech charges, standard for the sector but pressuring margins on $1,933,346 average gross revenues (median $1,929,925) from Item 19 across existing locations. That near-identical avg/median suggests steady performers without wild outliers, implying solid $1.9M+ top lines for well-run spots, though profitability hinges on 30-35% food costs typical for diners.

System metrics reveal caution flags: total units dropped 5% from 178 in 2023 to 169 in 2024, with 175 franchised and 82 corporate, alongside just 3 terminations, 2 non-renewals, 9 transfers, and 7 projected new units. The 15 SBA loans averaging $885,087 show banks backing operators despite bankruptcy history, pointing to viable financing for qualified buyers. Dig into Item 20 trends, resale values from transfers, and market development pacts to gauge if Perkins' all-day niche can reverse contraction and fuel multi-unit empires.