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Panera Bread Franchise FDD, Costs & Fees (2025)

Bakery-cafe franchise offering a menu of soups, salads, sandwiches, and bakery items made with fresh and wholesome ingredients, emphasizing healthier and quality food choices.

Founded in 1993 in Kirkwood, Missouri, Panera Bread has evolved into a leading fast-casual restaurant chain renowned for its freshly baked breads, sandwiches, soups, salads, and specialty beverages.

Headquartered in Sunset Hills, Missouri, the company began franchising in 1993, expanding its presence across the United States and Canada.

Panera Bread distinguishes itself by emphasizing high-quality, clean ingredients and a warm, welcoming dining atmosphere. The brand's commitment to transparency is evident in its clear menu labeling and dedication to removing artificial additives from its offerings.

Initial investment

Here's what you would need to invest if you were to start this franchise. These costs are provided by the franchisor in the Franchise Disclosure Document.

Panera Bread offers 2 types of franchises:

Type of Expenditure Amount
Panera Bread Bakery-Cafe as a “Core” format $1,434,566 to $4,651,324
Panera Bread Bakery-Cafe as a “Small Box” format $1,266,805 to $2,567,601

We are summarizing below the main costs associated with opening a  Panera Bread Bakery-Cafe as a “Core” format.

For more information on the various types of franchises and its costs, refer to the Franchise Disclosure Document (Item 7).

Type of Expenditure Amount
Small Box Core Franchise Fee $35,000
Leasehold Improvements $643,300 to $2,899,506
Equipment $375,459 to $506,706
Optional Technology Systems $100,000 to $132,000
Fixtures $72,170 to $124,254
Furniture $25,643 to $94,617
Consultant Fees $47,000 to $328,000
Supplies & Inventory $21,500 to $29,500
Smallwares $9,600 to $48,000
Signage $19,089 to $101,856
Additional Funds (3 months) $85,805 to $351,885
Total Estimated Initial Investment $1,434,566 to $4,651,324

Panera Bread offers 2 types of franchises:

Type of Expenditure Amount
Panera Bread Bakery-Cafe as a “Core” format $1,434,566 to $4,651,324
Panera Bread Bakery-Cafe as a “Small Box” format $1,266,805 to $2,567,601

We are summarizing below the main costs associated with opening a  Panera Bread Bakery-Cafe as a “Core” format.

For more information on the various types of franchises and its costs, refer to the Franchise Disclosure Document (Item 7).

Type of Expenditure Amount
Small Box Core Franchise Fee $35,000
Leasehold Improvements $643,300 to $2,899,506
Equipment $375,459 to $506,706
Optional Technology Systems $100,000 to $132,000
Fixtures $72,170 to $124,254
Furniture $25,643 to $94,617
Consultant Fees $47,000 to $328,000
Supplies & Inventory $21,500 to $29,500
Smallwares $9,600 to $48,000
Signage $19,089 to $101,856
Additional Funds (3 months) $85,805 to $351,885
Total Estimated Initial Investment $1,434,566 to $4,651,324

Panera Bread

2025

Franchise Disclosure Document

Number of units

Training

The training provided by Panera Bread's franchisor includes a structured and detailed approach to ensure franchisee and personnel readiness. Below are the key aspects of the training program:

  1. Initial Training:
    • The franchisor provides initial training to the franchisee, their Operating Partner, and personnel. This includes classroom and on-the-job training tailored to various roles, such as bakers and managers.
  2. Specialized Programs:
    • Programs include baker training facilitated by certified trainers and market-specific specialists. These programs emphasize hands-on learning and role-specific skills development.
  3. Ongoing Training and Guidance:
    • Franchisees and personnel are required to attend periodic and additional training sessions as deemed necessary by the franchisor. These cover updates to the operating system, quality assurance, and health and safety standards.
  4. Owner and Marketing Orientations:
    • An “Owner’s Orientation” is designed to familiarize the Operating Partner with the Panera system. Additionally, a “Marketing Orientation” is mandatory for designated personnel to align with the brand’s marketing strategies.

Territory Protection

Panera Bread provides limited territory protection to its franchisees. Franchisees are granted a "Protected Area," within which no other franchisee or franchisor-owned outlet will be established without their consent.

However, this protection does not guarantee exclusivity in all operational channels, as the franchisor retains rights to distribute products or services through other means, such as catering or delivery, within designated boundaries.

Despite this, competition from the franchisor or other franchisees may still occur within the broader region. The Protected Area's boundaries can only be adjusted with mutual agreement, ensuring some level of operational security for the franchisee.

Competitors

Below are some of

Panera Bread

key competitors in the

Baked Goods

sector.

Franchise
Franchisees
Initial fee
Total investment
Revenue
Sign up
Gross Profit
Sign up
EBITDA
Sign up

1105

New
+
1%
1%

$35,000

$1,267,000

$4,651,000

n.a.

$2,596,000

$xxx,xxx

68.7%

xx%

n.a.

12.1%

xx%

n.a.

Competitors

Al Manakeesh

Al Manakeesh is a Middle Eastern bakery-restaurant brand offering manakeesh flatbreads, shawarma, and Lebanese specialties, serving neighborhood diners and families, and known for freshly baked dough, traditional flavors, and casual, counter-service settings that highlight Levantine comfort food.

Franchisees

?

0
+
n.a.
n.a.
Investment

?

$261,000 - $403,000

Golden Krust Caribbean Restaurant

Golden Krust Caribbean Restaurant is a quick‐service franchise offering Caribbean-style patties, rotis, rice dishes and meals, serving diaspora communities and casual diners, and known for signature flavors, cultural brand heritage and growing franchise network.

Franchisees

?

101
+
-6%
-6%
Investment

?

$213,000 - $776,000

MidnighTreats

MidnighTreats is a late-night food-truck or small-format franchise offering waffles, desserts and sweet-snacks on-demand, serving late-night crowds, event patrons, and dessert lovers, and known for mobile flexibility, viral menu appeal and lean startup model.

Franchisees

?

2
+
n.a.
n.a.
Investment

?

$133,000 - $296,000

Schmackary's

Schmackary’s is a gourmet cookie-and‐dessert franchise offering handmade cookies, ice cream sandwiches, and specialty treats, serving dessert lovers and gift buyers, and known for bold flavors, urban brand presence and experiential retail-tainment.

Franchisees

?

0
+
n.a.
n.a.
Investment

?

$267,000 - $657,000

BAGEL BOSS

BAGEL BOSS is a bagel-and-deli franchise offering New York–style bagels, breakfast sandwiches, deli items and coffee, serving morning commuters and families, and known for authentic bagel craft, strong local presence and franchise scalability.

Franchisees

?

18
+
64%
64%
Investment

?

$510,000 - $1,175,000

House of Bread

House of Bread is a bakery-café franchise offering freshly baked artisan breads, pastries, sandwiches and café meals, serving families and casual diners, and known for hand-crafted baking, community-driven brand and multi-stream revenue.

Franchisees

?

5
+
25%
25%
Investment

?

$198,000 - $584,000

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