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

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
Upgrade
Gross Profit
Upgrade
EBITDA
Upgrade

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

American Kolache

American Kolache is a fast-casual bakery franchise offering Texas-style kolaches, savory pastries, and breakfast items, serving early-morning customers and families, and known for handheld convenience, hot-fresh items, and strong regional roots.

Franchisees

?

5
+
400%
400%
Investment

?

$233,000 - $371,000

Manhattan Bagel

Manhattan Bagel is a café and bakery franchise offering bagels, breakfast sandwiches, coffee, deli items, and baked goods, serving morning and daytime patrons, and known for authentic bagels, café atmosphere, and consistent franchise support.

Franchisees

?

68
+
10%
10%
Investment

?

$582,000 - $1,094,000

The Bagel Nook

The Bagel Nook is a café franchise offering fresh-baked bagels, breakfast sandwiches, coffee, and deli items, serving morning commuters and neighborhood patrons, and known for handcrafted goods, local feel, and café ambiance.

Franchisees

?

3
+
200%
200%
Investment

?

$603,000 - $1,165,000

D.P. Dough

D.P. Dough is a late-night restaurant franchise offering overstuffed calzones with dozens of fillings, serving college students and young adults, and known for delivery-focused operations, fun campus culture, and signature made-to-order dough.

Franchisees

?

49
+
-2%
-2%
Investment

?

$121,000 - $360,000

Aunt Millies Bakeries

Aunt Millies Bakeries produces a variety of fresh bread and bakery products, offering high-quality and delicious baked goods for customers to enjoy.

Franchisees

?

154
+
-7%
-7%
Investment

?

$37,000 - $186,000

The Pretzel Twister

The Pretzel Twister serves freshly baked pretzels with a variety of flavors and dips, offering a delicious and satisfying snack option.

Franchisees

?

24
+
-14%
-14%
Investment

?

$122,000 - $339,000