Crave Cookies Franchise Cost, Revenue & Review 2026
- Investment
- $328K – $705K
- Disclosed sales
- partial, no system average
- SBA charge-off
- Limited · 13 loans
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Crave Cookies is a quick-service franchise selling oversized gourmet cookies in rotating weekly flavors. Franchisees run the shops, managing baking, staffing, and takeout, pickup, and delivery.
FranchiseVerdict summary · 2026
A Crave Cookies franchise requires a total initial investment of $328K – $705K, including a $40K franchise fee and an ongoing 6.0% royalty[2]. The 2025 FDD on file does not yield a unit-revenue figure we can publish. FranchiseVerdict grade: B (Above average), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: 2025 filing · Data extracted: · Last cited check: · Staleness risk: medium - a newer filing may exist
Evidence: strong✓ Investment (Item 7)✓ Item 19 status✓ Units and owners (Item 20)✓ SBA loan coverage✓ Litigation (Item 3)✓ Financial statements (Item 21)✓ Franchisor identityhow this is scored6 of 6 headline figures on this page cite a page of the filing.
Overview
- Investment
- $328K – $705K
- 53rd pct Service Resta…
- Avg gross sales
- N/A
- Royalty
- 6.0%
- 48th pct Service Resta…
- Units
- 37
- 60th pct Service Resta…
- SBA charge-off
- N/A
Quick verdict · Quick-Service Restaurants · color = vs category peers
Green = favorable by >10% vs Quick-Service Restaurants median · No shading = within ±10% · Red = unfavorable by >10% · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Bottom line
- COSTTotal investment $328K – $705K including a $40K franchise fee, 6.0% ongoing royalty.
- RETURNSItem 19 reports outlet revenue, but not in a form that yields a per-outlet average we can compare across brands.
- RISKVerdict B (Above average), verdict score 56/100 (higher is better).
- GROWTHNegative, pipeline stalled: 84 agreements signed but not yet open against 37 open outlets (Item 20).
- GROWTHSystem growing at 337.5% CAGR over 3 years with 37 total units. Strong expansion trajectory.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Crave Cookies Franchising, LLC
- CEO title
- Chief Operations Officer
- Becky English
- CEO experience
- 1 yr
- Years in role or industry
- Incorporated in
- UT
- HQ
- 2949 Oak Park Lane, Holladay, UT 84117
- Auditor
- Mellor & Associates, PLLC
- Audited financials
- Franchisor revenue
- $2.4M
- vs $1.3M prior year
Overview
About
- CEO
- Becky English
- Headquarters
- UT
- Founded
- 2019
- FDD year
- 2025
- States available
- 16
Can you afford it, and what does the money buy?
Entry cost is about typical for a quick-service restaurants franchise (near the category median).
Source: FDD 2025 · Items 5–7
FDD Item 7 · 2025 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $40K | $40K |
| Working capital (3–6 mo) | $15K | $30K |
| Equipment, build-out, other | $273K | $635K |
| Total initial investment | $328K | $705K |
Source: Crave Cookies 2025 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $328K – $705K
- Middle of category vs category
- Liquid capital req'd
- $15K – $30K
- Top 40% of category vs category
- Franchise fee
- $40K – $40K
- Middle of category vs category
- Royalty
- 6.0%
- typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 8.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 6.0% of gross sales |
| Marketing / ad fund | 2.0% of gross sales |
| Technology fee | $250 |
| Training fee | $250 |
| Transfer fee | $10K |
| Inventory (initial) | $5K – $10K |
| Total fee load | 8.0% of rev |
What do units actually make?
Source: FDD 2025 · Item 19
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
No Item 19 revenue figure for Crave Cookies is on file. The return models need a revenue figure to start from, and the operating costs that turn gross sales into a profit are in no FDD. Enter your own and the calculator runs on your assumptions — nothing here is modelled until you do.
Returns model · single-unit ROIC
What would one Crave Cookies unit return on the cash you put in?
Illustrative category typicals — not sourced to any filing, survey or sample. Replace them with figures from franchisee validation calls before you rely on the output.
Unlevered ROIC · per unit
Your modelled return on total invested capital, before any debt financing.
—
An FDD discloses gross sales, not profit. We hold no sourced figure for annual revenue, COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
These models are for research and scenario planning only. Not investment advice. Actual results depend on your specific location, management, and market conditions. Consult a franchise attorney and accountant before signing any franchise agreement.
Item 19 · Source: 2025 FDD
Financial Performance
- Item 19 type
- gross sales range
- Sample size
- 6
- vs category median 19 · small
- Range (low → high)
- $519K→$1.3MCited, not corroborated — printed on page 40 of the 2025 FDD. Nothing else in our record independently restates or re-derives it.
- Cohort dispersion (min → max)
- Reporting year
- 2025
- Fiscal year the figures cover
- Source filing
- FDD 2025
- The FDD edition these figures were read from
Compared against 781 Quick-Service Restaurants brands
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Fee burden
Total ongoing fee load of 8.0% (near the Quick-Service Restaurants median).
Disclosure
Item 19 reports outlet revenue, but not in a form that yields a per-outlet average we can compare across brands.
Operator retention
System expanding at 337.5% CAGR over 3 years across 37 units — operators are staying and new ones are joining.
Source: FDD Item 19 financial performance representations and publicly filed FDD data. Past performance is not indicative of future results. Verify all figures with the franchisor and current franchisees before making any investment decision.
vs Quick-Service Restaurants medians
How Crave Cookies Compares
Category median of published Quick-Service Restaurants brands that report the figure; the middle half spans the 25th to 75th percentile and n counts the brands behind it. Medians are used because a few very large systems pull an average far from the typical brand. Revenue is disclosed gross sales, not profit.
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 37
- Opened
- 15
- Last reporting year
- Closed
- 1
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 2.7%
- Company-owned
- 2
- Corporate units in the system
- % franchised
- 95%
- vs corporate-owned
- Net growth (3-yr)
- Outlier (see FDD)
- Likely small-sample artifact
- 3-yr CAGR
- Outlier (see FDD)
- Likely small-sample artifact
Last fiscal year · Item 20 exits and transfers
- Terminated
- 0
- Not renewed
- 0
- Signed, not yet open
- 84
- 2.27 per open outlet · Item 20 Table 5
- Projected new
- 43
- Franchisor's next-year forecast
- Transfer rate
- 16.2%
- Owners selling to other franchisees
- Ceased ops
- 2.7%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 13 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator. Not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
Where the owners are · Item 20 owner list
24 current owners across 13 states.
- UT 8
- NV 3
- NJ 2
- WA 2
- AL 1
- CA 1
- FL 1
- GA 1
- ID 1
- LA 1
- OH 1
- OR 1
- +1 more states
Counts only, from the list the franchisor prints in Item 20. Names and phone numbers are for your own due diligence and are not shown here.
Fast growth in a small system. Newer franchisors expanding quickly may not yet have the support infrastructure of larger systems.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 13
- Loan volume
- $4.5M
- Median loan
- $308K
- 50th percentile
- Charge-off rate
- Limited · 13 loans
- Limited SBA coverage: 13 loans, rate hidden until 10 have resolved and loans reach 2% of franchised units
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- Limited · 13 loans
- 5-yr charge-off
- Limited · 13 loans
- Loans approved 2021+
- Active lenders
- 12
- Defaults
- 1
- Typical loan rate
- 10.4%
- avg rate to borrowers
- Franchised industry avg
- 10.0%
- n=806 loans
- Jobs supported
- 168
- 4.0 per loan
- Lender concentration
- 17%
- top lender's share
Borrower mix: 100% went to startups / new businesses, 0% to established operators
Franchise vs independent — in retail bakeries, franchised businesses charge off at 10.0% vs 17.6% for independents — franchising is associated with 43% lower SBA default risk in this category.
Top lenders financing Crave Cookies franchisees
Showing 3 of 12 lenders. The full breakdown — every lender, state distribution, interest rates & risk ratings — is in the SBA Lending Report below.
Explore lender portfolios on Bank Reports or regional data on State Reports.
Lender network · 7(a) + 504
SBA Lending Report
Full lending analysis for Crave Cookies from SBA 7(a) FOIA data.
- Principal loss rate
- 5.6%
- Avg SBA guarantee
- 75%
- Avg interest rate
- 10.38%
- Avg chargeoff amount
- $232K
- Lender concentration
- 16.7%
- Job velocity
- 4.0 per $100K
- NAICS benchmark
- 1.2%
- NAICS 311811
- Jobs supported
- 168
Top SBA lendersTop lender holds 17% of loans
| # | Lender | Loans | Volume | Default % |
|---|---|---|---|---|
| 1 | Gulf Coast Bank and Trust Company | 2 | $717K | N/A |
| 2 | The Bank of Houston | 1 | $462K | N/A |
| 3 | Merchants Bank of Indiana | 1 | $298K | N/A |
| 4 | Stearns Bank National Association | 1 | $244K | N/A |
| 5 | DreamSpring | 1 | $300K | N/A |
| 6 | Valley National Bank | 1 | $469K | N/A |
| 7 | Central Bank | 1 | $235K | 0.0% |
| 8 | Capital Community Bank | 1 | $297K | 100.0% |
| 9 | Sunshine State Economic Development Corporation | 1 | $315K | N/A |
| 10 | Canyon View Federal Credit Union | 1 | $350K | N/A |
Geographic failure vector
| State | Loans | Defaults | Rate |
|---|---|---|---|
| FLFlorida | 4 | 0 | -- |
| UTUtah | 4 | 1 | 50.0% |
| AZArizona | 1 | 0 | -- |
| ILIllinois | 1 | 0 | -- |
| NJNew Jersey | 1 | 0 | -- |
| TXTexas | 1 | 0 | -- |
SBA 7(a) lending trend
Borrower profile
Source: SBA 7(a) + 504 FOIA loan-level data, matched by FranchiseVerdict
What could kill this investment?
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Litigation (Item 3)
Subject: the franchisor is a named party (defendant).
1 pending (Crave Cookies LLC v. D&G Ownership Group, arbitration, Feb 2025, settlement negotiations); 1 prior (Crave Cookies LLC v. Boman Cookies, arbitration, found in favor of Crave); 1 prior (Crumbl LLC v. Crave Cookies, D. Utah 2022, dismissed by stipulated motion)
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Mellor & Associates, PLLC
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
During 2024, the Company had total revenues of $2,413,050 of which $1,277,704 are considered deferred until the company fulfills its obligations. Detailed audited balance sheet and income statement tables in Exhibit F are image-based and not extractable from text.
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: Yes
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: Yes
Score breakdown · what drove the 56 / 100 verdict
- 01MEDNo Item 19 financial disclosures (Avg Revenue and Net Income not disclosed) prevents ROI validation and comparability across units
- 02MINORPending arbitration with D&G Ownership Group suggests current franchisee disputes; outcome and nature of claims unknown
- 03MED67% YoY unit growth appears strong but absolute unit count of 37 indicates early-stage system with limited operational track record and higher failure risk
- 04MEDHigh initial investment range ($327k–$704k) with undisclosed profitability creates misalignment between capital required and potential returns
- 05HIGHTwo litigation cases (one pending, one won by franchisor) indicate franchisee-franchisor relationship friction despite small unit base
- 06MINOR6% royalty on unreported gross sales lacks benchmarking; unclear if sustainable given unknown unit economics
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 8.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2025 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 1 |
| Territory type | Protected territory |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory radius | 5 mi |
| Territory population | 87,500 |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 5 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | No |
| Arbitration location | Utah |
| Jury trial waiver | Yes |
| Governing law | UT |
| Litigation count | 3 |
View Item 3 litigation summary
1 pending (Crave Cookies LLC v. D&G Ownership Group, arbitration, Feb 2025, settlement negotiations); 1 prior (Crave Cookies LLC v. Boman Cookies, arbitration, found in favor of Crave); 1 prior (Crumbl LLC v. Crave Cookies, D. Utah 2022, dismissed by stipulated motion)
Items 10, 11
Training & Operations
- Classroom training
- 31 hrs
- On-the-job training
- 42 hrs
- Training location
- Holladay, UT or franchisee location or virtual
- Ongoing training
- Optional
- Time to open
- 4 mo
- From signing to launch
- Site selection
- Franchisee selects, franchisor approves
- Franchisor financing
- Not offered
- Item 10
- POS system
- Square POS
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Square POS
Item 20 · call current owners
Franchisee Contacts
24 owners to call
Name · phone · city · state. Extracted from FDD Item 20
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Crave Cookies franchise?
The total investment to open a Crave Cookies franchise ranges from $328K – $705K, with an initial franchise fee of $40K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Crave Cookies franchise owners earn?
Item 19 of the Crave Cookies FDD discloses outlet figures from $519K to $1.3M but no single average across all outlets. These are gross sales figures, not profit; the Revenue section shows what the filing reports and on what basis. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Who owns Crave Cookies?
Crave Cookies is franchised by Crave Cookies Franchising, LLC. Source: FDD Item 1, 2025 filing.
What is Item 19 in the Crave Cookies FDD?
The FDD section where a franchisor may disclose financial performance of its outlets. Disclosure is optional and formats vary; figures are typically gross sales, which is revenue before expenses, not profit. FranchiseVerdict extracts these figures directly from the Crave Cookies FDD and qualifies whose outlets they describe.
What is Crave Cookies's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Crave Cookies (fewer than 10 loans on file). Charge-off rates are one way to gauge franchise risk, but not all franchise loans go through the SBA program. We recommend reviewing turnover and closure data in the FDD and speaking with current franchisees.
How many Crave Cookies franchise locations are there?
As of their most recent FDD filing, Crave Cookies has 37 total units in the United States, including 35 franchised units and 2 company-owned units. 15 new units were opened in the latest reporting year.
Is Crave Cookies a good franchise to buy?
FranchiseVerdict rates Crave Cookies as a B-grade franchise with a verdict score of 56 out of 100 (higher is better). The grade is a deterministic score built from six weighted dimensions — financial health, unit economics, unit growth, scale, legal, and transparency — then calibrated against SBA loan charge-off rates and FDD age. Transparency is one of the six, so a filing that discloses less scores lower on that dimension than one that discloses more. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.
Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.
For franchisors
Are you the franchisor?
If you represent Crave Cookies, you can request corrections or provide updated information.
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Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.