Crumbl CookiesFranchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
FranchiseVerdict summary · 2026
A Crumbl Cookies franchise requires a total initial investment of $348K – $692K, including a $50K franchise fee and an ongoing 8.0% royalty[2]. Per the 2022 FDD, average unit revenue was $1.7M[2]. Verdict grade: A. Run a live ROI scan →
Data last verified June 18, 2026 · figures per the 2022 FDD issuance
Overview
- Investment
- $348K – $692K
- 66th pct Service Resta…
- Avg gross sales
- $1.7M
- 50th pct Service Resta…
- Royalty
- 8.0%
- 82nd pct Service Resta…
- Units
- 327
- 85th pct Service Resta…
- SBA default
- N/A
Quick verdict · Quick-Service Restaurants · color = vs category peers
Green = >15% above Quick-Service Restaurants avg · No shading = within ±15% · Red = >15% below avg · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Each dollar invested generates 3.2x in gross revenue, well above the typical 1.5-2.5x range.
The system grew 131% year-over-year. Fast growth means demand, but can strain support.
69% cash-on-cash return (based on Gross Margin). Above the 20% threshold most investors target.
Bottom line
- Total investment $348K – $692K including a $50K franchise fee, 8.0% ongoing royalty.
- Average unit revenue of $1.7M/year (median $1.6M), with an estimated 69% cash-on-cash return (based on Gross Margin). Note: this is gross profit, not take-home income.
- Verdict A (Top Quintile) with a risk score of 5/100.
- System growing at 503.7% CAGR over 3 years with 327 total units. Strong expansion trajectory.
Item 1 · who you're contracting with
The Franchisor
- Legal entity
- CRUMBL FRANCHISING, LLC
- Parent company
- Crumbl Enterprises LLC
- Incorporated in
- UT
- HQ
- 815 W. University Parkway, Orem, Utah 84058
- Auditor
- Squire & Company, P.C.
- Audited financials
- Franchisor revenue
- $13.4M
- vs $46.6M prior year
Overview
About
Franchisees operate premium cookie retail locations, managing daily production of rotating specialty flavors, point-of-sale operations, staffing, and inventory. Day-to-day responsibilities include food preparation, customer service, marketing execution, and P&L management across a high-traffic, Instagram-driven brand targeting younger demographics.
- CEO
- Jason McGowan
- Headquarters
- UT
- Founded
- 2018
- FDD year
- 2022
- States available
- 43
FDD Item 7 · 2022 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $50K | $50K |
| Working capital (3–6 mo) | $10K | $10K |
| Equipment, build-out, other | $288K | $632K |
| Total initial investment | $348K | $692K |
Source: Crumbl Cookies 2022 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Single-unit · estimated
Returns at a glance
Indicative numbers using FDD Item 7 / Item 19 inputs and category-benchmarked cost ratios. Full single-unit, 25-unit portfolio, and LBO models (with every input editable to stress-test your own scenario) live on the financials page.
Store EBITDA · annual
$203K
12.0% margin
Unlevered ROIC
38%
EBITDA / total invested capital
Payback
31 mo
cash-on-cash, unlevered
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $348K – $692K
- Near category avg vs category
- Liquid capital req'd
- $10K – $10K
- Better than avg vs category
- Franchise fee
- $25K – $50K
- Below avg, review vs category
- Royalty
- 8.0%
- percentage_of_gross · typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 10.0%
- vs 9–13% typical
- Payback period
- 1.5 yrs
- From FDD / Item 19
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 8.0% of gross sales |
| Marketing / ad fund | 2.0% of gross sales |
| Technology fee | $500 |
| Training fee | $8K |
| Transfer fee | $10K |
| Renewal fee | $3K |
| Total fee load | 10.0% of rev |
Financial Performance
- Avg gross sales
- $1.7M
- Per unit, per year
- Median gross sales
- $1.6M
- Avg gross margin
- $358K
- Reported as Gross Margin in FDD Item 19
- Cash-on-cash
- 68.8%
- Based on Gross Margin / investment midpoint
- Item 19 type
- Actual Performance
- Sample size
- 115 units
- vs category median 28 · large
- Range (low → high)
- $734K→$3.6M
- Cohort dispersion (min → max)
- Reporting year
- 2021
- Fiscal year the figures cover
- Transparency
- 7 / 5
- vs category median 4 / 5 · above
Compared against 453 Quick-Service Restaurants brands
vs Quick-Service Restaurants averages
How Crumbl Cookies Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 327
- Opened
- 185
- Last reporting year
- Closed
- 0
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 0.0%
- Company-owned
- 1
- Corporate units in the system
- % franchised
- 100%
- vs corporate-owned
- Multi-unit owners
- 1.0%
- Net growth (yr3)
- +131.2%
- Net unit change last year
3-year detail · Item 20
- Transfers (3yr)
- 8
- Transfer rate
- 2.4%
- Owners selling to other franchisees
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 25 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.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 581
- Loan volume
- N/A
- Amount data pending
- Median loan
- N/A
- Charge-off rate
- N/A
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- N/A
- 5-yr charge-off
- N/A
- Loans approved 2021+
- Active lenders
- 0
- Defaults
- 0
Explore lender portfolios on Bank Reports or regional data on State Reports.
Risk analysis
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Crumbl presents a high-growth but structurally risky opportunity marked by explosive expansion without territorial protection, unverified income claims, and concerning unit velocity that may indicate market saturation ahead.
Litigation (Item 3)
No litigation required to be disclosed
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Squire & Company, P.C.
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: No
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 5 / 100 rating
- 01MINORExplosive unit growth (131.2% YoY) suggests potential market saturation and cannibalization risk — unsustainable expansion pace raises sustainability concerns
- 02MINORZero territorial protection despite rapid multi-unit development creates direct competition between franchisees and company-owned locations
- 03MINORHigh initial investment ($347k-$691k) paired with 8% royalty requires $135k+ annual sales just to break even on fees, limiting margin flexibility
- 04MINORItem 19 Financial Performance Representations absent — unable to independently verify claimed $357k average net income across franchise system
- 05MINORHypergrowth trajectory (131% YoY) indicates classic bubble dynamics; historical data needed to assess whether growth is sustainable or driven by unsustainable unit expansion
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 5 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 2 |
| Territory type | Radius |
| Protected territory | No |
| Exclusive territoryℹ | Yes |
| Territory radius | 1 mi |
| Territory population | 100,000 |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 3 years |
| Non-compete (miles)ℹ | 25 mi |
| Right of first refusalℹ | Yes |
| RoFR response window | 60 days |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | Yes |
| Arbitration location | Salt Lake County, Utah |
| Jury trial waiver | Yes |
| Governing law | Utah |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation required to be disclosed
Items 10, 11
Training & Operations
- Classroom training
- 16 hrs
- On-the-job training
- 55 hrs
- Training location
- On-site and corporate
- Time to open
- 6 mo
- From signing to launch
- POS system
- Stripe POS
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Stripe POS
Item 20 · call current owners
Franchisee Contacts
35 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Crumbl Cookies · FDD (2022) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Crumbl Cookies franchise?
The total investment to open a Crumbl Cookies franchise ranges from $348K – $692K, with an initial franchise fee of $50K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Crumbl Cookies franchise owners earn?
According to Item 19 of the Crumbl Cookies FDD, the average gross sales per unit is $1.7M. The median is $1.6M. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
What is Crumbl Cookies's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Crumbl 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 Crumbl Cookies franchise locations are there?
As of their most recent FDD filing, Crumbl Cookies has 327 total units in the United States, including 54 franchised units and 1 company-owned units. 185 new units were opened in the latest reporting year.
Is Crumbl Cookies a good franchise to buy?
FranchiseVerdict rates Crumbl Cookies as a A-grade franchise with a risk score of 5 out of 100, based on our analysis of investment costs, revenue data, SBA loan performance, and growth trends. 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
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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.