Le Pain QuotidienFranchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
FranchiseVerdict summary · 2026
A Le Pain Quotidien franchise requires a total initial investment of $957K – $1.8M, including a $22K franchise fee and an ongoing 5.0% royalty[2]. The 2023 FDD does not disclose unit-level revenue (no Item 19). Verdict grade: F. Run a live ROI scan →
Data last verified June 18, 2026 · figures per the 2023 FDD issuance
Overview
- Investment
- $957K – $1.8M
- 96th pct Service Resta…
- Avg gross sales
- N/A
- 59th pct Service Resta…
- Royalty
- 5.0%
- 13th pct Service Resta…
- Units
- 64
- 67th 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
The franchisor's auditor raised doubt about continued operations. This is a serious risk signal.
Bottom line
- Total investment $957K – $1.8M including a $22K franchise fee, 5.0% ongoing royalty.
- No Item 19 financial performance data disclosed. The franchisor chose not to publish revenue figures.
- Verdict F (Bottom Quintile) with a risk score of 79/100.
- Auditor disclosed a going-concern note, which flagged doubt about the franchisor's ability to continue operations. Verify against the latest FDD.
Item 1 · who you're contracting with
The Franchisor
- Legal entity
- BrunchCo 21, S.A.
- Parent company
- BrunchCo 21, S.A.
- Incorporated in
- Belgium
- HQ
- Rue de la Victoire 1, Brussels, 1060, Belgium
- Auditor
- Mazars USA LLP
- Audited financials
- Franchisor revenue
- $764K
- vs $615K prior year
- ⚠ Going-concern note
- Disclosed in FDD 2023
- Status as of 2023; may have been resolved in a later filing we don't yet have.
Overview
About
Le Pain Quotidien franchisees operate upscale Belgian-style bakery-café concepts serving artisanal breads, pastries, and casual dining in urban/premium locations. Daily operations include managing in-house baking production, inventory, front-of-house service, staffing (typically 15–25 employees), food safety compliance, and maintaining brand standards across a capital-intensive, labor-dependent model.
- CEO
- Annick Van Overstraeten
- Founded
- 2020
- FDD year
- 2023
- States available
- 6
FDD Item 7 · 2023 filing · 18 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Feenot refundable | $22K | $22K | |
| Leasenot refundable | $20K | $100K | |
| Leasehold Improvementsnot refundable | $250K | $500K | |
| Furnishingsnot refundable | $120K | $220K | |
| Kitchen Equipmentnot refundable | $150K | $250K | |
| Signagenot refundable | $10K | $30K | |
| Suppliesnot refundable | $40K | $60K | |
| Fixturesnot refundable | $75K | $110K | |
| Opening Inventorynot refundable | $30K | $55K | |
| Grand Opening Advertisingnot refundable | $5K | $10K | |
| Other Advertisingnot refundable | $10K | $15K | |
| Prepaid Insurance Premiumsnot refundable | $3K | $5K | |
| Computers and Suppliesnot refundable | $30K | $50K | |
| Travel and Living Expenses for Trainingnot refundable | $25K | $50K | |
| Permits, Health, Occupancynot refundable | $3K | $5K | |
| Utility costs and depositsnot refundable | $5K | $15K | |
| Legal and Accountingnot refundable | $10K | $30K | |
| Additional Funds - 3 Monthsnot refundable | $150K | $300K | |
| Total initial investment | $957K | $1.8M |
Line items extracted from FDD Item 7. Ranges reflect the franchisor's stated low and high per line. Total is the sum of line-item lows / highs — actual costs may fall outside this range depending on market and build-out scope.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $957K – $1.8M
- Below avg, review vs category
- Liquid capital req'd
- $150K – $300K
- Below avg, review vs category
- Franchise fee
- $22K – $22K
- Better than avg vs category
- Royalty
- 5.0%
- Gross Sales · typical 6–8%
- Ad fund
- 1.0%
- typical 3–5%
- Total fee load
- 6.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 5.0% of gross sales |
| Marketing / ad fund | 1.0% of gross sales |
| Technology fee | $0 |
| Transfer fee | $22K |
| Renewal fee | $5K |
| Total fee load | 6.0% of rev |
Financial Performance
This franchisor did not disclose financial performance representations in Item 19, or our extractor could not parse them.
vs Quick-Service Restaurants averages
How Le Pain Quotidien Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 64
- Opened
- 0
- 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
- 0
- Corporate units in the system
- % franchised
- 100%
- vs corporate-owned
- Multi-unit owners
- 5.3%
- Net growth (yr3)
- +0.0%
- Net unit change last year
- 3-yr CAGR
- +18.5%
- Compounded over last 3 years
3-year detail · Item 20
- Transfers (3yr)
- 0
- Projected new
- 4
- Franchisor's next-year forecast
- Continuity rate
- 100.0%
- Units that stayed open
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 3 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 loan disclosures. This brand has only 6 7(a) loans on file; statistical reliability is limited below 10 loans.
- Total loans
- 6
- 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
Litigation-burdened franchisor with undisclosed unit economics, financial opacity, and unclear growth trajectory presents elevated risk relative to capital requirements and franchisee recourse.
Litigation (Item 3)
LPQ Central Canada Inc. v. PQ Licensing S.A., et al., Case No. CV-11-436710 (Ontario Superior Court of Justice). Developer sought rescission of Area Development Agreement and damages up to $18 million based on allegations of non-compliant disclosure under Arthur Wishart Act and misrepresentation. Litigation administratively dismissed February 28, 2013, stayed January 13, 2014 pending arbitration. Arbitrator determined on June 10, 2016 that arbitration was not time-barred and on August 14, 2019 that rescission claim was not time-barred. Matter pending final resolution.
Bankruptcy (Item 4)
Disclosed in last 7 years
Audited financials (Item 21)
Yes · Mazars USA LLP⚠ Going-concern note flagged
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- 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 79 / 100 rating
- 01HIGHActive litigation seeking $18M damages and rescission of development agreement signals serious disclosure/compliance issues between franchisor and franchisees
- 02MINORNo Item 19 financial performance disclosure (avg revenue/net income not provided) prevents validation of ROI on $957K–$1.8M investment
- 03MINOROnly 64 total units with unknown growth trajectory suggests potential system stagnation or contraction in competitive bakery-café market
- 04MEDHigh initial investment ($957K–$1.8M) combined with undisclosed profitability creates asymmetric risk for franchisee
- 05HIGHGoing concern status indicates potential franchisor financial instability, raising questions about support, marketing fund viability, and long-term system stability
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 | 10 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 3 |
| Territory type | exclusive |
| Protected territory | Yes |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 1.5 years |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | Yes |
| Jury trial waiver | Yes |
| Governing law | Belgium |
| Litigation count | 1 |
View Item 3 litigation summary
LPQ Central Canada Inc. v. PQ Licensing S.A., et al., Case No. CV-11-436710 (Ontario Superior Court of Justice). Developer sought rescission of Area Development Agreement and damages up to $18 million based on allegations of non-compliant disclosure under Arthur Wishart Act and misrepresentation. Litigation administratively dismissed February 28, 2013, stayed January 13, 2014 pending arbitration. Arbitrator determined on June 10, 2016 that arbitration was not time-barred and on August 14, 2019 that rescission claim was not time-barred. Matter pending final resolution.
Items 10, 11
Training & Operations
- Classroom training
- 171 hrs
- On-the-job training
- 235 hrs
- Training location
- At franchisor's location and on-site at franchisee's restaurant
- Ongoing training
- Required
Items 5 & 11
Franchisor Support
Item 20 · call current owners
Franchisee Contacts
3 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Le Pain Quotidien · FDD (2023) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Le Pain Quotidien franchise?
The total investment to open a Le Pain Quotidien franchise ranges from $957K – $1.8M, with an initial franchise fee of $22K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Le Pain Quotidien franchise owners earn?
Le Pain Quotidien does not disclose average franchise owner earnings in their FDD Item 19. Not all franchisors are required to make financial performance representations. We recommend asking existing franchisees directly about their financial experience.
What is Le Pain Quotidien's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Le Pain Quotidien (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 Le Pain Quotidien franchise locations are there?
As of their most recent FDD filing, Le Pain Quotidien has 64 total units in the United States, including 54 franchised units and 0 company-owned units.
Is Le Pain Quotidien a good franchise to buy?
FranchiseVerdict rates Le Pain Quotidien as a F-grade franchise with a risk score of 79 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.
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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.