FranchiseVerdict
My Favorite Muffin logo
FV-01723·MODERATEExcellent81

My Favorite Muffin

Food & Beverage - BakeryFranchising since 1998Website
Investment
$298K – $748K
51st pct Bakery
Avg revenue
$781K
28th pct Bakery
Royalty
5.0%
4th pct Bakery
Units
12
32nd pct Bakery
SBA default
0.0%
vs <3% typical

Bottom line

  • Total investment $298K – $748K including a $30K franchise fee, 5.0% ongoing royalty.
  • Average unit revenue of $781K/year.
  • Rated MODERATE with a risk score of 57/100. SBA loan default rate of 0.0% across 43 loans (below the industry average).
  • No protected territory and the franchisor reserves the right to compete in your area. Clarify territorial boundaries before signing.

Item 1 · who you're contracting with

The Franchisor

Legal entity
BAB SYSTEMS, INC.
Parent company
BAB, Inc.
Incorporated in
Illinois
HQ
500 Lake Cook Road, Suite 475, Deerfield, Illinois 60015
Auditor
Sassetti LLC
Audited financials
Franchisor revenue
$3.3M
vs $3.3M prior year

Yale framework · single-unit ROIC

Returns Analysis

Pulls Item 7 (investment) and Item 19 (revenue) from this brand's FDD into the Yale unlevered-ROIC formula. Override any input to stress-test it against your own assumptions.

The model · Yale framework

What would one My Favorite Muffin unit return on the cash you put in?

Revenue · per unit, per year
$
FDD Item 19 reports $781,113
Franchisor take · royalty + ad fund
Royaltytyp 68%
%
Ad fundtyp 35%
%
Operating costs · category default: restaurant
COGS
%
Labor
%
Rent / occupancy
%
Other operating
%
Total invested capital · what you actually put in
Initial investment
$
FDD Item 7: $298K–$748K
Working capital
$
FDD reports $12K–$18K

Unlevered ROIC · per unit

15%

Below typical band (30–60%)

0%30–60% Yale band80%

Store EBITDA · annual
$78K
EBITDA margin
10.0%
Total invested
$538K
Payback
83 mo
Unit-level only. A multi-unit portfolio gives up roughly 5–15% of this to shared services (corporate G&A) before reaching the ~10-unit break-even Yale describes.

Levered LBO scenario · Yale Crease Capital framing

What would 25 My Favorite Muffin units return on equity?

Edit assumptions

Equity IRR · 5-yr

49.9%

7.57× MOIC

Year-1 DSCR

1.88×

EBITDA ÷ debt service

Equity required

$469K

on $2.3M purchase

Total debt

$1.9M

SBA $1.2M + senior + seller note

Overview

About

My Favorite Muffin franchisees operate bakery-café retail locations focused on freshly baked muffins and complementary beverages. Day-to-day operations include inventory management, baking/food preparation, direct customer service, staff scheduling, and local marketing. Franchisees manage P&L, rent, labor, and ingredient costs while paying 5% of gross revenues to corporate.

CEO
MICHAEL W. EVANS
Founded
1992
FDD year
2026
States available
7

Item 7 · what it costs

The Vitals

Total investment
$298K – $748K
All-in to open one unit
Liquid capital
$12K – $18K
Cash you must have on hand
Franchise fee
$30K
Royalty
5.0%
Gross Revenues · typical 6–8%
Ad fund
3.0%
typical 3–5%
Total fee load
8.0%
vs 9–13% typical

Item 19

Financial Performance

Avg gross sales
$781K
Per unit, per year
Median gross sales
Item 19 type
Gross Revenues
Sample size
12 units
vs category median 23
Range (low → high)
$250K$1.4M
Cohort dispersion
Transparency
3 / 5
vs category median 4 / 5 · below
Revenue rank28th
vs Food & Beverage - Bakery peers
Investment cost rank51th
Lower investment ranks lower (better)
Royalty rate rank4th
Lower royalty = lower percentile (better)
Unit count rank32th
vs Food & Beverage - Bakery peers
Risk score rank43th
Lower risk = lower percentile (better)

Item 20 · unit dynamics

The Growth Chart

Total units
12
Opened
0
Last reporting year
Closed
0
Turnover rate
0.0%
Company-owned
0
Corporate units in the system
% franchised
100%
vs corporate-owned
Multi-unit owners
9.1%
Net growth (yr3)
+0.0%
Net unit change last year
3-yr CAGR
-7.7%
Compounded over last 3 years
2024
12±0
Franchised units
2025
12
Franchised units
2026
13
Franchised units

Year-over-year franchised unit counts and net change. Source: FDD Item 20.

Item 20 · 19 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).

AK
ME
VT
NH
MA
RI
CT
NY
NJ
PA
DE
MD
DC
WA
OR
CA
NV
ID
MT
WY
UT
CO
AZ
NM
ND
SD
NE
KS
OK
TX
MN
IA
MO
AR
LA
WI
IL
MS
TN
MI
IN
KY
AL
OH
WV
GA
VA
NC
SC
FL
HI
Registered · 19 states
Not registered

States derived from franchisee phone area codes (Item 20). Approximate — ported numbers may show the original state, not the franchisee's current location.

Government records

SBA Loan Data

Aggregated from SBA 7(a) loan disclosures, public data unique to FranchiseVerdict.

Total loans
43
Loan volume
Avg loan
Default rate
0.0%
vs <3% typical · system-wide
5-yr default

FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17

Risk & Legal

57
Risk · 0-100
MODERATE57 / 100

My Favorite Muffin presents CAUTION-to-HIGH RISK due to going concern issues, minimal system size, absent profitability data, and unprotected territories — unsuitable for most franchisees without direct validation from existing operators.

Score breakdown · what drove the 57 / 100 rating

  1. 01HIGHGoing Concern status is FALSE — suggests financial instability or unresolved operational issues at corporate level
  2. 02MEDNet Income not disclosed in Item 19 — unable to validate actual profitability; $781k average revenue may not translate to acceptable owner earnings
  3. 03MINOROnly 12 units with unknown growth trajectory — extremely small system raises questions about scalability, support infrastructure, and corporate viability
  4. 04MINORTerritory not protected — franchisees face direct competition from other franchisees and corporate-owned locations; market saturation risk
  5. 05MEDHigh investment range ($297.5k–$747.5k) relative to system size and undisclosed profitability — unfavorable risk/reward ratio
  6. 06MINOR5% royalty on gross revenue during potential negative cash flow periods — burdensome given lack of profitability disclosure

Severity inferred from the FDD text · not a regulatory classification

FDD Items 5, 6, 12, 17 · continued from Risk & Legal

Contract & Territory Detail

Protected territory
No
Initial term
10 years
Renewal term
10 years
Online sales rights
Restricted
Franchisor can compete
Yes
Hire a manager?
Allowed
Litigation count
0
Right of first refusal
Yes
Franchisor can buy back on resale
Mandatory arbitration
Yes
Jury trial waiver
Yes
Non-compete
2 yrs
Post-termination restriction
Owner-operator
Optional
Governing law
Illinois

Item 11

Training & Operations

Classroom training
40 hrs
On-the-job training
143 hrs
POS system
Emerge i3 Point of Sale System
Operating tech stack

Item 20

Franchisee Contacts

Phone numbers extracted directly from this brand's FDD Item 20. After purchase, you'll also receive a list of validation questions tailored to this brand.

Franchisee contacts

30 numbers

Locked
(808) 586-••••
HI
(410) 576-••••
MD
(317) 232-••••
IN

One-time purchase · CSV download · Validation questions included

FDD download

My Favorite Muffin · FDD (2026) PDF

Single-page checkout · instant download · CSV export of contacts available separately above