FranchiseVerdict
Nothing Bundt Cakes logo
FV-01796·STRONGExcellent100

Nothing Bundt Cakes

Food & Beverage - BakeryFranchising since 2021Website
Investment
$667K – $1.0M
87th pct Bakery
Avg revenue
$1.5M
51st pct Bakery
Royalty
6.0%
36th pct Bakery
Units
660
94th pct Bakery
SBA default
0.0%
vs <3% typical

Bottom line

  • Total investment $667K – $1.0M including a $45K franchise fee, 6.0% ongoing royalty.
  • Average unit revenue of $1.5M/year (median $1.4M). Estimated payback in 2.7 years.
  • Rated STRONG with a risk score of 42/100. SBA loan default rate of 0.0% across 481 loans (below the industry average).
  • System growing at 40.1% CAGR over 3 years with 660 total units — strong expansion trajectory.

Item 1 · who you're contracting with

The Franchisor

Legal entity
NBC Franchisor LLC
Parent company
NBC Holdings, LLC
Incorporated in
Delaware
HQ
5005 Lyndon B. Johnson Pkwy, Suite 600, Dallas, Texas 75244
Auditor
KPMG LLP
Audited financials
Franchisor revenue
$39.0M
vs $52.3M 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 Nothing Bundt Cakes unit return on the cash you put in?

Revenue · per unit, per year
$
FDD Item 19 reports $1,480,010
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: $667K–$1.0M
Working capital
$
FDD reports $75K–$75K

Unlevered ROIC · per unit

11%

Below typical band (30–60%)

0%30–60% Yale band80%

Store EBITDA · annual
$104K
EBITDA margin
7.0%
Total invested
$925K
Payback
107 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.

Overview

About

Franchisees operate specialty bakery retail locations focused on customizable bundt cakes and complementary baked goods. Daily operations include cake production/baking, customer service, order fulfillment (walk-in and custom orders), inventory management, and staffing oversight. The model emphasizes product customization and seasonal offerings to drive repeat customer traffic and catering/corporate sales.

CEO
Dolf A. Berle
Founded
2021
FDD year
2025
States available
43

Item 7 · what it costs

The Vitals

Total investment
$667K – $1.0M
All-in to open one unit
Liquid capital
$75K – $75K
Cash you must have on hand
Franchise fee
$45K
Royalty
6.0%
Net Revenues · typical 6–8%
Ad fund
5.0%
typical 3–5%
Total fee load
11.0%
vs 9–13% typical
Payback period
2.7 yrs
From v3 / Item 19

Item 19

Financial Performance

Avg gross sales
$1.5M
Per unit, per year
Median gross sales
$1.4M
Item 19 type
Net Revenues and KPIs
Sample size
459 units
vs category median 23 · large
Range (low → high)
$502K$3.7M
Cohort dispersion
Transparency
10 / 5
vs category median 4 / 5 · above
Revenue rank51th
vs Food & Beverage - Bakery peers
Investment cost rank87th
Lower investment ranks lower (better)
Royalty rate rank36th
Lower royalty = lower percentile (better)
Unit count rank94th
vs Food & Beverage - Bakery peers
Risk score rank2th
Lower risk = lower percentile (better)

Item 20 · unit dynamics

The Growth Chart

Total units
660
Opened
101
Last reporting year
Closed
0
Turnover rate
0.0%
Company-owned
17
Corporate units in the system
% franchised
97%
vs corporate-owned
Net growth (yr3)
+18.6%
Net unit change last year
3-yr CAGR
+40.1%
Compounded over last 3 years
2023
643+101
Franchised units
2024
542
Franchised units
2025
459
Franchised units

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

Item 20 · 7 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 · 7 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
481
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

42
Risk · 0-100
STRONG42 / 100

Nothing Bundt Cakes shows moderate-to-cautious risk: strong unit growth and profitability claims are offset by regulatory settlements, unverified financial disclosures, and parent company litigation history suggesting operational and compliance gaps.

Score breakdown · what drove the 42 / 100 rating

  1. 01MEDMaryland Securities Commissioner consent order (2021) indicates regulatory compliance failure in franchise sales disclosure
  2. 02HIGHParent company litigation pattern across multiple brands (Arby's, Dunkin') suggests systemic governance issues with no-poaching and data security
  3. 03MINORItem 19 (Financial Performance) absent — average revenue of $1.48M and net income of $316.6K cannot be independently verified
  4. 04MINORHigh initial investment range ($667K–$1.03M) with 6% royalty creates breakeven pressure if unit underperforms system average
  5. 05MINORRapid unit growth (18.6% YoY) to 660 units may signal recruitment-driven expansion rather than mature, profitable unit sustainability

Severity inferred from the FDD text · not a regulatory classification

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

Contract & Territory Detail

Territory
Radius-based
Protected territory
Yes
Initial term
10 years
Renewal term
10 years
Online sales rights
Granted
Franchisor can compete
Yes
Hire a manager?
Allowed
Litigation count
4
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
Required
Governing law
Texas

Item 11

Training & Operations

Classroom training
40 hrs
On-the-job training
120 hrs

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

99 numbers

Locked
(714) 529-••••
CA
(760) 692-••••
CA
(925) 265-••••
CA

One-time purchase · CSV download · Validation questions included

FDD download

Nothing Bundt Cakes · FDD (2025) PDF

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