Perkins Restaurant and BakeryFranchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
FranchiseVerdict summary · 2026
A Perkins Restaurant and Bakery franchise requires a total initial investment of $579K – $3.6M, including a $40K franchise fee and an ongoing 4.0% royalty[2]. Per the 2026 FDD, average unit revenue was $2.0M[2]. Verdict grade: A. Run a live ROI scan →
Data last verified June 18, 2026 · figures per the 2026 FDD issuance
Overview
- Investment
- $579K – $3.6M
- 87th pct Service Resta…
- Avg gross sales
- $2.0M
- 53rd pct Service Resta…
- Royalty
- 4.0%
- 3rd pct Service Resta…
- Units
- 257
- 83rd 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
Franchising since 1986. Systems this mature have refined operations and brand recognition.
Franchised units fell from 191 to 175 over 3 years. Investigate why operators are leaving.
Bottom line
- Total investment $579K – $3.6M including a $40K franchise fee, 4.0% ongoing royalty.
- Average unit revenue of $2.0M/year (median $1.9M).
- Verdict A (Top Quintile) with a risk score of 20/100.
- Bankruptcy history disclosed in the FDD. Review Item 4 for details before proceeding.
Item 1 · who you're contracting with
The Franchisor
- Legal entity
- PERKINS LLC
- Parent company
- Elysium Management LLC
- Predecessor
- franchisor of Perkins
- Prior franchisor entity
- Incorporated in
- DE
- HQ
- 5901-B Peachtree Dunwoody Road, Suite 450, Sandy Springs, Georgia 30328
- Auditor
- Frazier & Deeter, LLC
- Audited financials
- Franchisor revenue
- $200.2M
- vs $191.5M prior year
Independent franchisee associations
- Franchise Advisory Council (FAC)
- Independent Franchisee Association
Franchisee-led councils or alliances disclosed in Item 20. Indicates operator voice.
Affiliated brands
- of Perkins
- Huddle House
Other brands the franchisor or its parent operates (Item 1).
Overview
About
Franchisees operate casual full-service restaurants with integrated bakeries, managing daily operations including food service, baking, kitchen staff, and customer experience across breakfast, lunch, and dinner dayparts. Typical locations range from standalone buildings to strip centers, requiring significant real estate and working capital investment with 24/7 or extended-hour operational models.
- CEO
- Paul Damico
- Headquarters
- GA
- Founded
- 1958
- FDD year
- 2026
- States available
- 30
FDD Item 7 · 2026 filing · 34 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Fee | $40K | $40K | |
| Training Fee and Travel and Living Expenses While Training | $40K | $60K | |
| Real Estate - Rent for First 3 months | $20K | $60K | |
| Improvements | $700K | $2.3M | |
| Interest during construction | $25K | $30K | |
| Equipment and Seating | $350K | $650K | |
| Signs and Decor | $35K | $82K | |
| Site Plan/Engineering Drawings | $13K | $35K | |
| Travel Expenses for Opening Guide Meeting | $0 | $750 | |
| Smallwares, Small equipment, Opening Inventory and Uniforms | $50K | $75K | |
| POS System | $16K | $21K | |
| Help Desk (total for first 3 months) | $215 | $375 | |
| Hardware and Software Components - Computer Security | $5K | $7K | |
| Other Computer and Technology Expenses (first 3 months) | $675 | $1K | |
| Grand Opening Promotion | $5K | $15K | |
| Miscellaneous Opening Costs | $45K | $55K | |
| Additional Funds - 3 Months | $100K | $150K | |
| Initial Franchise Fee (Reduced Footprint) | $40K | $40K | |
| Training Fee and Travel and Living Expenses While Training (Reduced Footprint) | $40K | $60K | |
| Real Estate - Rent for First 3 months (Reduced Footprint) | $15K | $55K | |
| Total initial investment | $2.8M | $6.9M |
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.
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
$298K
15.0% margin
Unlevered ROIC
14%
EBITDA / total invested capital
Payback
7.4 yrs
cash-on-cash, unlevered
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $579K – $3.6M
- Below avg, review vs category
- Liquid capital req'd
- $100K – $150K
- Below avg, review vs category
- Franchise fee
- $15K – $40K
- Below avg, review vs category
- Royalty
- 4.0%
- Gross Sales · typical 6–8%
- Ad fund
- 3.0%
- typical 3–5%
- Total fee load
- 7.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 4.0% of gross sales |
| Marketing / ad fund | 3.0% of gross sales |
| Technology fee | $850 |
| Transfer fee | $10K |
| Renewal fee | $10K |
| Inventory (initial) | $50K – $75K |
| Total fee load | 7.0% of rev |
Financial Performance
- Avg gross sales
- $2.0M
- Per unit, per year
- Median gross sales
- $1.9M
- Item 19 type
- net_sales
- Sample size
- 247 units
- vs category median 28 · large
- Range (low → high)
- $590K→$5.2M
- Cohort dispersion (min → max)
- Quartile band
- $996K→$3.1M
- Bottom 25% → top 25%
- Transparency tier
- full
- Categorical assessment of disclosure depth
- Transparency
- 4 / 5
- vs category median 4 / 5 · typical
Compared against 453 Quick-Service Restaurants brands
Revenue is only 1.0x the investment. This means each unit may take 5+ years to recoup the initial outlay at typical margins.
vs Quick-Service Restaurants averages
How Perkins Restaurant and Bakery Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 257
- Opened
- 2
- Last reporting year
- Closed
- 8
- Terminated
- 1
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 3
- Term expired, not renewed (per Item 20)
- Turnover rate
- 3.1%
- Company-owned
- 82
- Corporate units in the system
- % franchised
- 68%
- vs corporate-owned
- Net growth (yr3)
- -4.4%
- Net unit change last year
- 3-yr CAGR
- -8.4%
- Compounded over last 3 years
3-year detail · Item 20
- Closed (3yr)
- 81
- Terminated (3yr)
- 0
- Non-renewed (3yr)
- 1
- Transfers (3yr)
- 9
- Reacquired (3yr)
- 0
- Franchisor bought back
- Transfer rate
- 5.1%
- Owners selling to other franchisees
- Continuity rate
- 95.1%
- Units that stayed open
- Termination rate
- 2.3%
- Franchisor-initiated terminations
- Ceased ops
- 1.7%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 32 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.
Available to sell in · Item 12
- California
- Illinois
- Indiana
- Maryland
- Michigan
- Minnesota
- New York
- North Dakota
- Rhode Island
- South Dakota
- Virginia
- Washington
- Wisconsin
States where the franchisor is registered to sell new franchises (FDD registration filings).
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 11
- 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
Perkins faces declining unit economics, undisclosed profitability, employment litigation exposure, and unclear financial viability, creating meaningful risk for new franchisees entering a contracting system.
Litigation (Item 3)
6 case reference(s): 0 pending, 2 settled.
Largest disclosed settlement: $26,000
Bankruptcy (Item 4)
Disclosed in last 7 years
Bankruptcy Code in the District of Delaware, Case No. 19-11743. PMCLLC’s principal place of business is 6075 Poplar Avenue, Suite 800, Memphis, Tennessee 38119. PMC continues to operate its business and manage its assets as a debtor-in-possession under bankruptcy court supervision, except with respe
Audited financials (Item 21)
Yes · Frazier & Deeter, LLC
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- Must buy proprietary products: No
- Restricted to system-approved products: Yes
Score breakdown · what drove the 20 / 100 rating
- 01MINORDeclining unit count (-4.4% YoY) indicates system contraction and potential franchisee struggles
- 02MINORNo Item 19 (Net Income) disclosure prevents assessment of actual profitability despite $1.99M average revenue
- 03HIGHMaterial employment litigation against predecessor franchisor (PMC) involving wage/hour violations and PAGA claims signals potential operational/compliance risks
- 04MINORHigh investment range ($579K-$3.58M) with 4% royalty requires substantial revenue to achieve acceptable returns
- 05MINOR20-year term is lengthy commitment for declining franchise with unproven current profitability metrics
- 06HIGHSuccessor franchisor liability exposure unclear given litigation tied to predecessor operations
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 | 20 years |
|---|---|
| Renewal term | 10 years |
| Territory type | Radius |
| Protected territory | Yes |
| Online sales rights | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Right of first refusalℹ | Yes |
| RoFR response window | 30 days |
| Termination notice | 10 days |
| Curable defaultsℹ | 4 |
| Mandatory arbitration | Yes |
| Jury trial waiver | Yes |
| Governing law | Georgia |
| Litigation count | 4 |
View Item 3 litigation summary
6 case reference(s): 0 pending, 2 settled.
Items 10, 11
Training & Operations
- Classroom training
- 103 hrs
- On-the-job training
- 258 hrs
- Training location
- On-site at restaurant location
- Site selection
- franchisor
- Franchisor financing
- Offered
- Item 10
- POS system
- Micros 3700
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Micros 3700
Item 20 · call current owners
Franchisee Contacts
188 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Perkins Restaurant and Bakery · FDD (2026) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Perkins Restaurant and Bakery franchise?
The total investment to open a Perkins Restaurant and Bakery franchise ranges from $579K – $3.6M, 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 Perkins Restaurant and Bakery franchise owners earn?
According to Item 19 of the Perkins Restaurant and Bakery FDD, the average gross sales per unit is $2.0M. The median is $1.9M. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
What is Perkins Restaurant and Bakery's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Perkins Restaurant and Bakery (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 Perkins Restaurant and Bakery franchise locations are there?
As of their most recent FDD filing, Perkins Restaurant and Bakery has 257 total units in the United States, including 191 franchised units and 82 company-owned units. 2 new units were opened in the latest reporting year.
Is Perkins Restaurant and Bakery a good franchise to buy?
FranchiseVerdict rates Perkins Restaurant and Bakery as a A-grade franchise with a risk score of 20 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.