Schmidt Baking Distribution (dba Schmidt)
Bottom line
- Total investment $45K – $364K including a $30K franchise fee.
- No Item 19 financial performance data disclosed — the franchisor chose not to publish revenue figures.
- Rated CAUTION with a risk score of 71/100.
- No Item 19 financial performance representation. Without franchisor-disclosed revenue data, you'll need to gather unit economics directly from existing franchisees.
Item 1 · who you're contracting with
The Franchisor
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 Schmidt Baking Distribution (dba Schmidt) unit return on the cash you put in?
Unlevered ROIC · per unit
50%
In Yale's "attractive" band (30–60%)
Overview
About
Schmidt Baking franchisees operate as independent distributors of fresh baked goods and related products through a network of 460 units. Day-to-day operations involve wholesale delivery, route management, account servicing, and inventory management across protected territories. Franchisees are currently classified as independent contractors, though this classification is contested in multiple active lawsuits.
Item 7 · what it costs
The Vitals
Item 19
Financial Performance
This franchisor did not disclose financial performance representations in Item 19, or our extractor could not parse them.
Item 20 · unit dynamics
The Growth Chart
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 9 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 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.
No SBA loan data available for this brand.
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Schmidt Baking presents HIGH RISK due to system contraction, pervasive wage/employment litigation, regulatory violations, and opaque financial disclosures that prevent due diligence.
Score breakdown · what drove the 71 / 100 rating
- 01MINORDeclining unit count (-0.5% YoY) suggests system contraction and potential saturation or performance issues
- 02MINORMultiple active wage/overtime misclassification lawsuits create ongoing legal and financial exposure for franchisees
- 03MED2019 Maryland Securities Commissioner consent order indicates prior regulatory violations and disclosure failures
- 04MEDNo Item 19 financial performance disclosures (Avg Revenue and Net Income not disclosed) prevents informed ROI analysis
- 05MINORWide investment range ($44K-$364K) with unknown royalty structure creates unpredictable cost burden
- 06MINORUnknown franchise term length limits ability to assess investment recovery timeline
- 07MINORIndependent contractor classification disputes suggest potential reclassification liability and wage law compliance risks
- 08MEDRoyalty structure undisclosed creates uncertainty about actual unit economics and profitability threshold
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
Item 11
Training & Operations
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
100 numbers
One-time purchase · CSV download · Validation questions included
FDD download
Schmidt Baking Distribution (dba Schmidt) · FDD (2025) PDF