Panera Bread vs Papa Johns
Franchise Comparison 2026
Both Panera Bread and Papa Johns are quick-service restaurants franchises. Panera Bread requires an investment of $1.3M – $4.7M while Papa Johns requires $261K – $853K. In terms of revenue, Panera Bread reports higher average unit revenue at $2.6M. Note: Reported as net sales, not gross sales. Papa Johns has SBA lending data on file with a 18.1% charge-off rate. FranchiseVerdict rates Panera Bread A (Strongest tier) and Papa Johns A (Strongest tier).
| Metric | Panera Bread | Papa Johns |
|---|---|---|
| Verdict Grade | AStrongest tierStrongest tier | AStrongest tierStrongest tier |
| Investment Range | $1.3M – $4.7M | $261K – $853K |
| Franchise Fee | $35K | $25K |
| Royalty Rate | 5.0% | 5.0% |
| Average Revenue (Item 19) | $2.6M | $1.1M |
| SBA Charge-Off Rate | Limited data | 18.1% (323 loans) |
| Total Units | 2,206 | 3,291 |
| Unit Growth (YoY) | N/A | N/A |
| Year Began Franchising | 1993 | 2021 |
| FDD Year | 2025 | 2025 |
Investment Range
$1.3M – $4.7M
$261K – $853K
Franchise Fee
$35K
$25K
Royalty Rate
5.0%
5.0%
Average Revenue (Item 19)
$2.6M
$1.1M
SBA Charge-Off Rate
Limited data
18.1% (323 loans)
Total Units
2,206
3,291
Unit Growth (YoY)
N/A
N/A
Year Began Franchising
1993
2021
FDD Year
2025
2025