Bare Blends Franchise vs Papa Murphy's

Papa Murphy’s presents a far larger total addressable market with 965 franchised units versus Bare Blends’ 7. That 138x difference in store count matters more than the growth rate delta, especially since both brands are effectively stagnant or shrinking. Even with a -3.6% annual unit decline, Papa Murphy’s installed base is deep enough to sustain a multi-year software rollout, while Bare Blends’ entire franchise footprint could be fully penetrated with a single deal, leaving no expansion runway.

The procurement terrain also tilts decisively toward Papa Murphy’s. Its approved-supplier model means franchisees can select their own POS, marketing, and back-office tools, giving you many independent entry points without needing a single franchisor mandate. Bare Blends’ franchisor-controlled tech stack might look like an easy, centralized sale, but it concentrates all leverage in one decision-maker who can freeze you out indefinitely—and the upside is capped at 7 licenses. Papa Murphy’s higher investment range ($450K–$693K) signals that its operators are already deploying serious capital, so attaching a robust software stack isn’t a budget-stretching add-on.

Timing reinforces the choice: Papa Murphy’s FDD is current, meaning the system is actively selling franchises and renewing agreements—creating natural trigger events for technology evaluation. Bare Blends’ filing is already marked DUE, hinting at administrative lag or franchisee inactivity. The only meaningful tradeoff is that Papa Murphy’s declining unit count adds churn risk, but that risk is manageable against a thousand-unit opportunity; Bare Blends’ zero growth offers zero upside, making it a dead end after one closure.

Verdict: Papa Murphy’s is the stronger opportunity right now because TAM, open terrain, and current filing status crush the negligible growth advantage of a 10-unit brand.