Bonita Bowls vs Papa Murphy's

Papa Murphy’s presents a dramatically larger total addressable market. With 1,014 total units—965 of them franchised—the chain offers a broad base of independent operators who can adopt software without a corporate mandate. Bonita Bowls, at just six corporate locations, caps the immediate deal size at a handful of seats. Even with negative unit growth of -3.6% year-over-year, Papa Murphy’s installed base alone is two orders of magnitude larger, making it the clear TAM winner. For a vendor prioritizing pipeline volume and recurring revenue, that scale outweighs almost any other factor.

The meaningful tradeoff sits in budget and terrain. Papa Murphy’s franchisees carry a higher royalty and ad fund burden (7% combined) and are operating in a shrinking system, which may tighten willingness to spend on new software. Bonita Bowls, by contrast, has a leaner investment range and lower fee load, suggesting less financial strain per location—but with zero franchised units, there is no distributed buyer base to pursue. Additionally, both brands use an approved-supplier model, so penetrating Papa Murphy’s requires navigating corporate gatekeepers before unlocking franchisee sales, whereas Bonita Bowls likely offers direct access to ownership with minimal procurement friction.

Verdict: Papa Murphy’s is the stronger software-sales opportunity right now because its massive franchised unit count delivers a TAM that dwarfs Bonita Bowls, even after accounting for negative growth and heavier fee structures.