Cinnabon vs Amorino - 2022 NY Pre-Effective Amendment Amorino

Cinnabon’s sheer scale and trajectory make this an unambiguous TAM play. With 1,310 franchised units and 30.7% unit growth, you’re looking at a fast-expanding installed base that compounds every year. The AUV of $665K signals healthy unit economics, so franchisees have the cash flow to actually buy and renew software. Amorino’s 11 units and negative unit growth offer no volume runway; you’d be selling into a shrinking book, not building one. Budget might look appealing on paper because Amorino’s investment range tops $1.7M, but that’s a vanity metric when you’re fishing in a puddle. High per-unit spend only matters if there are units to sell into, and here there are almost none.