CML Storefront vs Papa Murphy's

Papa Murphy’s is the stronger opportunity right now, and the reason comes down to TAM and terrain. With 965 franchised units against CML Storefront’s 2, the addressable market is orders of magnitude larger. Even if you captured 100% of CML’s base, you’d close two deals—barely a pipeline. Papa Murphy’s gives you a real, scalable target list where a modest win rate translates into meaningful revenue. The negative unit growth (-3.6% YoY) is a timing risk, but it also creates urgency: operators under pressure are more likely to swap out underperforming tech stacks to cut costs or drive ticket growth, which your POS and marketing automation suite can pitch directly.

The terrain advantage seals it. Papa Murphy’s runs an approved-supplier procurement model, meaning franchisees have autonomy to choose their own software vendors. You’re selling to individual owner-operators, not begging a franchisor-controlled gatekeeper who bundles a mandated solution. CML’s franchisor-controlled model likely means the tech stack is already locked down, making your product a non-starter unless you unseat an incumbent at the parent level—a long, political sale with only two units at stake. Papa Murphy’s open procurement lets you run a high-velocity, multi-tenant land-and-expand motion across nearly a thousand independently deciding buyers.

The tradeoff is budget depth. CML’s AUV of $1.3M and lower royalty burden (2%) suggest fatter per-unit margins and potentially more willingness to pay for premium software. Papa Murphy’s operators, with a 5% royalty and tighter investment bands, will be more price-sensitive. But volume cures that: you can price for the segment, package light, and make it up on deal count. Two rich targets don’t build a business; a thousand viable ones do.

Verdict: Papa Murphy’s wins on TAM and open terrain, making it the only brand here with a real, repeatable sales motion—despite thinner per-unit budgets.