COOKIE CUTTERS FRANCHISING INCCookie Cutters vs Papa Murphy's

Papa Murphy’s is the stronger software-sales opportunity right now. TAM and timing decide this. With 1,014 total units (965 franchised), it delivers a 10x larger addressable market than Cookie Cutters’ 108 units. The 2026 current FDD signals active franchise sales—new owners are the highest-conversion buyers for POS, scheduling, and back-office systems because they’re building from zero. Cookie Cutters’ dormant filing and microscopic 0.95% unit growth on a tiny base mean virtually no new-owner pipeline and a stagnant installed base, starving your outbound motion of fresh targets.

The tradeoff is unit growth: Cookie Cutters is technically positive while Papa Murphy’s is shrinking at -3.6% YoY. But that growth is irrelevant at sub-1% on a 108-unit system, and dormancy confirms the brand isn’t investing in expansion. Budget tilts further toward Papa Murphy’s—its $450K–$693K investment range implies higher AUVs and deeper-pocket franchisees who can afford multi-module software, whereas Cookie Cutters’ $142K–$357K range suggests cost-sensitive operators unlikely to prioritize back-office or marketing automation spend. Terrain is a wash (both approved-supplier), so procurement doesn’t gate your access.

Verdict: Papa Murphy’s wins on TAM, budget, and active franchising—its large, current franchise base is the better hunting ground despite negative net unit growth.