Dairy Queen of Virginia vs Papa Murphy's

Dairy Queen of Virginia gives you the budget argument. Average unit revenue sits at $1.64M—more than double what a typical Papa Murphy’s location pulls—and the high end of the investment range stretches past $2.5M. That’s the kind of operator who can sign a multi-year software deal without flinching. Unit count is tiny at 83, so total addressable market is thin, but dollar density per store and willingness to spend on complex back-of-house and POS stacks make this a qualified, high-conversion list if you can land the first few.

Papa Murphy’s wins on TAM and timing. You’re looking at 965 franchised units, a 2026 FDD that signals the brand is actively selling, and a tight, predictable investment band that attracts multi-unit franchisees running lean operations. Unit growth is negative for both, but Papa Murphy’s larger base means churn creates immediate replacement demand. Procurement is locked to approved suppliers for both brands, so no terrain advantage either way. The tradeoff is real: enterprise deal sizes will be smaller per store, and the 2% ad fund hints at margin pressure, but volume and patchwork of multi-unit owners make it a faster land-and-expand play.

Verdict: Start with Papa Murphy’s for pipeline velocity and franchisee count, then layer Dairy Queen of Virginia as a high-ACV, low-volume hunt for the reps who can close deep-pocket operators.