Doughnuttery vs Papa Murphy's

Papa Murphy’s is the stronger play right now, and it’s not close when you weigh total addressable market. With 965 franchised units against Doughnuttery’s single franchisee, the sheer volume of doors available to sell into dwarfs every other consideration. Even factoring in a -3.6% unit contraction, the installed base remains massive enough that a modest penetration rate—say 10%—puts nearly 100 locations in play. That’s recurring revenue on a scale Doughnuttery simply can’t touch, especially when the average unit revenue sits at a level where operators have real operating budget for tech. The investment range ($450K–$693K) signals franchisees with capital and a vested interest in operational efficiency, which translates to willingness to spend on POS, scheduling, and marketing automation that protects margins.

Budget and terrain tilt the deal further toward Papa Murphy’s. The approved-supplier procurement model means franchisees retain buying autonomy; you’re not locked out by a corporate-mandated tech stack, so the sales motion is direct-to-owner with fewer gatekeepers. Doughnuttery’s franchisor-controlled model might look appealing for a single top-down deal, but with only one franchisee and zero unit growth, there’s no expansion play—you’d be negotiating a bespoke rollout for a brand that isn’t scaling. The meaningful tradeoff is that Papa Murphy’s negative unit trend signals churn risk. You’re selling into a mature, slightly shrinking system where every win has to come from displacement of an incumbent, not new-build greenfield. That demands a sharper competitive wedge and a demonstrable ROI story.

Timing favors Papa Murphy’s despite the negative growth. The 2026 FDD signals an active, current franchisor where corporate is still investing in disclosure and compliance—fertile ground for software vendors who can tie their pitch to data-driven margin recovery. Doughnuttery’s flat unit count and tiny franchised base mean even a 100% attach rate yields a rounding error of revenue. Unless you’re hunting a loss-leader reference account to crack the franchisor-controlled segment at scale, allocating sales effort to a four-unit chain with one open door makes no economic sense.

Verdict: Papa Murphy’s delivers a real TAM with buying autonomy, while Doughnuttery is a dead-end one-trick deal.