HAPPY JOE'S PIZZA vs Papa Murphy's

Happy Joe’s is a dead end for software sales. With 29 franchised units and zero growth, the total addressable market is microscopic. Even if you captured every location, the deal size wouldn’t justify the sales cycle. The only bright spot is a higher AUV, which suggests operators have some budget, but that’s irrelevant when there are so few doors to sell into. The franchisor-controlled procurement model also means you’d likely need corporate sign-off, adding friction for a tiny prize. This is a TAM problem that no amount of per-unit spend can fix.

Papa Murphy’s gives you scale—965 franchised units is a real pipeline. The negative unit growth is a warning sign, not a dealbreaker. It means operators are under pressure to drive efficiency and ticket size, which is exactly when POS, scheduling, and marketing automation become urgent buys. The approved-supplier procurement model is the terrain advantage: you can sell directly to franchisees without a corporate gatekeeper, and the lower investment range means operators have less capital tied up in buildout, freeing budget for software. The lower AUV is the tradeoff—these aren’t high-roller buyers, so your pricing and packaging need to match leaner economics.

The meaningful tradeoff is TAM and terrain versus per-unit budget. Papa Murphy’s offers a large, accessible base of motivated operators, while Happy Joe’s offers a handful of better-funded but locked-down locations. In B2B software, distribution beats deal size when the base is this lopsided.

Verdict: Papa Murphy’s is the stronger opportunity right now because its 965-unit, franchisee-accessible base creates a real pipeline, even with lower per-unit spend.