From the filings

+0.09% franchised outlets YoYHQ-led decisions

Panera

Quick service restaurant

Panera's headquarters administers an approved-supplier list covering every category franchisees buy from, including food, packaging, and third-party delivery services. The system spans 2,214 units, evenly split between franchised and company-owned, reporting $2,541,217 in Item 19 average Net Sales for franchisee-owned cafes open the full 2025 fiscal year.

For software vendors selling into US franchise brands.

Live signals

Total units
2,214
1,106 franchised
Franchised outlet growth
+0.09%
Item 20, last two year-ends
AUV
$2.54M
Item 19, 2025
Royalty
Complete royalty terms unconfirmed
percentage component
Ad fund
2%
percentage component
Initial fee
$50K
per unit
Investment range
$1.17M–$4.57M
all-in, Item 7
Procurement
Approved supplier
from the filing
Non-compete
2 years
from the filing
Item 19
Claims
from the filing

Ordinary royalty terms

Complete royalty terms unconfirmed

Complete royalty terms are not confirmed for the selected filing.

Recorded percentage components

These are recorded percentage components. Each has its own base and conditions; the chart does not state the total payment or confirm ad-fund completeness.

1recorded components (FY2026)

Recorded percentage components (FY2026)Ad fund 2%. Components use their own filing bases and conditions. Drawn against a 15% reference scale.

15% reference

Ad fund 2%

Mandated & recommended tech

The systems vendors compete with

Systems named in Item 11 of this filing. None is recorded as mandated here, which is not the same as the filing mandating nothing. Read Item 11 before treating the category as open.

FacebookMeta
MarketingItem 6

We participate in one or more wholesale gift card programs pursuant to which a third-party vendor sells gift cards through various distribution channels. As part of this program, when these gift cards are redeemed at both company-owned and Franchisee-owned Bakery-Cafes, the owner of such Bakery-Cafe receives less than the full purchase value of such transaction. Social Media Sites. We may maintain one or more social media sites, applications, and platforms (e.g., Panera App, X (fka Twitter), Facebook, Instagram, Blue Sky, Tik Tok, Pinterest, TikTok, LinkedIn or such other social media sites now or in the future). You may not establish or maintain any social media sites, applications, and platforms utilizing any usernames, or otherwise associating with the Marks, without our prior written consent in our sole and absolute discretion. We may designate from time to time regional or territory-specific usernames/handles to be maintained by you. To the degree we establish a social media

InstagramMeta
MarketingItem 6

We participate in one or more wholesale gift card programs pursuant to which a third-party vendor sells gift cards through various distribution channels. As part of this program, when these gift cards are redeemed at both company-owned and Franchisee-owned Bakery-Cafes, the owner of such Bakery-Cafe receives less than the full purchase value of such transaction. Social Media Sites. We may maintain one or more social media sites, applications, and platforms (e.g., Panera App, X (fka Twitter), Facebook, Instagram, Blue Sky, Tik Tok, Pinterest, TikTok, LinkedIn or such other social media sites now or in the future). You may not establish or maintain any social media sites, applications, and platforms utilizing any usernames, or otherwise associating with the Marks, without our prior written consent in our sole and absolute discretion. We may designate from time to time regional or territory-specific usernames/handles to be maintained by you. To the degree we establish a social media

LinkedInLinkedIn
MarketingItem 6

Social Media Sites. We may maintain one or more social media sites, applications, and platforms (e.g., Panera App, X (fka Twitter), Facebook, Instagram, Blue Sky, Tik Tok, Pinterest, TikTok, LinkedIn or such other social media sites now or in the future). You may not establish or maintain any social media sites, applications, and platforms utilizing any usernames, or otherwise associating with the Marks, without our prior written consent in our sole and absolute discretion. We may designate from time to time regional or territory-specific usernames/handles to be maintained by you. To the degree we establish a social media

PinterestPinterest
MarketingItem 6

We participate in one or more wholesale gift card programs pursuant to which a third-party vendor sells gift cards through various distribution channels. As part of this program, when these gift cards are redeemed at both company-owned and Franchisee-owned Bakery-Cafes, the owner of such Bakery-Cafe receives less than the full purchase value of such transaction. Social Media Sites. We may maintain one or more social media sites, applications, and platforms (e.g., Panera App, X (fka Twitter), Facebook, Instagram, Blue Sky, Tik Tok, Pinterest, TikTok, LinkedIn or such other social media sites now or in the future). You may not establish or maintain any social media sites, applications, and platforms utilizing any usernames, or otherwise associating with the Marks, without our prior written consent in our sole and absolute discretion. We may designate from time to time regional or territory-specific usernames/handles to be maintained by you. To the degree we establish a social media

TikTokTikTok
MarketingItem 6

Social Media Sites. We may maintain one or more social media sites, applications, and platforms (e.g., Panera App, X (fka Twitter), Facebook, Instagram, Blue Sky, Tik Tok, Pinterest, TikTok, LinkedIn or such other social media sites now or in the future). You may not establish or maintain any social media sites, applications, and platforms utilizing any usernames, or otherwise associating with the Marks, without our prior written consent in our sole and absolute discretion. We may designate from time to time regional or territory-specific usernames/handles to be maintained by you. To the degree we establish a social media

TwitterX
MarketingItem 6

We participate in one or more wholesale gift card programs pursuant to which a third-party vendor sells gift cards through various distribution channels. As part of this program, when these gift cards are redeemed at both company-owned and Franchisee-owned Bakery-Cafes, the owner of such Bakery-Cafe receives less than the full purchase value of such transaction. Social Media Sites. We may maintain one or more social media sites, applications, and platforms (e.g., Panera App, X (fka Twitter), Facebook, Instagram, Blue Sky, Tik Tok, Pinterest, TikTok, LinkedIn or such other social media sites now or in the future). You may not establish or maintain any social media sites, applications, and platforms utilizing any usernames, or otherwise associating with the Marks, without our prior written consent in our sole and absolute discretion. We may designate from time to time regional or territory-specific usernames/handles to be maintained by you. To the degree we establish a social media

Franchisor behaviours

What the franchisor requires

21 requirements the franchisor states in this filing, each in its own words; 2 explicit no's; 11 questions the text does not settle, which is not a no.

Accounting

Does the franchisor have direct or independent electronic access to the franchisee's financial, sales or customer records?

Yes

Item 14

We and our Affiliates will own all Customer Data, and we and they may, through the Computer System or otherwise, access Customer Data.

How the franchisor buys

Is there a franchisee advisory council, association or committee?

Yes

Item 20

The Franchise Advisory Council is an advisory committee that functions at Panera’s discretion and includes Panera senior officers and franchisees.

Does the franchisor reserve the right to change designated suppliers or systems at any time?

Yes

Item 14

If, at any time, we reasonably modify or discontinue use of any Intellectual Property (as defined in the Franchise Agreement) and/or use one or more additional or substitute Intellectual Property, you must comply with our directions within a reasonable time after notice.

How much revenue did the franchisor and its affiliates earn from franchisee purchases in the last fiscal year?

236633454

Item 8

In the fiscal year ending December 30, 2025, we derived $236,633,454 in total revenue or other material consideration from required purchases or leases by franchisees, which amount includes rebates on ingredients and food products produced by third parties and sold to franchisees (as further described below).

Does the franchisor or an affiliate receive rebates, commissions or other revenue from designated or approved suppliers?

Yes

Item 8

Either the Distributor or the Bakery Supplier will pay us a rebate with respect to your purchase of Bakery Products from a Distributor equal to the difference between (a) the price you pay for Bakery Products, and (b) the agreed upon price charged to the Distributor by the Bakery Suppliers.

Item 8 gives this proportion in one of two shapes: separate percentages for establishing the business and for operating it, or one figure covering "establishing and operating" together. Where they are separate, answer with the operating percentage; where the passage gives only the combined figure, answer with that. What percentage of the franchisee's purchases must come from designated or approved suppliers?

95

Item 8

Collectively, the purchases and leases described above are approximately 90% of your overall purchases and leases in establishing your Bakery-Cafe and 95% of your overall purchases and leases in operating

Does the franchisor charge a fee to evaluate a proposed supplier?

Yes

Item 8

We may obtain from you and/or such Alternative Suppliers reimbursement of our reasonable costs and expenses incurred in connection with the approval process and on-going monitoring of the supplier’s compliance with our requirements, but we will not profit from the sale to you of items manufactured, produced, or…

Can a franchisee propose a new supplier for the franchisor's approval?

Yes

Item 8

An “Alternative Supplier” is any supplier who has been proposed by you or by another franchisee to manufacture, produce, and/or supply any item, including Food and Beverage Products, and who must be approved by us in writing to do so.

Data and IT

Must the franchisee comply with PCI, data-security or cybersecurity standards set by the franchisor?

Yes

Item 8

It is your responsibility to maintain and report your Payment Card Industry (“PCI”) compliance, which encompasses operational policies and practices as well as networks and POS systems hardware/software used to process credit card transactions, as well as attesting that you are abiding by (i) the PCI Data Security…

Franchise management

Does the franchisor conduct periodic inspections, audits or evaluations of the franchised business?

Yes

Franchise agreement

12. INSPECTIONS OF YOUR BAKERY-CAFE; AUDITS

Must the franchisor approve the franchisee's site or location before opening?

Yes

Item 11

Before you acquire, by lease or purchase, any site for a Panera Bread Bakery-Cafe, you must submit a complete site information package to us.

Marketing

Is a minimum grand opening advertising spend required?

Yes

Item 6

The time to complete the grand opening advertising program, as well as the minimum you must spend is identified in the Franchise Agreement.

Is the franchisee required to spend a minimum amount on local advertising or marketing, as a percentage of sales or a fixed amount?

Yes

Item 6

you must spend 2% of monthly Net Sales on local advertising and promotion of your Bakery-Cafe

Must the franchisee participate in a customer loyalty or rewards program?

Yes

Item 6

You must offer for sale, participate in, and honor for purchases by customers, all gift cards, loyalty and other incentive or convenience programs that we may periodically institute

Must the franchisee participate in a regional advertising cooperative when one exists?

Yes

Item 6

If we have established an Advertising Association in your market area, you must participate in the Advertising Association and its programs and abide by its bylaws.

Operations

Must equipment be purchased from designated or approved suppliers?

Yes

Item 8

you must purchase ingredients, goods, services, supplies, fixtures, equipment and inventory only from suppliers we have approved in writing.

Payments

Must the franchisee participate in a gift card program?

Yes

Item 6

You must offer for sale, participate in, and honor for purchases by customers, all gift cards, loyalty and other incentive or convenience programs that we may periodically institute

People

Does the franchisor require minimum staffing levels or specific roles?

Yes

Item 15

Your Panera Bread Bakery-Cafe must, at all times, be managed by your Operating Principal or by an on-site general or assistant manager or a shift supervisor who has completed our training program to our satisfaction.

Must employees wear uniforms specified by the franchisor?

Yes

Item 8

You must purchase any and all products, goods, services or supplies in connection with developing and/or operating Panera Bread Bakery-Cafes, including (but not limited to) Food and Beverage Products, merchandise, uniforms, packaging materials, POP materials, third-party food delivery services, smallwares, menus…

Point of sale

Does the franchisor have independent access to the data in the franchisee's POS or computer system?

Yes

Item 14

We and our Affiliates will own all Customer Data, and we and they may, through the Computer System or otherwise, access Customer Data.

Training

Can the franchisor charge the franchisee for additional, refresher or remedial training?

Yes

Item 11

In addition to the training program, you must ensure that the Operating Principal and Bakery-Cafe general manager complete continuing certified operations training programs from time to time as we may require to reinforce operational standards (“Continuing Operations Training”).

The filing answers no to 2 questions
  • Is the franchisee prohibited from operating its own website or social media accounts, or required to use pages the franchisor provides?Item 8
  • Is attendance at an annual convention or conference mandatory for the franchisee?Item 11

The vendor opportunity at Panera

Panera reports Item 19 average Net Sales of $2,541,217 across the 1,073 franchisee-owned Bakery-Cafes open the entire fiscal year ending December 30, 2025. The system spans 2,214 units, split 1,106 franchised and 1,108 company-owned, part of JAB Holding Company alongside sibling brand Bruegger's Franchise. The operator footprint maps 85 operators (51 multi-unit) across roughly 1,100 located units, led by OH, FL, CA, PA, and MA. Franchised outlets grew 0.09% year over year.

Who controls software purchasing

CEO Paul Carbone leads Panera's headquarters, alongside Chief Development Officer Patrick Coelho and Chief Manufacturing and Supply Chain Officer Gregg Waterman. Item 11 of the FDD sets Panera's technology requirements for the Bakery-Cafe network.

Tech named in the FDD, and what is actually required

The filing names Facebook, Instagram, LinkedIn, Pinterest, TikTok, and X in Item 6. Beyond those platform names, Panera's Item 11 governs the technology franchisees must run.

Procurement, renewals, and timing

Item 8 runs an approved-supplier list: franchisees must purchase food and beverage products, merchandise, uniforms, packaging, POP materials, third-party food delivery services, and marketing materials only from suppliers Panera has approved in writing, and may propose an Alternative Supplier for review. The initial term runs 20 years for Core and Small Box Bakery-Cafes (10 years for Non-Traditional), and a compliant franchisee may be granted a 10-year successor term under the then-current Franchise Agreement.

How to read the Panera FDD

The embedded viewer below carries Panera's 2026 Franchise Disclosure Document, including the Item 8 language summarized above.

Talk to FranCloud for a ranked list of franchise systems like Panera where the technology mandate and procurement structure line up with your product.

Ordinary royalty terms

Complete royalty terms are not confirmed.

Questions vendors ask

Panera, answered from the filing

CEO Paul Carbone leads Panera's headquarters, alongside Chief Development Officer Patrick Coelho and Chief Manufacturing and Supply Chain Officer Gregg Waterman.
Item 11 of the FDD sets Panera's technology requirements. The filing separately names Facebook, Instagram, LinkedIn, Pinterest, TikTok, and X in Item 6.
The system counts 2,214 Bakery-Cafes, split 1,106 franchised and 1,108 company-owned.
Item 8 runs an approved-supplier list covering food and beverage products, merchandise, packaging, and third-party delivery services; franchisees may propose an Alternative Supplier for approval.
The initial term runs 20 years for Core and Small Box Bakery-Cafes, with a compliant franchisee eligible for a 10-year successor term under the then-current Franchise Agreement — a long cycle that puts most technology-contract leverage at the initial buildout.
The embedded PDF viewer below carries Panera's 2026 Franchise Disclosure Document.
Source

Read the filing itself

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The brands you can actually sell into, from the filings.

Operator footprint

Who runs the locations

85 operators run 1,100 mapped locations. 51 of them are multi-unit. Aggregate counts from the filing; no names.

Operators by units owned

Single-unit34
2–9 units18
25+ units17
10–24 units16

Top states by locations

OH122
FL100
CA91
PA71
MA63

Ownership

The portfolio behind Panera

Ownership: JAB Holding Company.

Sibling brands

Related Quick service restaurant brands

Primary franchise filings · updated September 2026. Read the original filing for definitions, conditions, and qualifications.