Crumbl
Crumbl franchisees operate a cookie baking and delivery business that provides baked cookies and delivery services.
Crumbl 2026 FDD - Full Diligence Report
View Report#Cookie Baking#Delivery
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Outlet growth and churn by sector
FAQs
These are high-level research questions. Section-specific FAQs appear within each section.
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We do not provide lead generation and we are not brokers, agents, or investment or legal advisors.
If data looks incorrect or you have questions, please contact info@franchisesignal.com.
Investment
Estimated initial investment ranges from the Franchise Disclosure Document
Upfront Investment (Item 7)
Estimated initial investment ranges by category, shown across available years.
Food And Beverage Format Note
For food and beverage brands, Item 7 estimates are often based on a traditional restaurant format. Alternative formats like end-cap, kiosk, inline, mall, food court, or other non-traditional footprints can have meaningfully different investment requirements. Please review the Item 7 footnotes and format assumptions in the FDD before comparing brands.
Category Breakdown
Change In Total Estimated Investment:
+34.4%(3-year period)Calculated using the midpoint of the total estimated range. Earliest year midpoint: $863,250 from $460,166 - $1,266,333 in 2024. Latest year midpoint: $1,160,550 from $848,566 - $1,472,533 in 2026. This shows how the estimated total upfront investment changed from 2024 to 2026.
| Category | 2024 | 2025 | 2026 |
|---|---|---|---|
| Real estate and improvements | $75,000 - $640,000 | $350,000 - $700,000 | $350,000 - $700,000 |
| Equipment, furniture, fixtures, décor, and supplies | $75,000 - $100,000 | $253,000 - $291,000 | $268,000 - $306,000 |
| Additional funds - 3 months | $10,000 - $10,000 | $61,400 - $100,200 | $61,400 - $100,200 |
| Rent - 3 months | $16,666 - $83,333 | $16,666 - $83,333 | $16,666 - $83,333 |
| Initial franchise fee | $50,000 - $50,000 | $50,000 - $50,000 | $50,000 - $50,000 |
| Professional fees | $8,000 - $53,000 | $10,000 - $50,000 | $10,000 - $50,000 |
| Misc. opening costs | $2,500 - $30,000 | $2,500 - $35,000 | $15,000 - $45,000 |
| Initial training fees, and travel, lodging, food, and other expenses while training | $20,000 - $30,000 | $25,000 - $35,000 | $25,000 - $35,000 |
| Signs | $6,500 - $32,000 | $12,000 - $32,000 | $12,000 - $32,000 |
| Opening inventory | $5,000 - $16,000 | $10,000 - $20,000 | $12,000 - $22,000 |
| POS system, computer hardware, and software | $3,500 - $15,000 | $5,500 - $18,000 | $5,500 - $18,000 |
| Opening Box and Ingredient Package | $9,000 - $12,000 | $8,000 - $13,000 | $11,000 - $16,000 |
| Opening Tech Equipment Package | $9,000 - $15,000 | $12,000 - $15,000 | $12,000 - $15,000 |
| Opening General Equipment Package | $170,000 - $180,000 | - | - |
| Total | $460,166 - $1,266,333 | $816,066 - $1,442,533 | $848,566 - $1,472,533 |
FAQs
Franchise Signal can make mistakes. Always verify figures against the latest FDD.
Key Insights
- Estimated initial investment range: $848,566 - $1,472,533.
- Largest line items (by max): Real estate and improvements, Equipment, furniture, fixtures, décor, and supplies, Additional funds - 3 months.
- Change across years (midpoint of total range): +34.4% (2024 to 2026).
- Food and beverage formats can change Item 7 assumptions. Confirm format details in the FDD.
- Item 7 ranges reflect assumptions and footnotes. Read the notes before comparing brands.
- Totals can change without category detail changing if the franchisor updates grouping or definitions.
Fees
Fees
Royalty and ad fund contributions to the franchisor, shown across available years.
| Fee | 2024 | 2025 | 2026 |
|---|---|---|---|
| Royalty | 8% of Gross Sales | 8% of Gross Sales | 8% of Gross Sales |
| Ad Fund | 2% of Gross Sales | 2% of Gross Sales | 2% of Gross Sales |
Values shown here are simplified for readability and may not be the exact fee for your situation. Tier schedules, minimums, and special rules may apply. Always confirm the exact fee definitions, bases, and rules in the FDD.
This is not an exhaustive list of fees. For a full list of fees and YoY delta analysis, please get in touch or refer to the FDD.
FAQs
Franchise Signal can make mistakes. Always verify presented figures against the latest FDD.
Key Insights
- Royalty (latest): 8% of Gross Sales.
- Ad fund (latest): 2% of Gross Sales.
- These are franchisor fees only. They do not represent a full operating budget or pro forma.
- Always confirm the exact fee definitions and rules in Items 5 and 6 of the FDD.
Revenue and Financial Performance
Item 19 representations and disclosures (if provided) and how to interpret the sample.
Revenue (Item 19)
Franchise Signal pulls Item 19 revenue figures for Food and Beverage brands as annual gross sales per unit when possible. Many franchisors limit tables to specific subsets (mature stores, franchised only, company-owned only, or top performers). Pay close attention to which units are included and how revenue is defined. Confirm the definitions in the FDD before comparing across brands.
Over Time (Where Disclosed)
Values below show min, median, average, and max by year when available. YoY percentages reflect 2024 to 2025 only.
| Metric (based on reporting outlets) | 2023 | 2024 | 2025 |
|---|---|---|---|
| Minimum Revenue | $543,554 | $383,711 | $365,129-4.8% YoY |
| Median Revenue | $1,100,536 | $1,303,412 | $1,093,071-16.1% YoY |
| Average Revenue | $1,156,838 | $1,354,688 | $1,139,162-15.9% YoY |
| Max Revenue | $2,927,370 | $3,479,411 | $3,421,762-1.7% YoY |
What financial disclosures does crumbl make available?What revenues did the best and worst performing franchisees report for crumbl?How many units were included in crumbl's Item 19 and what period does it cover?
FAQs
Key Insights
- Reported range: $365,129 to $3,421,762.
- Median reported revenue: $1,093,071.
- Average reported revenue: $1,139,162.
- Multi-year view: 2023 to 2025 (where disclosed).
- Latest YoY change (2024 to 2025): median -16.1%, average -15.9%.
- Item 19 is optional and often selective. Verify definitions and sample rules in the FDD.
System Growth and Stability
Outlet openings, closures, and churn signals (Item 20 Table 3).
Outlet Growth (Item 20)
Outlet counts shown here reflect franchised outlets only, not affiliate or company-owned locations. Some FDDs report these categories separately; always review the Item 20 tables and footnotes to confirm how each type of outlet is classified.
Outlets (latest): 1.1k
Net Growth:
+681%(5-year period)Calculated as (1101 latest-year ending outlets - 141 earliest-year starting outlets) / 141. This measures overall franchised outlet growth from 2021 through 2025.
Churn:
+20.6%(5-year period)Calculated as (29 total terminations + 0 total ceased operations) / 141 earliest-year starting outlets. This measures cumulative exit activity relative to the starting system size from 2021 through 2025.
| Year | Start | Opened | Terminations | Nonrenewals | Reacquired | Ceased | End | Net |
|---|---|---|---|---|---|---|---|---|
| 2021 | 141 | 184 | 0 | 0 | 0 | 0 | 325 | 184 |
| 2022 | 326 | 364 | 0 | 0 | 0 | 0 | 690 | 364 |
| 2023 | 690 | 288 | 7 | 0 | 1 | 0 | 970 | 280 |
| 2024 | 970 | 100 | 12 | 0 | 0 | 0 | 1058 | 88 |
| 2025 | 1058 | 54 | 10 | 1 | 0 | 0 | 1101 | 43 |
Summarize how crumbl's number of franchised outlets has changed over time.What are the main reasons for crumbl's terminations and nonrenewals?How does crumbl's outlet growth compare with competitors in the same sector?
FAQs
Key Insights
- Terminations and nonrenewals are not the same. Terminations are forced exits. Nonrenewals are an end-of-term outcome.
- Ceased operations can include closures, transfers out, or other status changes. Read the footnotes for definitions.
- Reacquired and transfers can make net growth look healthy while hiding churn. Track openings vs exits, not just net.
Litigation Matters
Litigation disclosures, presented neutrally.
Litigation Matters (Item 3)
This section summarizes Item 3 matters disclosed in the FDD. Summaries are simplified for readability and may omit context. Always confirm details in the full Item 3 disclosure and underlying filings when possible.
Latest year
2026
Matters (latest year)
1
Open vs resolved
1 open, 0 resolved
Counts are a starting point. Expand a matter to review allegations, outcomes, and parties.
2026 Disclosures
Lisa Watson and Angela Keers v. Crumbl LLC, Crumbl IP, LLC, Crumbl Franchising, LLC, and Crumbl Enterprises, LLC
litigationFederalpending
2025 Disclosures
Lisa Watson and Angela Keers v. Crumbl LLC, Crumbl IP, LLC, Crumbl Franchising, LLC, and Crumbl Enterprises, LLC
litigationFederalpending
FAQs
Litigation listings are not proof of wrongdoing. Use them to guide diligence and verify details.
Key Insights
- Matters in latest FDD year (2026): 1.
- Latest year mix: 1 open, 0 resolved.
- Item 3 disclosures are summarized and may omit context. Read underlying filings and FDD footnotes.
- Do not assume liability or wrongdoing from a matter listing. Treat as a diligence signal.
FAQs
Additional questions to consider in diligence.
Other Key Items
These questions highlight common diligence topics beyond financial performance. Exact terms vary by brand and can change by agreement version. Always confirm details in the latest FDD and the full franchise agreement.
FAQs
These are general diligence questions. Verify all terms in the latest FDD and the franchise agreement.
Key Insights
- Every franchise system is different. Do not assume terms are standard across brands.
- Talk to multiple current and former franchisees, not just referrals provided by the franchisor.
- Compare agreement terms to other operators in the same industry to calibrate what is normal.
- Verify everything in the latest FDD and the full franchise agreement. Summaries can omit context.
- Ask for plain language explanations of renewal, termination, transfer, and dispute resolution before signing.