PANERA
Key figures
| Initial franchise fee | $50,000 |
| Total investment (Item 7) | $1,337,139 – $4,569,880 |
| Royalty (Item 6) | 5% of gross sales |
| Legal name (Item 1) | PANERA, LLC |
| Franchised units (Item 20) | 1106 (Item 20, p.65) |
| Brand website | https://www.panerabread.com |
About PANERA
Panera Bread is a leading bakery-cafe chain offering fresh baked goods, soups, salads, sandwiches, and specialty beverages.
FDD-derived details (fees, outlets, ownership, sourcing)
Panera Bread is a leading bakery-cafe chain offering fresh baked goods, soups, salads, sandwiches, and specialty beverages. MONEY FIGURES (Panera Bread 2026 FDD, issued April 23, 2026): initial franchise fee $50,000 for a Core or Small Box Bakery-Cafe (Item 5, p15); total investment $1,337,139–$4,569,880 for a Core Bakery-Cafe, excluding real estate (Item 7, p22); royalty 5% of Net Sales (Item 6, p16); 2,214 outlets at year-end 2025 — 1,106 franchised + 1,108 company-owned (Item 20 Table 1, p65–66). Source: MN CARDS doc 36220-202604-09, received 04/25/2026.
Due diligence dossier
Every figure below is as disclosed in this brand's own FDD, with its FDD citation. FranchiseKI adds no analysis and estimates nothing.
Risk & history facts
| Litigation matters disclosed (Item 3) | 0 (Item 3, p.12 of the FDD) |
| Bankruptcy (Item 4) | No bankruptcy disclosed (Item 4) (Item 4, p.13 of the FDD) |
Ownership & operations
Training: New Hire New Hire Leader’s Guide & 3 hours, 15 None Cafe Management or Home Bakery- Training Welcome Handout minutes Bakery Leader Cafe 2. (Item 11, p.35 of the FDD)
Company facts
| Initial term | 20 years (Item 17, p.53 of the FDD) |
Questions to ask the franchisor
Generated from what this brand's FDD data does not disclose — ask PANERA directly:
- What liquid capital does the franchisor require of a new franchisee? It is not disclosed in the FDD data we hold for this brand.
- What minimum net worth does the franchisor require? It is not disclosed in the FDD data we hold for this brand.
- What does the brand's recent unit history show over the last three years (Item 20)? Ask about openings. Ask about closures. Ask about transfers. We have not extracted a unit-history table for this brand.
- How exactly is the territory defined and protected (Item 12)? Ask for the territory map and the reserved-rights carve-outs in writing.
Territory — what the FDD says (Item 12)
Under this brand's Item 12 rule, you do not receive an exclusive territory. The franchisor may sell additional franchises in the same area. It may also operate company units there. Or it may sell through other channels. No area is reserved for you. No area is closed to you by another franchisee's exclusivity either. Placement is the franchisor's decision.
The FDD's own words (Item 12): “territory is NOT exclusive - the FDD states you will not receive an exclusive territory. Unless the context otherwise requires, all references to “Panera,” “we,” “us,” or “our” refer to Panera, LLC and all references to “Franchisee,” “you,” or “your” refer to the person who is”
Where PANERA operates today
Per the brand's FDD outlet table (Item 20, Table 3 — franchised outlets by state, latest fiscal year): 1070 franchised units across 40 states.
Projected openings (Item 20, Table 5)
Franchise agreements the FDD projects for the next fiscal year:
Source: panera-bread-fdd-2026-0b0901a0.pdf, Item 20. Counts are the franchisor's own disclosures.
Why two unit counts? The Key figures above cite 1106 franchised units (Item 20, p.65) — the franchisor's reported franchised-unit total. The map above sums Item 20, Table 3 (franchised outlets by state at fiscal year-end), which totals 1070. The two Item 20 figures are compiled on different bases, so they need not match.
Availability
Because this brand grants no exclusive territory, there are no territory-based exclusions: no area is reserved for an existing franchisee, and no area is reserved for you. Whether a new unit is placed anywhere is the franchisor's decision under Item 12.
Next steps with PANERA
Put PANERA on a shortlist. Compare it side by side with two other brands. Check it against your budget in the PerfectFit Quiz. Or talk it through with a vetted consultant. That conversation is free to buyers; call (385) 475-5319. Only the franchisor can confirm current terms. Only the franchisor can confirm territory availability.