Wetzel's Pretzels franchise research

Investment by format

Format-specific estimates only. Do not combine one format's minimum with another format's maximum.

Investment sourceFDD p.42 ↗

Franchise fees and ongoing costs

Franchise fee

$20,000 to $40,000 · Extracted Item 5 scalar range, not a universal minimum or maximum; formats, eligibility, discounts and waivers require original-filing review.

Royalty

7% · % of Adjusted Gross Revenue, paid weekly: 7% Non-Street-Front Bakery (6% if inside a Walmart), 5% Street-Front Bakery

Marketing contribution

1% (basis not captured; see original filing)

Technology fee

$29.50 weekly currently; may rise to approx. $300 monthly; plus approx. $30/month supplier software fees

Other fees

Ad fund 1% non-street-front / 2% Walmart / 3% street-front of Adjusted Gross Revenue (cap 3% / 4% / 5%); Gift card redemption fee 11% of redemptions monthly; Sublease fee $200/month if subleasing from franchisor

Working capital (FDD Item 7)

Additional Funds - first 90 days: $25,000 to $55,500 (wages for 3 full-time and 6 part-time employees, opening cash, rent $4,000-$12,500/month for three months, technology fees, misc.)

Fees sourceFDD p.33 ↗

Working capital is drawn from Item 7. The Investment source below locates the investment section, not an independently verified working-capital scalar.

Investment sourceFDD p.42 ↗

Franchise fee sourceFDD · page not captured ↗

Financial performance: Item 19

Item 19 captured

Yes

Metric / basis

Average, median, highest and lowest Adjusted Gross Revenues by location type (Table 1); revenue ranges for regional/outlet malls (Table 2); average and median P&L including Net Operating Income for regional/outlet mall Bakeries (Tables 3A/3B)

Reporting period

Fiscal year ended November 30, 2025

Sample

295 franchised Bakeries (Table 1, all formats combined; 21 Concession Trucks/Trailers reported separately); 147 franchised regional/outlet mall Bakeries for the P&L tables

Reported average

$813,125

Reported median

$669,622

Owner income is not captured. Gross sales and EBITDA are not owner pay. Results depend on the disclosed metric, sample and period; consult the full filing.

Item 19 performance sourceFDD p.81 ↗

Unit growth: Item 20

Reporting year

2025

Scope

franchised outlets

Starting outlets

390

Year-end outlets

423

Net change

+33

Derivation

ending minus starting outlets

Openings

48

Terminations

1

Non-renewals

1

Other closures

13

Reacquisitions

0

Transfers

13

Transfers are not closures. Net change is ending minus starting outlets for the stated scope and year, or complete openings less terminations, non-renewals, other closures and reacquisitions. Missing inputs stay unknown.

Unit growth sourceFDD p.87 ↗

SBA loan history

Loan activity

46 approvals

Activity window

FY2021-FY2026 YTD; snapshot 2026-06-30

Median SBA loan

$480,650

Median loan window

FY2023-FY2026 YTD through 2026-06-30

Median loan sample

34 loans

Historical charge-off share

3.92%

Cohort

7(a) FY2010-2019 approvals

Numerator / denominator

2 / 51

Formula

CHGOFF / (PIF + CHGOFF + EXEMPT) × 100

This is a historical loan-level share, not a franchise failure probability or location survival rate. Loan size is not total investment. Other loan statuses are excluded from the seasoned denominator. Activity combines 7(a) and 504 approvals, excluding canceled and not-funded records; this is not a rolling five-year count. FY2024-25 franchise tags are sparse after directory suspension; fewer tagged loans do not establish brand decline. Recent charge-off cohorts are immature.

SBA loans sourceSBA data · Jun 30, 2026 ↗

Median loan amounts are financing context, not startup cost. The median window is separate from the seasoned charge-off cohort.

Median SBA loan sourceSBA data · Jun 30, 2026 ↗

Questions before you invest

How much does Wetzel's Pretzels franchise cost?

Standard Bakery (mall/shopping center, 600-800 sq ft): $188,500 to $725,450; Bakery co-branded with affiliate concept: $147,000 to $231,250; Remote Mobile Unit (add-on to a Bakery): $73,300 to $147,000; Convenience-store location (Item 7 note estimate): $70,000 to $150,000; Travel Plaza location (Item 7 note estimate): $150,000 to $300,000 These are format-specific estimates, not a guaranteed cash requirement. Franchise fee: $20,000 to $40,000 · Extracted Item 5 scalar range, not a universal minimum or maximum; formats, eligibility, discounts and waivers require original-filing review..

Investment sourceFDD p.42 ↗

Franchise fee sourceFDD · page not captured ↗

How much do Wetzel's Pretzels owners make?

Owner income is not captured. Gross sales and EBITDA are not owner pay. Item 19 metric: Average, median, highest and lowest Adjusted Gross Revenues by location type (Table 1); revenue ranges for regional/outlet malls (Table 2); average and median P&L including Net Operating Income for regional/outlet mall Bakeries (Tables 3A/3B). Sample: 295 franchised Bakeries (Table 1, all formats combined; 21 Concession Trucks/Trailers reported separately); 147 franchised regional/outlet mall Bakeries for the P&L tables. Period: Fiscal year ended November 30, 2025.

Item 19 performance sourceFDD p.81 ↗

What's the SBA charge-off rate for Wetzel's Pretzels?

3.92%; numerator / denominator: 2 / 51. Historical 7(a) FY2010-2019 approvals; CHGOFF / (PIF + CHGOFF + EXEMPT) × 100, snapshot 2026-06-30. This is not a franchise failure probability. Median SBA loan: $480,650; window: FY2023-FY2026 YTD through 2026-06-30; sample: 34 loans. Median financing is not total investment.

SBA loans sourceSBA data · Jun 30, 2026 ↗

Median SBA loan sourceSBA data · Jun 30, 2026 ↗