A Nothing Bundt Cakes franchise costs $475,200 to $994,100 to open a 1,600 to 1,800 sq ft prototype bakery, and 85% to 91% of the opening purchases must come from required sources, per the April 30, 2026 disclosure document.
Key takeaways
- The prototype bakery’s Item 7 total is $475,200 to $994,100; a bakery larger than 1,800 sq ft is $490,900 to $1,156,200, both in the Nothing Bundt Cakes Franchise Disclosure Document issued April 30, 2026.
- Build-out and equipment carry the cost: Bakery Improvements ($202,000 to $481,000) plus Fixtures and Equipment ($91,000 to $237,000) are 61.7% to 72.2% of the prototype total (Item 7).
- NBC Distribution, an affiliate, is the only designated supplier of certain mixes and decorative design packages, and it booked $137,917,979 from required franchisee purchases in fiscal 2025 (Item 8).
- Weekly deductions are a 6% royalty plus 5% for two marketing funds, collected every Tuesday by EFT, plus $7,572 to $7,812 a year in fixed technology and vendor charges (Item 6).
- Funds managed by Roark Capital own the parent; on March 17, 2026 the parent agreed to be acquired by funds managed by Kohlberg Kravis Roberts & Co. L.P. (Item 1).
- Transfers to new owners rose from 24 in 2023 to 117 in 2025, while 129 bakeries opened in 2025 and none were terminated (Item 20).
What does the Nothing Bundt Cakes franchise build cost, from grease trap to crafting computer?
The Nothing Bundt Cakes franchise build is mostly construction and kitchen equipment. In the 1,600 to 1,800 sq ft prototype, Item 7 prices Bakery Improvements at $202,000 to $481,000 and Fixtures and Equipment at $91,000 to $237,000, together $293,000 to $718,000 of the $475,200 to $994,100 total. Ovens and refrigeration have no rows of their own; Note 5 folds “all large kitchen equipment” into the equipment line.
Note 3 to Item 7 says the improvements line includes “a modified, above-ground grease trap, electrical, carpentry, and similar work,” and that the figures include between $0 and $151,000 of landlord Tenant Improvements that may arrive 3 to 6 months after opening. Note 5 also lists kitchen smallwares, a crafting computer, a digital menu board and shredder capability in that line. Owners cannot act as their own general contractor; a licensed, bonded contractor with food build-out experience is required.
| Item 7 line | Prototype, up to 1,800 sq ft | Larger than 1,800 sq ft | Paid to |
|---|---|---|---|
| Initial Franchise Fee | $45,000 | $45,000 | NBC Franchisor LLC |
| Rent and Security Deposit | $500 to $15,000 | $2,000 to $37,000 | Landlord, utilities |
| Bakery Improvements | $202,000 to $481,000 | $173,000 to $459,000 | Landlord, outside suppliers |
| Architect Design | $7,500 to $17,800 | $11,500 to $17,800 | Approved architect |
| Fixtures and Equipment, Front and Back of Bakery | $91,000 to $237,000 | $132,000 to $375,000 | Designated or approved suppliers |
| Exterior Signage | $5,800 to $22,000 | $3,900 to $29,900 | Designated or approved suppliers |
| Initial Inventory | $25,000 | $25,000 | NBC Distribution and approved suppliers |
| Point of Sale System | $7,800 to $12,500 | $7,800 to $12,500 | Designated or approved suppliers |
| Insurance | $500 to $7,900 | $500 to $21,000 | Insurer |
| Business License and Permits | $600 to $5,900 | $500 to $14,000 | Government agencies |
| Professional Fees | $1,000 to $25,000 | $1,200 to $20,000 | Attorney, accountant |
| Opening Advertising Program | $10,000 to $15,000 | $10,000 to $15,000 | NBC Franchisor LLC |
| Training Expenses | $3,500 to $10,000 | $3,500 to $10,000 | Third parties |
| Additional Funds, 3 months | $75,000 | $75,000 | Employees, suppliers |
| Total | $475,200 to $994,100 | $490,900 to $1,156,200 |
Bakery Improvements and Fixtures and Equipment make up $293,000 to $718,000 of the $475,200 to $994,100 prototype total. Source: Nothing Bundt Cakes FDD issued April 30, 2026, Item 7.
Two costs fall outside both totals. Note 2 excludes water tap and sewer tap fees, which some cities charge per connection, and Note 6 excludes awnings. The $75,000 working-capital line covers payroll for 3 months but no owner draw, per Note 14. Our guide to reading a franchise disclosure document explains how Item 7 notes like these are structured.
Which suppliers does every bakery have to buy from?
Every bakery buys its core mixes and design packages from one affiliate, NBC Distribution Holder LLC of Henderson, Nevada, and its distributed food and non-food goods through Sysco Corporation. Item 8 estimates that required purchases are 85% to 91% of all spending to establish a bakery and 83% to 86% of spending to operate one, so few line items are open to local shopping.
| Supplier or rule | What Item 8 says | Money that flows back |
|---|---|---|
| NBC Distribution (affiliate) | “Presently the only designated supplier” of certain ingredients and mixes, furnishings, merchandise, smallwares and decorative design packages | $137,917,979 from required franchisee purchases or leases, fiscal year ended December 28, 2025 |
| Sysco Corporation | Prime distributor under a master services agreement; all franchisees must buy from Sysco at the agreed pricing | Sysco pays incentives toward the annual convention |
| Designated third-party distribution vendor | Sells products to the franchise system | $634,910 to NBC Franchisor LLC in fiscal 2025 |
| National Grocery Program | Participation is mandatory | Not stated |
| New supplier requests | Answer within 10 business days on best efforts; deemed disapproved after 30 days | Franchisee or supplier pays testing costs |
| Unapproved supplier after notice | Termination right plus a fee | $250 per day |
Item 8 also sets the insurance that protects the cold chain: property cover must include loss of refrigeration, spoilage and contamination, and mechanical and electrical breakdown, with business interruption equal to at least 9 months of operating expenses. General liability must be at least $1,000,000 per occurrence and $2,000,000 aggregate. The Item 8 heading itself comes from the FTC Franchise Rule at 16 CFR 436.5(h), which requires franchisors to disclose these purchase obligations.
How much of the training and manual goes to baking, frosting and crafting?
About half. The Item 11 training table lists 160 hours, 40 in a classroom and 120 on the job, at company bakeries in Dallas, Texas, and baking, frosting and crafting take 81 of them. The Exhibit E table of contents for the 718-page Operations Manual gives those three production chapters 204 pages, against 202 pages for the Quality, Service, and Cleanliness chapter.
| Production step | Operations Manual (Exhibit E) | Initial training, classroom + on-the-job (Item 11) | FDD tie-in |
|---|---|---|---|
| 1. Bake | Chapter 8, Baking: 75 pages | 6 + 34 hours | Mixes from NBC Distribution (Item 8) |
| 2. Cool, flip, wrap, label and store | Sections 08.6 and 08.7: 13 + 4 pages | Within baking hours | Refrigeration monitoring, $500 to $600 activation and $20 to $40 per month (Item 6) |
| 3. Frost | Chapter 9, Frosting: 82 pages, including 09.3 Signature Cream Cheese Frosting | 3 + 19 hours | Frosting equipment section 09.2: 6 pages |
| 4. Craft | Chapter 10, Crafting: 47 pages | 2 + 17 hours | Design packages from NBC Distribution; crafting computer in Item 7 |
| 5. Package | Chapter 7, Packaging: 15 pages | Not listed separately | Approved packaging only (Item 8) |
| 6. Hand-off: pickup, 1PD, 2PD or 3PD | Chapter 12, Delivery: 8 pages | Delivery Procedures: 1 + 0 hours | E-Commerce Program required (Item 12) |
Two trainees attend tuition-free, and one must be the owner or the designated Operator. Each additional or replacement Operator costs $2,500 plus travel, and Item 11 adds up to 5 days of on-site help at opening. Multi-unit owners train the management teams for their second and later bakeries themselves, so the 160-hour program is a one-time transfer of production know-how.
Who owns NBC Franchisor LLC, and what does the KKR agreement mean for a buyer?
NBC Franchisor LLC, a Delaware company formed June 14, 2021, is the franchisor, and NBC Holdings, LLC is its ultimate parent, owned by private equity funds managed by Roark Capital Management since May 14, 2021. On March 17, 2026, NBC Holdings signed a definitive agreement under which funds managed by Kohlberg Kravis Roberts & Co. L.P. will acquire it indirectly.
| Entity | Role in Item 1 | Detail |
|---|---|---|
| NBC Franchisor LLC | Franchisor and owner of the US marks | Offering franchises since August 2021, after the July 2021 Securitization Transaction |
| NBC Funding LLC, NBC SPV Guarantor, NBC Intermediate LLC | Intermediate parents in the securitization chain | All at 5005 Lyndon B. Johnson Pkwy, Suite 600, Dallas |
| NBC Holdings, LLC | Ultimate parent | Owned by Roark Capital funds; KKR funds agreed to acquire it on March 17, 2026 |
| Nothing Bundt Franchising LLC | Predecessor franchisor, 2006 to 2021 | Delivers training and support under a management agreement and acts as sales agent |
| NBC Distribution Holder LLC | Designated supplier | Mixes, smallwares, design packages |
| NBC Bakery Holder LLC | Operates company bakeries | 8 bakeries at fiscal year end 2025 |
| GiftingU, Inc. | Gift card processor | Manages reimbursement of national gift cards redeemed in bakeries |
Item 1 says the KKR transaction was “currently expected to close in the second quarter of 2026” and remained subject to regulatory approvals. As of November 2026 we had not found a closing announcement from KKR or the franchisor, so a buyer should ask which owner will sign the next disclosure document. Item 8 lets the franchisor change specifications and suppliers by written notice, so supplier terms can move under any owner.
The Roark structure also explains the long affiliate list in Item 1: GoTo Foods’ seven franchisors, Inspire Brands’ six US franchisors, Subway since April 2024 and Dave’s Hot Chicken since May 2025. Our study of private equity ownership in 259 FDDs found 55 franchisors (21.2%) naming a private equity or fund owner, with Roark Capital behind 8 of the sampled brands.
The cover pages also carry a state-required “Financial Condition” risk that points to Item 21. The financial statements in Exhibit D, audited by KPMG LLP, show that at December 28, 2025 the franchisor held cash of $2,021 thousand against total assets of $917,880 thousand, of which goodwill was $350,530 thousand and other intangible assets $562,433 thousand, after distributions of $59,540 thousand to its member in 2025.
What gets paid at signing, and to whom?
At signing a single-bakery buyer pays NBC Franchisor LLC the $45,000 franchise fee, the $10,000 Opening Advertising Program and the $750 Master Architect Program fee, and then buys about $16,034 of opening supplies from NBC Distribution. Those four items add up to $71,784, the low end of the cover page’s “paid to the franchisor and its affiliate” figure. None of it is refundable under Item 5.
| Payment (Item 5) | Single bakery | Three-bakery Development Rights Rider | Payee |
|---|---|---|---|
| Initial franchise fee, first bakery | $45,000 | $45,000 | NBC Franchisor LLC |
| Deposit on bakeries 2 and 3 (50% of $45,000 each) | None | $45,000 ($22,500 x 2) | NBC Franchisor LLC |
| Opening Advertising Program, minimum | $10,000 | $10,000 | NBC Franchisor LLC |
| Master Architect Program floor plan | $750 | $750 | NBC Franchisor LLC |
| Initial purchases, estimate | $16,034 | $16,034 | NBC Distribution |
| Subtotal | $71,784 | $116,784 | |
| Extra opening advertising the franchisor may require | Up to $5,000 | Up to $5,000 | NBC Franchisor LLC |
| Maximum | $76,784 | $121,784 |
The remaining $22,500 for each additional bakery is due when its own franchise agreement is signed. Item 5 says the fee is uniform and the franchisor does not finance it; Item 10 adds that no direct or indirect financing is offered for any part of the build.
What comes out of the bakery’s account each Tuesday?
Every Tuesday the franchisor drafts 6% of the prior Monday to Sunday week’s Net Revenues as royalty and 5% for the Production Fund and Paid Media Fund combined, so 11% of Net Revenues leaves by EFT each week. Net Revenues include delivery, shipping, e-commerce and National Account sales, and third-party delivery commissions are added back before the percentage is applied (Item 6, Note 2).
If the point-of-sale feed fails, Note 2 lets the franchisor draft 11% of the prior week’s Net Revenues from the POS records anyway. The fixed charges in Item 6 are smaller but run regardless of sales, and they add up as follows.
| Fixed Item 6 charge | Stated rate | Per year (our arithmetic) |
|---|---|---|
| POS support and software | $3,348 for 12 months | $3,348 |
| Online ordering (E-Commerce Program) | $100 per month | $1,200 |
| VoIP phone service | $100 per month | $1,200 |
| Technology Services Fee | $65 per month | $780 |
| Digital menu board service | $35 per month | $420 |
| Music, plus media player lease | $20 plus $12.00 per month | $384 |
| Refrigeration monitoring | $20 to $40 per month, plus $500 to $600 activation | $240 to $480 |
| Total recurring | $7,572 to $7,812 |
The 11% combined rate sits above the market middle. Our royalty rate study of 239 FDDs found a median royalty of 6% and a median brand fund of 2%, for a median percentage fee load of 8%. Two dessert systems filed in Minnesota in 2026 show where Nothing Bundt Cakes lands.
| Term | Nothing Bundt Cakes | Crumbl | Paris Baguette | Source |
|---|---|---|---|---|
| Initial franchise fee | $45,000 | $50,000 | $50,000 | Item 5 of each FDD |
| Royalty | 6% of weekly Net Revenues | 8% of gross sales | 5% of weekly Gross Sales | Item 6 |
| Marketing fund | 5% (two funds combined) | 2% | 2% currently, up to 3% | Item 6 |
| Item 7 total, single unit | $475,200 to $994,100 (prototype) | $848,566 to $1,472,533 | $727,515 to $1,860,550 | Item 7 |
| Required purchases share | 85% to 91% opening; 83% to 86% operating | 85% to 95% | 95% | Item 8 |
| FDD used | Issued April 30, 2026 | Issued April 6, 2026, amended July 1, 2026 | Issued March 30, 2026 | Minnesota CARDS |
Item 19 is present and runs to six parts. Part I covers 545 franchised bakeries open at least 24 fiscal months, split into thirds, and later parts cover Net Revenues per square foot, a costs analysis, opening-year ramps by vintage, first-year results by market density and a resale analysis. We do not reproduce Item 19 figures; read them in the FDD itself. Our Item 19 study found that 200 of 259 FDDs (77.2%) include one.
How long until the ovens are on, and which deadlines can end the deal?
Item 11 estimates about 6 to 9 months from the agreement’s effective date to opening, and the contract makes 270 days a hard limit. The buyer must also secure an approved location within 90 days, using the franchisor’s designated commercial real estate broker, and finish up to 4 weeks of training in Dallas before opening.
- Day 0: sign the Franchise Agreement and Site Selection Addendum; pay the $45,000 fee, the $10,000 opening advertising payment and the $750 floor-plan fee.
- By day 90: secure an approved location of roughly 2,000 square feet, or the franchisor may terminate (Item 11). Site decisions come within 30 days of a complete package.
- Before construction: approved architect drawings, a possible $500 drawing review, and written approval of final plans.
- Before opening: two trainees complete up to 4 weeks of training in Dallas, Texas.
- By day 270: the bakery must be open (Section 4.4); missing it allows termination with no fee refund.
- Day 365: if the bakery is still not open, termination can follow with no opportunity to cure.
- Within 45 days after opening: hold the grand opening funded by the Opening Advertising Program.
What does the territory protect, and what sales floor comes with it?
The Item 12 territory is a protected area with no set radius: once the bakery opens, no other franchisee may deliver or ship into it. Non-Traditional Sites inside it, such as airports and supermarkets, stay with the franchisor, and third-party delivery apps may route orders to any bakery their algorithms choose without breaching territorial rights.
The franchisee gets a 30-day right of first refusal on mall food courts, food halls, fairs and festivals inside the territory if it meets multi-unit criteria. In return, Item 12 sets a Minimum Net Revenue Requirement. These are contract floors, not a forecast or a financial performance representation.
| Performance period (Item 12) | Minimum Net Revenue Requirement |
|---|---|
| 1st year of operations (pro-rated from opening) | $450,000 |
| 2nd year | $500,000 |
| 3rd year | $550,000 |
| 4th year | $600,000 |
| 5th and later years | $650,000 |
A bakery that misses its floor pays the 6% royalty on the shortfall, must document its “10,000 Bites of Joy” sampling and other marketing, and can be terminated, although the territory itself is not reduced. The cover page flags this as “Sales Performance Required” among five special risks, alongside Texas-only dispute resolution and a spousal guarantee. The term runs 10 years from the opening date with one additional 10-year term under Item 17, and renewal requires a reimage survey 6 to 12 months before expiration.
Is the system growing, and why did resales jump in 2025?
The system is growing and changing hands faster. Item 20 shows franchised bakeries rising from 542 to 771 over 2024 and 2025, with 129 openings in 2025 and no terminations, non-renewals or reacquisitions in any of the three years. Transfers to new owners nearly tripled, from 46 in 2024 to 117 in 2025, while company bakeries fell from 17 to 8.
| Item 20 measure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Franchised bakeries at year end (US and Canada) | 542 | 643 | 771 |
| Bakeries opened (US and Canada) | 83 | 101 | 129 |
| Transfers to new owners (US, Table 2) | 24 | 46 | 117 |
| Transfers as share of US franchised bakeries at start of year (our arithmetic) | 5.3% | 8.6% | 18.3% |
| Ceased operations, other reasons | 0 | 0 | 1 |
| Company-owned bakeries at year end | 17 | 17 | 8 |
Transfers to new owners rose to 117 in 2025, close to the 129 openings, as company bakeries fell from 17 to 8. Source: Nothing Bundt Cakes FDD issued April 30, 2026, Item 20.
In 2025 the franchisor moved its 9 California company bakeries into franchisee hands (Table 4, “Sold to Franchisee”), and California also led franchisee-to-franchisee transfers with 24, ahead of Texas (16), Florida (15) and Ohio (12). The 18.3% transfer share compares with a median of 3.0% a year in our Item 20 turnover index of 220 systems. Table 5 lists 83 signed agreements not yet open and 141 projected franchised openings for fiscal 2026.
Item 20 also states that current and former franchisees signed confidentiality clauses in the last 3 years, and that the independent National Bundt Franchisee Association asked to be listed. Buyers weighing an existing bakery can read our guide to buying a franchise for sale for the resale steps.
Which published Nothing Bundt Cakes figures are out of date?
Several figures in circulation predate the April 30, 2026 FDD, including the franchisor’s own franchise page. The Nothing Bundt Cakes franchise opportunities page, read November 3, 2026, quotes a total of $667,100 to $1,032,500 and an opening time of 9 to 12 months, neither of which matches the current Items 7 and 11.
| Claim in circulation | Where it appears | What the April 30, 2026 FDD says |
|---|---|---|
| Total investment $667,100 to $1,032,500 | Franchisor’s franchise page (undated) | $475,200 to $994,100 prototype; $490,900 to $1,156,200 larger than 1,800 sq ft (Item 7) |
| “Most bakeries open within 9 to 12 months” | Franchisor’s franchise page | About 6 to 9 months, with a 270-day contractual deadline (Item 11) |
| “800+ Bakeries Nationwide” | Franchisor’s franchise page | 779 bakeries at fiscal year end December 28, 2025: 771 franchised and 8 company-owned (Item 20) |
| “Marketing Production Fund 5%” | Franchisor’s franchise page | 5% split between the Production Fund and the Paid Media Fund at the franchisor’s discretion (Item 6, Note 3) |
| Total investment $585,015 to $1,101,001 | A top-ranking FDD cost review, updated October 2025, based on the 2024 FDD | Superseded by the 2026 Item 7 ranges above |
| Ownership not mentioned | A top-ranking FDD cost review, updated October 2025 | Roark Capital funds own the parent; KKR funds agreed to acquire it March 17, 2026 (Item 1) |
The franchisor’s page states published minimums of $750,000 net worth and $250,000 liquid capital per bakery, which match the figures in our franchise affordability study. Those minimums are not in the FDD, so confirm them in writing with the franchise sales team.
Prototype, larger space, three-bakery rider or resale: which fits your capital?
The right entry point depends on liquidity, the space available and how many bakeries a buyer can staff. The thresholds below come from the FDD and the franchisor’s published minimums; a dessert-category alternative with a different supply model is covered in our Crumbl franchise cost breakdown and our Paris Baguette franchise review.
| If your situation is | Then the FDD points to | Figure to plan around |
|---|---|---|
| Liquid capital below $250,000 per bakery | Below the franchisor’s published minimum; ask before applying | $250,000 liquid, $750,000 net worth (franchisor page) |
| A 1,600 to 1,800 sq ft site available | Prototype Item 7 table | $475,200 to $994,100 |
| Only a space over 1,800 sq ft available | Larger-bakery Item 7 table | $490,900 to $1,156,200 |
| Plan for 3 bakeries in one area | Development Rights Rider | $90,000 in fees at rider signing; $520,200 to $1,039,100 for the first bakery including the rider fee |
| Cannot commit to an approved site within 90 days | Termination risk under Item 11 | 90 days to site, 270 days to open |
| Prefer an operating bakery | Resale with franchisor approval (Item 6) | $10,000 transfer fee plus $5,000 transfer opening advertising |
| Spouse unwilling to sign a guarantee | Cover-page Special Risk 2 applies | Personal Guaranty, Exhibit 6 to the Franchise Agreement |
| Need an SBA loan | Brand is on the SBA Franchise Directory as code S1195 | 173 SBA 7(a) loans, FY2020 to June 30, 2026 |
The SBA count comes from the SBA 7(a) and 504 FOIA loan data as tabulated in our SBA Franchise Directory tracker, which also lists 3 SBA 504 loans for the brand. This page is general information, not legal, financial or investment advice; ask a franchise attorney to compare the Item 12 sales floor and the spousal guarantee with your state’s addendum before signing.
How we compiled this
We read the full 317-page Nothing Bundt Cakes FDD issued April 30, 2026, from the Minnesota Department of Commerce CARDS registry, and checked every Item 7 total and Item 5 subtotal by script. We compared it with 2 other 2026 dessert-system FDDs, the franchisor’s franchise page, 16 CFR 436.5 on GovInfo and SBA loan data via our own research reports, all accessed in October and November 2026. We excluded every Item 19 sales, cost and profit figure under this site’s editorial rules.
Frequently asked questions
Is Nothing Bundt Cakes a franchise?
Yes. NBC Franchisor LLC of Dallas, Texas has offered Nothing Bundt Cakes bakery franchises since August 2021, taking over from Nothing Bundt Franchising LLC, which franchised from 2006. At fiscal year end December 28, 2025, Item 20 of the April 30, 2026 FDD counted 771 franchised bakeries in the US and Canada and 8 company-owned bakeries.
How much does a Nothing Bundt Cakes franchise cost?
Item 7 of the April 30, 2026 FDD puts the total at $475,200 to $994,100 for a 1,600 to 1,800 sq ft prototype bakery and $490,900 to $1,156,200 for a larger space. The total includes the $45,000 franchise fee, $75,000 of working capital and $202,000 to $481,000 of improvements in the prototype, but excludes water and sewer tap fees.
What are the requirements to own a Nothing Bundt Cakes franchise?
The franchisor’s franchise page lists a minimum net worth of $750,000 and $250,000 in liquid capital per bakery. The FDD adds operating conditions: two people complete up to 4 weeks of training in Dallas, a certified full-time Operator runs the bakery, a spouse signs the guarantee, and the bakery opens within 270 days and stays open 7 days a week.
How much do Nothing Bundt Cakes franchise owners make?
We leave owner income numbers out of our bakery coverage by editorial rule. Item 19 of the April 30, 2026 FDD has six parts covering 545 franchised bakeries open at least 24 months, including a costs analysis. Owner results depend on the 11% weekly royalty and fund draft, rent, payroll and the 83% to 86% of operating purchases that go to required sources, so read Item 19 directly.
Does Nothing Bundt Cakes offer financing?
No. Item 10 of the April 30, 2026 FDD says the franchisor offers no direct or indirect financing and guarantees no note or lease. The brand is listed on the SBA Franchise Directory as code S1195, and SBA FOIA data shows 173 SBA 7(a) loans and 3 SBA 504 loans under the brand from fiscal 2020 to June 30, 2026.
How long does it take to open a Nothing Bundt Cakes bakery?
Item 11 of the April 30, 2026 FDD estimates about 6 to 9 months from the agreement’s effective date. The contract requires an approved site within 90 days and an open bakery within 270 days, and allows termination without a cure period after 365 days. The franchisor’s web page quotes 9 to 12 months instead.
Sources
- Nothing Bundt Cakes Franchise Disclosure Document, NBC Franchisor LLC, issued April 30, 2026 (Minnesota CARDS document 36672-202605-07), Items 1, 3, 5 to 8, 10 to 12, 17, 19 to 21 and Exhibit E, accessed November 3, 2026.
- Nothing Bundt Cakes, Franchise Opportunities page, accessed November 3, 2026.
- 16 CFR 436.5, Disclosure items, FTC Franchise Rule (GovInfo, 2025 edition), accessed November 3, 2026.
- U.S. Small Business Administration, 7(a) and 504 FOIA loan data, as of June 30, 2026, accessed via our research reports October 2026.
- Crumbl Franchise Disclosure Document, issued April 6, 2026, as amended July 1, 2026, Items 5 to 8, accessed November 3, 2026.
- Paris Baguette Franchise Disclosure Document, issued March 30, 2026, Items 6 to 8, accessed November 3, 2026.