2026 FDD Item 19, p. 63 Checked Nov 3, 2026
Panera Bread Franchise Revenue (2026 FDD)
In Item 19 of its 2026 Franchise Disclosure Document, Panera Bread reports average Annual Net Sales, Franchisee-Owned Bakery-Cafes of $2,541,217 (52-week fiscal year ended December 30, 2025, 1,073 franchisee-owned Bakery-Cafes open throughout the fiscal year). The figures below are selected disclosures, not a substitute for reading the full Item 19.
Startup cost: a Panera Bread franchise costs an estimated $1,337,139 – $4,569,880 to open (Item 7). See the full Panera Bread franchise cost breakdown.
Does Panera Bread’s Item 19 show profit or owner pay?
No. Panera Bread’s Item 19 reports sales but no profit, costs or owner pay. Rent, payroll, supplies, loan payments and Item 6 fees such as the royalty (5% of Net Sales) come out of sales before an owner is paid, so these figures cannot show what an owner earns.
What Panera Bread discloses (Item 19)
Source: Panera Bread 2026 FDD, Item 19, PDF p. 63.
| Figure | Value | Period | Based on |
|---|---|---|---|
| Average Annual Net Sales, Franchisee-Owned Bakery-Cafes | $2,541,217 | 52-week fiscal year ended December 30, 2025 | 1,073 franchisee-owned Bakery-Cafes open throughout the fiscal year (Item 19, PDF p. 63) |
Item 19 sample and definitions
Item 19 separately reports $2,680,192 average Net Sales and $543,080 average EBITDA for 1,087 company-owned Bakery-Cafes; those are not franchisee results and are not entered as a franchisee profit metric. The franchisee Net Sales group includes 1,073 Bakery-Cafes open for the full 52-week fiscal year; the franchisor says those sales came from unaudited royalty reports. The FDD says its statements are not relevant to Non-Traditional Bakery-Cafes. Net Sales exclude stated taxes, refunds and approved discounts but do not deduct Store expenses or establish owner pay.
How to interpret Panera Bread’s Item 19 figures and sample limits · What Item 19 does and does not show about owner pay.
Technology charges include a percentage of Digital Net Sales, but Item 19 does not disclose the digital share of total Net Sales. Core and Small Box local advertising spending also has a temporary reduced rate. A single total-sales figure cannot establish every ongoing fee base or the applicable local rate. Reported sales are not owner income.
Scope of these figures: The selected Panera Bread disclosures above retain their recorded periods and samples. The lead figure covers 1,073 franchisee-owned Bakery-Cafes open throughout the fiscal year. They do not establish take-home owner income or the results of a new outlet. Read the linked Item 19 for the franchisor's definitions and exclusions.
Full Panera Bread franchise cost breakdown · Payback calculator (enter your own assumptions)
Sources
Panera, LLC Franchise Disclosure Document, issued April 23, 2026, as filed with the Minnesota Commerce (CARDS). Read the source FDD PDF. How to get this FDD yourself.
- Item 5: cited PDF p. 15
- Item 6: cited PDF p. 16
- Item 7: cited PDF p. 21
- Item 19: cited PDF p. 63
- Item 20: cited PDF p. 71
- Agreement term (Item 17): cited PDF p. 53
Page references for Panera Bread use the PDF viewer's digital page count, not printed page headers. Some viewers download the document instead of opening the referenced page.
If the state document viewer does not open, use Minnesota Commerce's public filing instructions to look up the filing by franchisor name and document date.
Document & verification changelog
- November 3, 2026: Source check completed against the recorded FDD.
- November 3, 2026: Initial cost profile published from the 2026 Franchise Disclosure Document (issued April 23, 2026).