| Nothing Bundt Cakes | Crumbl | |
| Disclosure honesty | B | C |
| Investment from | $667,100 | $816,066 |
| Total fees | 11% | 10% |
| Outlets | 660 | 1,059 |
| Lawsuits | 1 | 1 |
Discloses average Net Revenues ($1.48M), 4-Wall EBITDA (~21.6% avg), COGS, labor, occupancy breakdowns for 297 bakeries. Excludes owner salary from EBITDA, omits D&A, interest, taxes; cherry-picks mature, top-performing subset.
Discloses 2024 avg/high/median/low gross sales, gross profit, net profit for 858 of 1,058 locations. Omits 19% of stores; median net profit $77k vs avg $251k; no owner salary breakout; cherry-picks continuous operators only.
Full net-profit math, financing, red flags. See a sample →