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Nothing Bundt Cakes vs Freddy's — which franchise is the better buy?

Side by side from the public FDDs — no franchisor spin.

	Nothing Bundt Cakes	Freddy's
Disclosure honesty	B	C
Investment from	$667,100	$854,834
Total fees	11%	7.5%
Outlets	660	580
Lawsuits	1	0

Nothing Bundt Cakes: what their numbers say

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.

Freddy's: what their numbers say

Discloses gross receipts, cost of sales, labor, controllable/non-controllable expenses, and 4-wall EBITDA for company-owned Midwest restaurants only. Excludes rent, depreciation, above-restaurant overhead, and franchise-specific costs; not representative of franchisee results.

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