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

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

	Wetzel's Pretzels	Nothing Bundt Cakes
Disclosure honesty	B	B
Investment from	$188,500	$667,100
Total fees	8%	11%
Outlets	458	660
Lawsuits	1	1

Wetzel's Pretzels: what their numbers say

Discloses average/median/high/low Adjusted Gross Revenue by location type and P&L data for regional/outlet mall stores showing avg net operating income ~$190K. Excludes new stores, affiliate units, incomplete reporters; no owner salary deducted from labor.

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.

Get the real owner take-home for either — $149

Full net-profit math, financing, red flags. See a sample →