Auntie Anne's^®

Food & Beverage • Year: 2025

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What Is Auntie Anne's?

Auntie Anne's is a retail franchise specializing in fresh-baked soft pretzels, lemonade, and related foods and beverages. Franchisees operate Full Shops in malls, travel plazas, airports, outlet centers, casinos, strip centers, storefronts, and train stations, and may also operate Satellite Retail Units (kiosks/carts) and temporary Concession Shops (farmers' market stands, concession trailers, or food trucks). Revenue streams include in-shop product sales, potential alcoholic beverage sales at Full Shops, and wholesale or licensed sales of Auntie Anne's–branded products to supermarkets, convenience and club stores and other retail or foodservice outlets.

Auntie Anne's Franchise: Pros and Cons

With 1,193 outlets nationwide-placing it in the top 5% for Food & Beverage-the brand offers strong scale, broad recognition, supplier and marketing leverage, and proof the model works across many markets; however, 41 outlet terminations (top 5%) signal elevated churn that can destabilize local markets and raise operator turnover costs.

Pros

1,193 total outlets-well above typical for Food & Beverage (top 5%)-gives you scale: stronger brand recognition, supplier and marketing leverage, and evidence the model works across many locations.

Initial franchise fee of $10,500-well below typical for Food & Beverage (bottom 10%)-lowers your upfront cash requirement and leaves more working capital for build-out and early operations.

No franchisee-initiated judgments, no franchisee-initiated settlements, and no franchisor-initiated enforcement actions-well below typical for Food & Beverage (bottom 5%)-indicates unusually low formal legal conflict in the system, reducing legal risk and distraction for operators.

Cons

41 outlet terminations-well above typical for Food & Beverage (top 5%)-signals an elevated rate of operators leaving the system, which creates churn you may have to manage and can depress local market stability.

Three government agency penalties or orders-above typical for Food & Beverage (top 10%)-shows the brand has attracted regulatory scrutiny, which may require extra compliance effort and oversight at the unit level.

0 company-owned units-well below typical for Food & Beverage (bottom 5%)-means the franchisor does not operate locations directly, limiting their ability to field-test changes and maintain hands-on operational experience that benefits franchisees.

Lawsuits & Legal Risk

88/100

NORMAL

Auntie Anne's disclosed affiliate settlements addressing no‑poaching provisions and a data‑security consent order; affiliates resolved these matters via settlement without admitting liability and the disclosures state they did not involve Auntie Anne's. Due diligence: review your franchise agreement for employee‑solicitation/no‑poach clauses, post‑termination hiring limits, cybersecurity obligations, breach‑notification practices, and relevant insurance.

Territory Protection

43/100

NORMAL

Auntie Anne's grants site-specific, non-exclusive rights with limited protected Areas of Protection for co‑branded streetside shops (case-by-case, up to one block urban/one‑mile non‑urban); the franchisor retains the right to develop additional units nearby, use alternative distribution channels (e‑commerce), and reduce protections contingent on meeting performance quotas.

Training & Support

52/100

NORMAL

Auntie Anne's provides a robust 85-hour training curriculum designed to prepare two designated franchisee personnel for launch. The program includes on-site launch support for operational readiness, with franchisees responsible for travel and living expenses and on-site assistance provided subject to an additional fee.

Unit Growth Analysis

Auntie Anne's is at 1,193 units and growing about 2.2% annually-this is a Sleepy Giant: institutional-scale stability rather than rapid expansion. With 1,182 franchised locations and no company stores, a new owner should expect predictable, lower-risk cash flow and strong brand recognition, but limited territory upside, modest franchisor bandwidth for aggressive local growth, and a purchase that’s a steady operating job more than a high-return growth bet.

How Much Does It Cost to Open an Auntie Anne's Franchise?

Opening an Auntie Anne's franchise requires a total initial investment of $156,175 to $638,300, according to the 2025 Franchise Disclosure Document. This range covers the franchise fee, real estate, equipment, training, and initial working capital needed to launch and operate through the early months.

Minimum Investment

$156,175

Franchise Fee

Real Estate

Equipment & Assets

Reserves

Training

Other

Maximum Investment

$638,300

Minimum Investment Breakdown

Franchise Fee$35,500

Real Estate$31,000

Equipment & Assets$48,050

Reserves$15,000

Training$3,600

Other$23,025

Maximum Investment Breakdown

Franchise Fee$35,500

Real Estate$305,000

Equipment & Assets$168,300

Reserves$54,000

Training$14,000

Other$61,500

Investment Analysis

This investment analysis is coming soon. Have ideas for other analyses you'd like us to add? Get in touch.

The initial investment amounts shown are estimates only. Actual costs may vary based on location size, business model, and multi-unit ownership arrangements. We recommend reviewing the full Franchise Disclosure Document for complete details.

How Much Do Auntie Anne's Franchise Owners Make?

Auntie Anne's franchise locations reported average gross sales of $762,534 and median gross sales of $712,668 in 2025, based on financial performance data disclosed in Item 19 of the Franchise Disclosure Document.

Average Gross Sales:

$762,534

Median Gross Sales:

$712,668

High Gross Sales:

$2,982,611

Low Gross Sales:

$25,133

Sample Size:

498

Percent Attaining Average:

44.0%

Audit Status:

Unaudited

Franchise vs Corporate Performance: Across the franchise formats for Fiscal Year 2024 there are clear differences in top-line performance. Airport franchises show the highest average net sales (Total average $1,816,883; median $1,769,075) and the largest single-location high ($4,075,095). Cinnabon co‑branded locations average $1,200,635 (median $1,168,931). Outlet center franchises average $922,671 (median $892,254). Enclosed mall franchises report the lowest systemwide average net sales at $762,534 (median $712,668). These differences reflect location type as a primary driver of revenue potential.

Performance Variability Analysis: There is substantial variability within each format. Example: enclosed mall top-quartile average is $1,211,625 while bottom-quartile average is $379,019; the enclosed mall range spans $25,133 to $2,982,611. Airport shops likewise show wide dispersion (quartile averages from $723,122 to $3,004,682 and a low of $407,113 to a high of $4,075,095). Across tables roughly 44% of shops attained or exceeded the table-level average (Table 1 total = 220/498 = 44%), indicating the average is driven upward by higher-performing outliers and that fewer than half of shops meet or exceed that average. Medians are generally slightly below averages, consistent with right-skewed distributions driven by top performers.

Data Scope and Limitations: The figures reported are unaudited net sales for Fiscal Year 2024 and do not reflect costs of goods sold, operating expenses or net income - COGS and net income are not provided in Item 19. Coverage/sample: the enclosed mall table represents 498 of 526 enclosed mall locations (94.7%); outlet table represents 95 of 105 outlets; airport table represents 36 of 41 airports; Cinnabon co‑branded table represents 60 of 66 co‑branded locations. The franchisor states it did not audit or independently verify the submitted franchisee financial reports, and therefore the numbers should be used only as historical net‑sales benchmarks rather than guarantees of future profitability.

Frequently Asked Questions

Is Auntie Anne's a good franchise to own?

Whether Auntie Anne's is a good franchise depends on your goals, experience, and local market. Key factors from the 2025 FDD: Auntie Anne's operates 1193 locations, received a legal risk score of 88/100, a training and support score of 52/100. Financial performance data is disclosed in Item 19. Prospective franchisees should review the full Franchise Disclosure Document and consult with a franchise attorney before making any investment decision.

Is an Auntie Anne's franchise worth the investment?

The value of an Auntie Anne's franchise investment depends on factors such as location, operator experience, and market demand. The initial investment ranges from $156,175 to $638,300. Auntie Anne's disclosed average gross sales of $762,534 in 2025. The system reported 41 terminated units in 2025. Franchise investments carry inherent risk, and prospective buyers should conduct thorough due diligence before committing capital.

What is the failure rate of Auntie Anne's franchises?

In the 2025 FDD, Auntie Anne's reported 41 terminated franchises and 8 non-renewals out of 1193 total locations. Franchise closures can result from many factors including market conditions, operator decisions, lease expirations, and franchisor enforcement actions. The FDD's Item 20 provides the most detailed unit turnover data.

How long does it take to break even with an Auntie Anne's franchise?

Break-even timelines for Auntie Anne's franchises are not disclosed in the 2025 Franchise Disclosure Document. Break-even periods vary significantly based on initial investment level, local market conditions, operating costs, and revenue ramp-up speed. Prospective franchisees should build a pro forma financial model using Item 7 cost estimates and, where available, Item 19 financial performance data from the FDD.

Is Auntie Anne's a franchise or a corporate-owned business?

As of the 2025 FDD, Auntie Anne's operates 1182 franchised locations and 0 company-owned locations. Franchise opportunities are available through the franchisor's disclosure process.

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