Cookie Co vs SMALLCAKES
Cookie Co vs SMALLCAKES: Cookie Co costs $233K to $553K to open; SMALLCAKES costs $70K to $120K. Cookie Co has 11 units, SMALLCAKES has 11. SBA loan history: Cookie Co = 14 loans (7.1% default); SMALLCAKES = 13 loans (23.1% default). The franchise with more SBA funded units, a lower SBA default rate, and a lower royalty load is the safer financing bet; see the comparison below.
Cookie Co vs SMALLCAKES: Capital, Scale & Lending Analysis
Analysis based on FDD filings and SBA 7(a) loan level data. Each pairing reflects a unique combination of capital intensity, system scale, and financing path.
Capital Intensity
SMALLCAKES requires the lower minimum capital commitment ($70K vs $233K for Cookie Co), a 232% spread. Initial franchise fees come in at $35K for Cookie Co versus $40K for SMALLCAKES, Cookie Co has the lower entry fee. Ongoing royalty load is 7% for Cookie Co and 4% for SMALLCAKES, giving SMALLCAKES the lighter per-unit drag on operating income.
System Scale & Tenure
On scale, SMALLCAKES operates 11 units to Cookie Co's 11. SMALLCAKES has been operating 53 years (founded 1973) versus 6 for Cookie Co (founded 2020), a 47-year tenure gap that affects unit-economics maturity and FDD revision history.
SBA Lending Profile
Cookie Co has the deeper SBA lending track record, with 14 7(a) approvals compared with 13 for SMALLCAKES.
Risk Signal
SBA default rates are 7.1% for Cookie Co and 23.1% for SMALLCAKES, Cookie Co has the cleaner SBA loss record by 16.0 points. PeerSense FPI scores come in at 45 (Fair) for Cookie Co and 26 (Fair) for SMALLCAKES, giving Cookie Co the stronger composite signal across SBA performance, lender appetite, and operational consistency.
Health & Performance
FPI Score | 45/100 | 26/100 |
Health Tier | Fair | Limited |
Confidence | N/A | N/A |
Lending Trend | N/A | Declining |
SBA Lending
SBA Loans | 14 | 13 |
SBA Volume | – | – |
Default Rate | 7.1% | 23.1% |
Peer Tier | growing | growing |
Investment & Costs
Total Investment | $233K to $553K | $70K to $120K |
Franchise Fee | $35K | $40K |
Royalty Rate | 7% | 4% |
Ad Fund | N/A | N/A |
Liquid Capital | N/A | N/A |
Net Worth Required | N/A | N/A |
Financial Performance (Item 19)
Item 19 Status | Not Disclosed | Not Disclosed |
System Size & Operations
Total Units | 11 | 11 |
Franchised Units | 11 | 11 |
Company Owned | – | – |
Term Length | N/A | N/A |
Brand Information
Year Founded | 2020 | 1973 |
Franchising Since | N/A | N/A |
Years Franchising | N/A | N/A |
Headquarters | Lehi, UT | Naperville, IL |
Category | Baked Goods Stores | Baked Goods Stores |
Website | ||
FDD Year | N/A | N/A |
Which Is Better, Cookie Co or SMALLCAKES?
Lower upfront capital required
Tie
Cookie Co: $233K starting · SMALLCAKES: $70K starting
More SBA lender confidence
Cookie Co
Cookie Co: 14 SBA loans · SMALLCAKES: 13 SBA loans
Lower SBA default rate
Cookie Co
Cookie Co: 7.1% · SMALLCAKES: 23.1%
Larger system & brand presence
Tie
Cookie Co: 11 units · SMALLCAKES: 11 units
Lower ongoing royalty load
SMALLCAKES
Cookie Co: 7% · SMALLCAKES: 4%
More lender financing options
SMALLCAKES
Cookie Co: 6 unique lenders · SMALLCAKES: 11 unique lenders
Decision matrix uses publicly disclosed FDD and SBA loan data. Not a recommendation. Your best franchise depends on capital, market, operating capacity, and risk tolerance.
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About These Franchises
Cookie Co vs SMALLCAKES: Franchise Funding Comparison
Comparing Cookie Co and SMALLCAKES is about more than brand preference. It's about which franchise fits your financial profile and funding strategy. Investment ranges from $70K to $553K.
Cookie Co has 14 SBA loans on record and SMALLCAKES has 13. Those totals are cumulative history rather than a measure of current appetite. Recent lending activity is trending down for at least one of these brands, so current lender appetite has to be checked deal by deal rather than assumed from the totals.
SBA 7(a) loans are the most common franchise funding vehicle, offering up to $5M with as little as 10% down. PeerSense connects franchise buyers with the specific lenders who have approved loans for these brands, not generic referrals, but lenders with actual franchise lending track records.
Data sourced from SBA loan records, Franchise Disclosure Documents, and public filings. Updated regularly. Not financial advice, consult with a lending professional before making investment decisions.
Cookie Co vs SMALLCAKES, Frequently Asked Questions
Which is a better franchise investment, Cookie Co or SMALLCAKES?
How much does a Cookie Co franchise cost compared to SMALLCAKES?
Can I finance Cookie Co or SMALLCAKES with an SBA loan?
Which has a lower SBA default rate, Cookie Co or SMALLCAKES?
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Page Review
Reviewed by Edward L. Freeman, Founder and Managing Director, PeerSense
- PeerSense is a capital advisory firm that places commercial financing with direct capital sources; the capital source sets final terms.
- Edward L. Freeman founded PeerSense in January 2020.
- He is a Registered Franchise Consultant with Business Alliance, Inc., a credential issued in March 2022, and worked as a franchise consultant there from March 2022 to May 2023.
- His recorded experience includes a $22 million SBA construction loan, with about $16 million funded on the deal.
- In the 12 months through September 30, 2026, PeerSense tracked 912 publicly announced financings with a disclosed size of $361.32 billion. PeerSense Capital Data Report · Methodology page
Last reviewed LinkedIn profileAbout Edward Freeman