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Crumbl Cookies

Crumbl Cookies

The total investment to open a Crumbl Cookies franchise ranges from $816,400 to $1.4M. The initial franchise fee is $50,000. Ongoing royalties are 8% plus a 2% advertising fee.

What is the Crumbl Cookies franchise?

Crumbl Cookies grew from one cookie shop in Logan, Utah, to more than 1,100 locations across the United States and Canada in fewer than seven years. Cousins Jason McGowan and Sawyer Hemsley founded the company in 2017 after testing hundreds of chocolate chip cookie recipes. Crumbl was incorporated in Utah in February 2018 and began franchising that year. TSG Consumer Partners acquired a stake in May 2025, alongside $500 million in financing. Crumbl's rotating menu, social media presence, and recognizable pink box have helped it become a major name in the bakery franchise category.

The specialty dessert and bakery segment has changed significantly over the past five years as consumers seek visual and shareable food experiences. Crumbl positioned fresh, premium cookies as a dessert and gifting experience. Its weekly menu features six flavors from a library of more than 150 proprietary recipes, encouraging customers to return for new offerings and limited favorites. Insomnia Cookies and regional copycat concepts have entered the category, but Crumbl's scale, early position, and social media infrastructure have helped it maintain distance from competitors. Gifting, experiential dining, and visually distinctive products continue to support demand for this type of concept.

The initial franchise fee is $50,000. Total initial investment for one location ranges from $816,066 to $1,442,533, while development of three locations requires $2,448,198 to $4,327,599. The royalty fee is 8 percent of gross sales, and the advertising and brand fund contribution is 2 percent of gross sales. Cooperative arrangements may bring total marketing contributions to approximately 3.5 percent. Financial requirements include minimum liquid capital of $150,000 to $200,000 and estimated net worth of approximately $500,000. The franchise agreement lasts 10 years with renewal options. Crumbl does not provide direct franchisor financing, so franchisees generally seek SBA loans, conventional bank financing, or private capital. SBA lending data available through PeerSense shows how federal lending programs have evaluated Crumbl franchise applications.

Crumbl's operating model focuses on producing six rotating cookie flavors from scratch with proprietary recipes and standardized preparation methods. Its open kitchen lets customers watch cookies being mixed, formed, and baked. Staffing is leaner than in a full service restaurant, although daily production requires more culinary skill than many QSR operations. Training totals approximately 50 to 60 hours across three phases: 30 to 40 hours of self guided online coursework, 10 to 12 days at Crumbl's facility in Orem, Utah, and 7 to 10 days at the franchisee's location with a dedicated field trainer. Annual reviews and mandatory franchisee meetings support brand standards. Food service experience is not required, but Crumbl prefers candidates with multi unit management backgrounds. The weekly menu requires careful supply coordination, recipe execution, and staff training every seven days.

This followed a 37 percent decline from the fiscal 2022 peak of approximately $1,830,000.

The brand averaged 276 new locations per year from 2021 through 2023, including 264 net new units in 2022 and 281 in 2023. It opened only 81 to 87 new locations in 2024. Closures rose from 7 in 2023 to 14 in 2024. The rotating menu generates 15 to 20 million weekly social media impressions, largely through organic user generated content. Crumbl has 9.7 million TikTok followers and 6.1 million Instagram followers. Its mobile app ranks as the number six most downloaded food and drink application in the Apple App Store, ahead of Domino's, Taco Bell, and Chipotle. The pink box also serves as a visible marketing asset. The May 2025 TSG Consumer Partners investment and $500 million in debt financing support continued domestic expansion, development across 25 Canadian locations, and exploration of markets including Australia.

The likely Crumbl franchisee is an entrepreneurial operator with the resources for single or multi unit development and the management ability to lead a team through weekly menu changes. Food service experience is not required, while multi unit management or business ownership experience is strongly preferred. Territory availability also deserves close review. With more than 1,100 domestic locations, some prime markets may be saturated or approaching saturation. Canada's 25 open locations and potential development in Australia and other international markets may offer additional opportunities. The 10 year agreement provides an operating window, and well run locations in strong markets may carry resale value as the system matures.

Crumbl Cookies offers franchise investors a dessert concept with strong consumer demand, broad social media reach, and a distinctive operating model. The full Crumbl Cookies franchise profile on PeerSense gives buyers independent information for evaluating the investment.

Loan Activity Score

72/100

SBA Default Rate

0.0%

Active Lenders

90

According to its Franchise Disclosure Document or public business records, Crumbl Cookies has 253 locations, all owned by franchisees. Public SBA loan records show 90 lenders made 290 loans to franchisees of Crumbl Cookies. PeerSense calculates Crumbl Cookies's score as 72 out of 100, using public SBA loan performance and recent lending activity. Cost figures are based on the 2026 Franchise Disclosure Document.

2026 FDD VERIFIEDBaked Goods Stores

Franchising since 2017 · 253 locations

Investment

$816,400 to $1.4M

Franchise Fee

$50,000

Total Units

253

253 franchised

Loan Activity Score
Very high
72
SBA Lending
25
Lender Quality
13
Transparency
10
Reach
10
Momentum
14

Proprietary PeerSense metric

Strong
Capital Sources
90SBA lenders

Distinct lenders in public SBA records for Crumbl Cookies

290

Total SBA loans

$576K

Average loan size

Source: public SBA 7(a) and 504 loan records through December 31, 2025

Referral fee at closing

SBA Lending Activity for Crumbl Cookies

Loan Activity Score Breakdown

Major Brand (100+ loans)

Very High Confidence
72out of 100
Strong
Market Momentum14/35

Are lenders increasingly or decreasingly funding this brand? Growing trends score highest.

Loan Safety25/25

Blended default rate (recent + all time) compared to NAICS sector peers.

Lender Confidence13/15

Quality lenders actively backing this brand, with penalty for lender pullback.

Transparency10/15

FDD availability, Item 19 disclosure, and overall data completeness.

Footprint10/10

Geographic spread of SBA funded locations across states.

SBA Lending Performance

SBA Default Rate

0.0%

vs 10.3% peer avg

SBA Loans

290

Total Volume

$167.1M

Active Lenders

90

21 selective

States

43

vs. SBA Sector Average

+10.3%lower default rate

SBA loan default rate vs. all franchises in the same NAICS sector, not limited to direct competitors

Key Highlights

Low SBA default rate (0.0%)
Item 19 financial data disclosed
253 locations nationwide

Data Insights

Key performance metrics for Crumbl Cookies based on SBA lending data

SBA Default Rate

0.0%

10.3% below peer avg

SBA Loan Volume

290 loans

Across 90 lenders

Lender Diversity

90 lenders

Avg 3.2 loans per lender

Investment Tier

Premium investment

$816,400 to $1,443,700 total

Crumbl Cookies: Deep SBA Data

Brand specific metrics derived directly from SBA 7(a) approval records: peak lending year, leading state, average loan size, and lender concentration. PeerSense computes these per brand so capital advisors and prospective franchisees can benchmark this opportunity against the rest of the franchise universe.

Peak SBA Year

2022

81 approvals. The best year on record for Crumbl Cookies.

Top SBA State

California

33 SBA financed Crumbl Cookies locations, the densest operator footprint.

Average Loan Size

$576K

Median $468K. Use as a sizing anchor when modeling your own Crumbl Cookies unit.

Lender Concentration

17.6%

Highly Diversified

Share of Crumbl Cookies approvals captured by the top 3 SBA lenders.

Crumbl Cookies's SBA lending pipeline peaked in 2022 (81 approvals). The last five fiscal years account for 92% of cumulative volume ($161M approved). Operator density is highest in California with 33 SBA financed locations. Average funded ticket sits at $576K, with the median at $468K. Lender mix is highly diversified: the top three SBA lenders account for 17.6% of approvals. Borrowers have leverage to shop multiple credit boxes.

Payment Estimator

Loan Amount$653K
Interest Rate9.5%
Term (Years)10 yr

Estimated Monthly Payment

$8,451

Principal & Interest only

Indicative only, as of October 1, 2026. Not a quote, commitment or offer of credit. Final pricing, leverage and terms are determined by the lender at underwriting, after full transaction materials are reviewed. PeerSense sources the file. The lender sets pricing. What these terms mean.

Locations

Crumbl Cookies, unit breakdown

Total Units
N/A
Franchisee Owned
n/a
System Owned
n/a
Closed
n/a

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4 FDDs Available for Crumbl Cookies

Review franchise fees, investment ranges, royalties, Item 19 financial data, and year over year trends. Request complimentary access through your PeerSense funding advisor.

Crumbl Cookies

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; it does not lend, fund, or approve loans, and 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