Nothing Bundt Cakes

Nothing Bundt Cakes began in 1997 in Las Vegas, Nevada, when Debra Shwetz and Dena Tripp baked Bundt cakes from their home kitchens. Debra contributed the frosting recipe, while Dena created the cake recipe. The company is now headquartered in Dallas, Texas. By late 2025, it had more than 700 locations across the United States and Canada. By January 2026, newer figures showed nearly 800 locations in 45 states, up from the 600th bakery opened in Tampa, Florida, in June 2024. Its mission is to “Bring the Joy” through handcrafted Bundt cakes, while its vision centers on hospitality and welcoming everyone. In a United States bakery café and specialty desserts market exceeding $6 billion, and a baked goods retail market that reached US$82.9 billion in 2022, Nothing Bundt Cakes is widely described as a “category of one” because no other national specialty cake business has the same position. PeerSense provides independent research for buyers reviewing the brand and its market position.

The market has grown about 4% to 6% annually, supported by demand for premium handcrafted desserts and gifting. Baked goods retail sales are projected to rise at a compound annual growth rate of 3.1% from 2023 to 2027 and reach US$97.7 billion by 2026. The bakery industry grew 2.9% annually from 2016 through 2021 and reached $11.2 billion in revenue, with projected annual growth of 1.0% from 2021 to 2026. Consumers increasingly use food to show care to relatives and colleagues, while Gen Z has shown interest in “little sweet treats” as snacking becomes more common. In 2022, birthdays, weddings, graduations, seasonal events, and religious celebrations returned closer to pre pandemic patterns, supporting demand for fresh baked goods. Increased travel and family reunions added support. Dessert shops were the fastest growing restaurant concepts in the United States, with openings increasing 52% from March 2023 to April 2024. Nothing Bundt Cakes describes itself as a category of one in national specialty cakes.

The initial franchise fee is $35,000 when the franchise agreement is signed, although some sources report a fee of up to $45,000. Multi unit operators may receive discounts through a Development Rights Rider. Total estimated investment ranges from $483,600 to $699,700. Other analyses report ranges of $667,100 to $1,032,500, $585,015 to $1,101,001, and $667,000 to $907,000. Construction costs, local market conditions, and working capital help explain the differences. The average unit cost last year was just under $750,000. Costs can include a $5,000 grand opening allocation, construction, signage, equipment, inventory, and working capital. The FDD lists a $45,000 franchise fee, rent and security deposits of $0 to $13,000, bakery improvements of $275,000 to $350,000, architectural fees of $11,000 to $13,000, front and back bakery fixtures and equipment of $200,000 to $275,000, exterior signage of $7,500 to $15,000, and initial inventory of $25,000. Other listed costs include a POS system of $7,800 to $12,500, insurance of $2,800 to $5,500, licenses and permits of $1,500 to $10,000, professional fees of $2,500 to $7,500, opening advertising of $10,000 to $15,000, training of $3,500 to $10,000, a delivery vehicle monthly lease or loan payment of $500 to $35,000, and $75,000 for three months of additional funds. Ongoing charges are a 6% weekly royalty on gross sales and a 5% weekly advertising fund contribution for national and local marketing. Candidates and their partners or investors must show at least $250,000 in combined liquid capital, compared with $150,000 in 2021 data, and combined net worth of at least $600,000 or $750,000. Roark Capital, an Atlanta based private equity firm, acquired the company in May 2021. Levine Leichtman Capital Partners previously acquired it in 2016.

The model generally suits owner operators who participate in daily bakery management, though investors with experienced operating partners may also be considered. Bakery or restaurant experience is not required, but the franchisor looks for leadership, customer service, and general business management ability. Bundt cakes produce 97% of sales, while retail products such as party supplies, décor, and gifts produce the remaining 3%. A typical bakery is just over 2,000 square feet, has no dining room or public restrooms, uses limited equipment, and bakes cakes fresh on site. Training is estimated at $3,500 to $10,000. Franchisee support includes real estate and site selection, design and construction assistance, pre opening and grand opening preparation, field consultant coaching, marketing materials, seasonal promotions, and brand campaigns. Technology includes proprietary POS and inventory systems, an ecommerce platform, and company managed digital marketing tools. The company also built a new website for high volume periods. Territories may be protected, with protection varying by location, and multi unit development is available. Preferred areas have median household income above $75,000, strong retail co tenancy, and dense residential populations within a 3 to 5 mile radius. The system is 99% franchised. In San Diego, FS Investors bought nine company owned bakeries and signed an agreement to develop 16 more.

Differences between stronger and weaker locations are tied mainly to site selection, local market penetration, operating execution, and use of marketing and support resources.

Nothing Bundt Cakes grew from a home kitchen business to more than 700 locations across the United States and Canada by late 2025, then nearly 800 locations in 45 states by January 2026. The company opened its 600th bakery in Tampa, Florida, in June 2024. It added 51 bakeries in 2022 and 84 in 2023, anticipated more than 120 openings in 2024, and expects annual unit growth above 150 in the near future. Its plans call for a 1,000th location by 2027 and more than 3,000 United States stores over the long term, with further international potential. As of December 2023, about 60 signed unit commitments had not opened, alongside a pipeline exceeding 560 bakeries and a goal of about 20% annual growth. Roark Capital acquired the company in May 2021, and Dolf Berle became CEO in August 2022, succeeding Kyle Smith. Expansion is concentrated in the Northeast and Northwest, while the South was the largest region with 256 franchise locations in 2024 FDD data. The system is 99% franchisee owned. FS Investors acquired nine San Diego bakeries and agreed to build 16 more. Recognition includes Yelp’s 2023 No. 2 Most Loved Brand, Entrepreneur’s Franchise 500 List, the Inc. 5000 Fastest Growing Private Companies list in 2022, and America’s No. 1 Overall Restaurant Chain in Technomic’s America’s Favorite Chains survey. The brand offers nine core flavors, rotating featured flavors, seasonal products, and a gluten free Chocolate Chip Cookie flavor at select bakeries. Products include eight and 10 inch Bundt cakes, personal sized Bundtlets, cupcake sized Bundtinis, Bundtlet Towers, and Tiered Bundt Cakes. Retail items contribute 3% of sales.

A prospective franchisee should be prepared for active involvement. The franchisor does not require bakery or restaurant experience, but it seeks leadership, customer service, and business management skills. Owner operators are preferred, while investors may work with experienced operating managers. Multi unit development is supported, and discounts may be available through a Development Rights Rider. The FS Investors transaction in San Diego, involving nine existing bakeries and 16 additional commitments, illustrates this approach. Opportunities exist throughout the United States, with current focus on the Northeast and Northwest. The South has the largest concentration, with 256 franchise units in 2024 FDD data. Preferred sites have median household income above $75,000, strong retail co tenancy, and dense residential populations within a 3 to 5 mile radius. Opening preparation includes site selection, design and construction, and franchisee training. The franchise agreement lasts 10 years, with renewal subject to the agreement terms. Specific transfer and resale details are not provided, although the sale of company owned bakeries to a multi unit developer indicates an established process for such transactions.

Nothing Bundt Cakes operates in a large specialty dessert market and merits detailed due diligence. The brand has plans for 1,000 locations by 2027 and more than 3,000 United States stores over time. PeerSense offers independent franchise research that includes SBA lending history, Loan Activity Score, location maps with Google ratings, FDD financial data, and side by side comparison tools. Buyers can review the complete Nothing Bundt Cakes franchise profile on PeerSense for additional franchise intelligence.