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Papa Murphy's Take 'N' Bake Pizza

Papa Murphy's Take 'N' Bake Pizza

The total investment to open a Papa Murphy's Take 'N' Bake Pizza franchise ranges from $323,757 to $733,124. The initial franchise fee is $25,000. Ongoing royalties are 5% plus a 2% advertising fee.

What is the Papa Murphy's Take 'N' Bake Pizza franchise?

Franchise buyers evaluating Papa Murphys Take N Bake Pizza are considering a brand built around convenient, fresh, customizable meals that customers prepare at home. The concept differs from traditional delivery and dine in pizza businesses and addresses demand for a practical at home meal solution.

Papa Aldo's Pizza began in Hillsboro, Oregon, in 1981. Murphy's Pizza was established in Petaluma, California, in 1984 by Robert Graham. In 1988, Terry Collins bought a controlling 51% interest in Murphy's seven store chain for $500,000. He purchased Papa Aldo's 65 stores for $1 million in 1990. The chains merged in 1995 to form Papa Murphy's International, Inc., combining Papa Aldo's operations with Murphy's product quality. The company is headquartered in Vancouver, Washington. Lee Equity Partners of New York City acquired Papa Murphy's in 2010. The company went public through a 2014 Nasdaq IPO as FRSH and returned to private ownership in April 2019 when Canadian based MTY Food Group Inc. acquired it for $190 million. Eric Lefebvre is CEO of the parent company.

By 2003, it had 780 locations in 22 states, with approximately 98% franchised. Store count reached 1,350 in 2012. The brand reported 1,079 global locations at the end of 2024, while other sources cite more than 1,100 outlets, over 1,200 locations, or more than 1,300 outlets. For 2025, projections call for 1,044 total units, including 1,001 franchised owned and 43 company owned locations. In 2020, the system had 1,256 franchised locations across 37 states in the USA, including 682 in the West. The brand operates in the United States, Canada, and the United Arab Emirates and is pursuing hundreds of new locations in Dallas, Phoenix, Raleigh, and Louisville. It competes in the Limited Service Restaurant and quick service pizza markets. The global LSR market was approximately USD 823.96 billion in 2024 and is projected to reach USD 1,518.01 billion by 2035, with a 5.71% CAGR from 2025 to 2035. The U.S. LSR market was $315.1 billion in 2024.

The global Limited Service Restaurant market was valued at approximately USD 823.96 billion in 2024, projected to reach USD 871.02 billion in 2025 and USD 1,518.01 billion by 2035, with a 5.71% CAGR from 2025 to 2035. U.S. The U.S. pizza market is a $46 billion industry expected to grow 10% over the next five years, while quick service pizza exceeds $41 billion. Americans spend $33 billion each year at QSR pizza restaurants, with takeout accounting for $15 billion. The U.S. pizza franchise industry grew 2.9% annually over the past five years, compared with 1.6% for the broader Pizza Restaurant Industry, and is expected to reach $38.4 billion in 2024. Papa Murphys Take N Bake Pizza is recognized as the country's fifth largest pizza franchise.

Demand in this category is supported by interest in convenience, speed, and affordability as consumers manage busier lifestyles. Mobile ordering, delivery platforms, and takeout continue to gain ground, with limited service delivery sales rising over 20% in the past year. Consumers are also seeking plant based, gluten free, and protein focused menu choices. Papa Murphys Take N Bake Pizza's model offers fresh, customizable meals prepared at home, giving families control over the final cooking process. The takeout model has also shown resilience during difficult economic periods, while the $46 billion pizza market leaves room for differentiated concepts.

The initial franchise fee is $25,000 for a first unit and $15,000 for each additional unit. Active military personnel, veterans, law enforcement officers, medical doctors, nurses, emergency medical technicians, and firefighters receive a 50% fee reduction. Reported initial investment ranges include $367,428 to $733,124, $367,244 to $670,498, $308,469 to $557,879 based on a 2022 FDD, $323,757 to $578,163, $286,919 to $524,205, and $296,075 to $534,731 for 2026. Costs include the franchise fee, kitchen equipment, build out, deposits, and other opening expenses. Lease and utility deposits and payments are estimated at $3,000 to $7,500. Leasehold improvements range from $91,015 to $201,969 or from $139,000 to $325,000. Signage is estimated at $7,500 to $11,500 or $9,000 to $25,000.

Applicants generally need at least $125,000 in liquid capital, although some sources state $100,000. The amount may be lower for an existing resale when the total investment is lower. Minimum net worth is $350,000. Recommended working capital is $10,000 to $50,000, representing 3 to 6 months of operating expenses. MTY Food Group Inc.'s $190 million acquisition of Papa Murphy's in 2019 provides corporate ownership and resources. The 50% fee reduction for qualified veterans and other listed professionals may reduce the entry cost.

The operating model centers on assembling fresh, made to order pizzas rather than cooking them in the store. Customers bake the pizzas at home, reducing the need for expensive ovens, complex fire safety systems, and specialized cooking staff. Stores generally measure 1,200 to 1,400 square feet. The franchisor provides recruiting assistance and training. The model can suit an owner operator who participates in daily operations.

Training requires at least 28 days. It includes a 3 day In Store Compatibility Check, a 5 day virtual Foundations Class covering marketing, operations, and P&L tools, and 20 days of in store Operational Training. At least one Franchise Agreement signer must complete the program. Training for up to two people is included in the franchise fee and covers customer service, product preparation, POS operation, employee management, and store marketing. Travel to designated training stores may be required. Additional learning uses print materials, electronic modules, and virtual reality. Corporate support includes operations personnel for openings, ownership transfers, and special events; site selection and lease negotiation assistance; grand opening planning; national print advertising; local marketing; an intranet; weekly operations communications; and the Pulse Realtime application. Growth coaching, refresher training, seminars, and regional meetings are also available. Franchisees receive a location but no exclusive territory. Site decisions consider market analysis, market penetration plans, placement strategy, and prior commitments. Preferred sites often serve middle income suburban residential areas with dinner traffic, convenient parking, and family oriented demographics.

Historical information from a 2022 FDD covered 819 franchised stores operating for 52 weeks ending September 27, 2021.

Average COGS were 31.2%, with a 31.2% median. Average employee labor was 18.7%, with an 18.4% median, while management labor averaged 4.8%, with a 5.2% median. Payroll taxes and benefits averaged 3.1%. Unit growth from 188 locations in 1995 to 1,350 in 2012, followed by reported figures from 1,079 to over 1,300, shows the system's expansion over time.

By 2003, it had 780 locations in 22 states, with 98% franchised, and it reached 1,350 stores in 2012. More recent figures include 1,079 locations at the end of 2024, reports ranging from more than 1,100 to more than 1,300 outlets, and 1,044 projected units in 2025, consisting of 1,001 franchised owned and 43 company owned locations. In 2020, the system had 1,256 franchised locations in 37 U.S. states, including 682 in the West.

MTY Food Group Inc. acquired Papa Murphy's for $190 million in April 2019 after the company returned to private ownership following its 2014 IPO. In 2016, Papa Murphy's introduced a turnkey development program in which corporate identifies and builds locations before a franchisee takes over operations. The take and bake concept uses fresh, made to order pizzas. Dough is made from scratch daily, vegetables are chopped fresh, meats are butchered in house, and fresh mozzarella is shredded daily. Consumer surveys have given the brand number one rankings for food quality, taste, customer service, and value. Restaurants and Institutions magazine named Papa Murphy's the Best Pizza Chain in America in 2003. The at home baking model supported operations during the pandemic. The brand is pursuing smart growth and hundreds of new locations in Dallas, Phoenix, Raleigh, and Louisville.

The typical franchisee has restaurant or retail management experience, adequate liquid capital, and knowledge of food service operations. Operators who participate in daily store activities and build community relationships fit the brand's family focused positioning. The $25,000 first unit fee and $15,000 additional unit fee support a multi unit development strategy.

Papa Murphys Take N Bake Pizza is accepting franchise inquiries in Arizona, Arkansas, California, Colorado, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Mexico, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Utah, Virginia, and Wisconsin. Dallas, Phoenix, Raleigh, and Louisville are identified as growth markets. The brand's most successful markets typically include suburban areas with family

Loan Activity Score

53/100

SBA Default Rate

5.4%

Active Lenders

38

According to its Franchise Disclosure Document or public business records, Papa Murphy's Take 'N' Bake Pizza has 60 locations, all owned by franchisees. Public SBA loan records show 38 lenders made 74 loans to franchisees of Papa Murphy's Take 'N' Bake Pizza. PeerSense calculates Papa Murphy's Take 'N' Bake Pizza's score as 53 out of 100, using public SBA loan performance and recent lending activity.

Franchising since 1981 · 60 locations

Investment

$323,757 to $733,124

Franchise Fee

$25,000

Total Units

60

60 franchised

Loan Activity Score
Very high
53
SBA Lending
17
Lender Quality
11
Transparency
4
Reach
9
Momentum
12

Proprietary PeerSense metric

Moderate
Capital Sources
38SBA lenders

Distinct lenders in public SBA records for Papa Murphy's Take 'N' Bake Pizza

74

Total SBA loans

$527K

Average loan size

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

Referral fee at closing

SBA Lending Activity for Papa Murphy's Take 'N' Bake Pizza

Loan Activity Score Breakdown

Established (25 to 99 loans)

Very High Confidence
53out of 100
Moderate
Market Momentum12/35

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

Loan Safety17/25

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

Lender Confidence11/15

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

Transparency4/15

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

Footprint9/10

Geographic spread of SBA funded locations across states.

SBA Lending Performance

SBA Default Rate

5.4%

vs 10.3% peer avg

SBA Loans

74

Total Volume

$39.0M

Active Lenders

38

10 selective

States

20

vs. SBA Sector Average

+4.9%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 (5.4%)

Data Insights

Key performance metrics for Papa Murphy's Take 'N' Bake Pizza based on SBA lending data

SBA Default Rate

5.4%

4.9% below peer avg

SBA Loan Volume

74 loans

Across 38 lenders

Lender Diversity

38 lenders

Avg 1.9 loans per lender

Investment Tier

Significant investment

$323,757 to $733,124 total

Payment Estimator

Loan Amount$259K
Interest Rate9.5%
Term (Years)10 yr

Estimated Monthly Payment

$3,351

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

Papa Murphy's Take 'N' Bake Pizza, unit breakdown

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

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Papa Murphy's Take 'N' Bake Pizza

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