Krispy Kreme Franchise Cost: US Status in 2026

As of its 10-K for fiscal 2025, Krispy Kreme reported 303 US shops, all company-owned, and no US franchise shops. On March 23, 2026 it cut its stake in its western U.S. joint venture, W.K.S. Krispy Kreme, from 55% to 20%, and WKS acquired the franchise rights and business of its California shops, per its Form 10-Q for the quarter ended June 28, 2026.

No single-unit US franchise offer is published as of October 14, 2026. Its franchise web address loads a not-found page on that date. The 10-Q says it remains “focused on identifying the right partners both in international markets and the U.S.” That partner strategy does not establish availability for a new single-shop buyer.

How the filings report US vs franchised shops

The fiscal 2025 10-K reports the following shop ownership counts as of December 28, 2025, before the WKS refranchising:

Segment	Company-owned	Franchised	Total
US	303	0	303
International	579	0	579
Market Development	0	1,243	1,243
Total	882	1,243	2,125

The Q2 2026 10-Q’s Global Points of Access table reports these shop counts by type, with the fiscal year-end comparison. It does not provide a company-owned versus franchised split:

Segment / shop type	June 28, 2026	December 28, 2025
US: Hot Light Theater Shops	176	235
US: Fresh Shops	46	68
International: Hot Light Theater Shops	47	52
International: Fresh Shops	448	527
Market Development: Hot Light Theater Shops	180	113
Market Development: Fresh Shops	1,273	1,130
Total Hot Light Theater Shops	403	400
Total Fresh Shops	1,767	1,725
Total Shops	2,170	2,125

Segment-move footnote: The 10-Q states that certain points of access moved from the US and International segments to Market Development during the first quarter of fiscal 2026 because of refranchising. Its segment definitions place W.K.S. Krispy Kreme in Market Development after March 23, 2026 and Japan there after March 2, 2026. Market Development also includes company-owned operations in France after May 25, 2026. Neither segment totals nor changes in those totals should be read as a US franchised-shop count.

What the company reports about refranchising

The 10-K described plans to refranchise certain international company-owned markets and the western US joint venture. The Q2 2026 10-Q reports that the WKS transaction closed on March 23, 2026: WKS’s indirect stake increased from 45% to 80%, while Krispy Kreme’s stake decreased from 55% to 20%. WKS acquired substantially all of the franchise rights, operating assets and business of the Awesome Doughnut-owned and operated Krispy Kreme shops in California.

Internationally, World Coffee Portal reported on February 28, 2025 that chief executive Josh Charlesworth told investors the company would seek master franchising partners for its seven wholly owned international operations: the UK, Ireland, Australia, New Zealand, Japan, Mexico and Canada. This is a dated report of the company’s plans. The Q2 2026 10-Q reports completion of the Japan sale on March 2, 2026 and continued evaluation of refranchising opportunities.

As of its Q2 2026 10-Q, Canada remains in its International segment, which holds company-owned operations.

Royalty and advertising basis in the 10-K

The 10-K’s revenue note states that royalties are “based upon a percentage of franchisee gross sales.” Advertising fees are “based on a percentage of franchisee net sales.” A risk factor elsewhere in the same filing describes international franchisees’ royalties as calculated on net sales, so the filing is not fully consistent on the royalty basis.

These percentages cannot be combined into a single rate without confirming the sales definitions. Confirm each fee’s rate and basis in the applicable FDD and agreement. The FDD walkthrough explains where to look for those definitions.

The filing also gives the term: domestic franchise agreements run “typically 15 years”, international ones “typically 10 to 15 years”, with a renewal fee payable on renewal.

Fiscal 2025 corporate results

The 10-K reports the following corporate results. This page does not give investment advice.

• A net loss of $523.8 million, including a $356.0 million non-cash goodwill impairment, tied in part to the McDonald’s termination and a decline in market capitalization.
• The McDonald’s USA partnership ended, jointly, effective July 2, 2025, removing approximately 2,400 fresh delivery doors. Its chief executive said, in a statement quoted by Restaurant Dive, that efforts to bring costs in line with unit demand were unsuccessful, making the partnership unsustainable.
• Global Points of Access fell 13.5 percent to 15,194.

Not stated in the filings (as of October 14, 2026)

A single-unit US franchise fee, investment range, and liquid-capital and net-worth requirements are not stated in the cited filings. As of October 14, 2026, krispykreme.com/franchise and krispykreme.com/franchising both load a not-found page. No verified figures for those requirements are provided here.

SBA Franchise Directory: Krispy Kreme was not found in the SBA’s Franchise Directory file effective October 9, 2026 (searched Krispy Kreme, checked October 14, 2026). Under SBA SOP 50 10 8.1, a brand that meets the FTC definition of a franchise must be on the Directory for SBA financing, so ask the franchisor and your lender about its status before planning an SBA loan. See how to check the SBA Franchise Directory.

Brands with similar availability questions: Insomnia Cookies, Cracker Barrel, In-N-Out, and Costa Coffee.

For donut and bakery alternatives to research, see the bakery franchise cost guide and Great American Cookies franchise cost guide.

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Questions to ask Krispy Kreme before you sign

• Is any US market being offered to new franchisees, or only refranchised to existing operators?
• Is single-unit franchising available in any market, or is the offer master franchising only?
• What territory, development schedule and minimum unit commitment does a master franchise require?
• What are the actual royalty and advertising percentages, and confirm which is on gross and which on net?
• What does the current Item 20 show for openings, closures and transfers over the last three years?
• How does the refranchising program affect a new franchisee’s territory and support?
• What is the renewal fee at the end of a 15-year term?
• Given the fiscal 2025 results, what changes are planned to franchisee support and supply terms?
• Will a franchise attorney and an accountant review the full FDD with me before I commit?