Buying a Papa Murphy's Take 'N' Bake Pizza franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 29 7(a) loans to buy an existing Papa Murphy's Take 'N' Bake Pizza (classified mostly as Limited-Service Restaurants), totaling $23.2M. The median loan was $378,000, 41% lower than the $645,250 median for all SBA-financed acquisitions. 6 of these loans were approved in the last two fiscal years.
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What this tells a buyer
- Price range to expect. Loan size tracks purchase price. Half of Papa Murphy's Take 'N' Bake Pizza resale loans landed between $310,500 and $572,000.
- Lender experience exists. Plumas Bank alone has financed 5 Papa Murphy's Take 'N' Bake Pizza resales.
- Guaranty. The SBA guaranteed 73% of the dollars lent here.
- What the file leaves out. The SBA file does not record franchisor transfer terms or fees.
Financing a Papa Murphy's Take 'N' Bake Pizza resale
The median SBA 7(a) loan for a Papa Murphy's Take 'N' Bake Pizza resale was $378,000 across 29 loans (FY2018 to FY2026). Plumas Bank, First Mid Bank & Trust, National Association and Western State Bank have financed the most Papa Murphy's Take 'N' Bake Pizza resales. Too few of these loans are old enough to measure a charge-off rate; the average for all SBA acquisition loans is 3.5%.
Papa Murphy's Take 'N' Bake Pizza acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 5 | $1.6M | $265,000 | |
| FY2019 | 2 | $722K | $361,000 | |
| FY2020 | 5 | $6.8M | $550,000 | |
| FY2021 | 4 | $1.6M | $390,500 | |
| FY2022 | 5 | $2.7M | $350,000 | |
| FY2023 | 1 | $2.6M | $2,605,000 | |
| FY2024 | 1 | $930K | $930,000 | |
| FY2025 | 2 | $868K | $434,000 | |
| FY2026 | 4 | $5.4M | $847,000 |
How often do these acquisition loans fail?
Fewer than 20 Papa Murphy's Take 'N' Bake Pizza acquisition loans are old enough to measure losses reliably, so no charge-off rate is shown. The benchmark across all SBA acquisition loans in the FY2018 to FY2021 cohort is 3.5% by count. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
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Lenders financing Papa Murphy's Take 'N' Bake Pizza resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Plumas Bank | 5 | 17.2% | $1.6M | |
| 2 | First Mid Bank & Trust, National Association | 3 | 10.3% | $1.4M | |
| 3 | Western State Bank | 3 | 10.3% | $1.1M | |
| 4 | Northwest Bank | 2 | 6.9% | $4.1M | |
| 5 | Washington Trust Bank | 2 | 6.9% | $3.7M | |
| 6 | SouthState Bank, National Association | 2 | 6.9% | $1.1M | |
| 7 | KeyBank National Association | 1 | 3.4% | $5M | |
| 8 | Stearns Bank National Association | 1 | 3.4% | $1.2M | |
| 9 | Celtic Bank Corporation | 1 | 3.4% | $930K | |
| 10 | Glacier Bank | 1 | 3.4% | $541K |
States where Papa Murphy's Take 'N' Bake Pizza units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | California | 7 | 24.1% | $2.9M | |
| 2 | Wisconsin | 4 | 13.8% | $1.6M | |
| 3 | Colorado | 4 | 13.8% | $1.5M | |
| 4 | Washington | 3 | 10.3% | $8.7M | |
| 5 | Utah | 3 | 10.3% | $2.1M | |
| 6 | Illinois | 3 | 10.3% | $1.4M | |
| 7 | Oregon | 1 | 3.4% | $2.6M | |
| 8 | Minnesota | 1 | 3.4% | $1.2M | |
| 9 | Idaho | 1 | 3.4% | $541K | |
| 10 | Alaska | 1 | 3.4% | $322K |
Terms signed in the LOI shape the purchase agreement that follows.
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Questions buyers ask
How much do buyers borrow to buy a Papa Murphy's Take 'N' Bake Pizza franchise?
The median SBA 7(a) loan for a Papa Murphy's Take 'N' Bake Pizza resale was $378,000 across 29 loans (FY2018 to FY2026). The middle half of loans ran from $310,500 to $572,000. The loan excludes the buyer's equity and any seller note and may include working capital, so the price is usually higher than the loan.
Which banks finance Papa Murphy's Take 'N' Bake Pizza acquisitions?
Plumas Bank has made the most SBA acquisition loans for Papa Murphy's Take 'N' Bake Pizza (5, 17% of the total). First Mid Bank & Trust, National Association, Western State Bank, Northwest Bank follow.
What interest rate and term do Papa Murphy's Take 'N' Bake Pizza acquisition loans carry?
The average initial rate at approval was 7.11% (a blend of fixed and variable loans across several rate environments, so treat it as context, not a quote). The median term was 10 years.
Is a Papa Murphy's Take 'N' Bake Pizza resale riskier than other SBA-financed acquisitions?
Too few Papa Murphy's Take 'N' Bake Pizza acquisition loans are old enough to measure. The benchmark for all SBA acquisition loans is 3.5% charged off in the FY2018 to FY2021 cohort.
Where are Papa Murphy's Take 'N' Bake Pizza units being bought with SBA loans?
California (7), Wisconsin (4), Colorado (4), Washington (3), Utah (3). State counts follow where the brand has units and where SBA lending is most active generally; see the state pages for the overall picture.
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Related
- All Limited-Service Restaurants acquisitions
- California acquisitions
- Wisconsin acquisitions
- Colorado acquisitions
- Plumas Bank
- First Mid Bank & Trust, National Association
- Northwest Bank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Papa Murphy's Take 'N' Bake Pizza" (franchise code S1274). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.