99 Pancakes Franchise

Total excludes a charge whose amount 99 Pancakes doesn't disclose.

* Breakdown as published by 99 Pancakes. 99 Pancakes confirms 2 charges without disclosing the amount — get it in writing before you pay.

Ways to Partner with 99 Pancakes

4 partner models published by the brand. Figures it doesn't publish are left blank.

How 99 Pancakes says an outlet's numbers work. These are illustrations, not guarantees — check them against existing franchisees before you sign.

99 Pancakes's own claim — no evidence given. These are not FranchiseChuno's estimates or a promise of earnings; ask existing franchisees what they actually make.

PaybackMonths until cumulative profit equals what you invested.

18 months – 30 months

Operating break-evenMonths until monthly profit turns positive — not the same as getting your money back.

3 months – 6 months

Monthly profit

₹1 L – ₹1.5 L

Brand claims, not verified. The franchise page's headline says full payback in 18–24 months; its earnings section and FAQ say payback is typically 24–30 months for the café model. It gives 'typical monthly net income' of ₹1–1.5 L and break-even in 3–6 months, 'depending on location, offline sales and ops efficiency', and a 'detailed P&L' only at interview. Up to 65% gross margin is claimed (gross, not net).

What the press, courts and real franchisees or customers have said about 99 Pancakes — summarised by us, with every source linked.

• In the news· 2024

  Founder: 70 stores before Covid, then almost half were shut

  QSR Media quoted the founder saying 99 Pancakes had 70 branches before Covid-19 shut almost half of its stores, and that it had about 50 at the time of the interview (2024, after the August Series A). The article does not say how many reopened or closed for good. It also reported a revenue target of ₹40 Cr for that year; the FY25 filing shows ₹28.4 Cr.

  Source: QSR Media
• regulatory· FY25

  Franchisor reported a ₹4.9 Cr net loss on ₹28.4 Cr revenue in FY25

  Registrar data via Tracxn show Euphoriya Hospitality Private Limited with FY25 revenue of ₹28.4 Cr (up 18%), EBITDA of -₹3.6 Cr and a net loss of ₹4.9 Cr. This is the franchisor's result, not an outlet's.

  Source: MCA records via Tracxn
• employee_opinion· 2026-09-16★ 3.2/5 · 23 ratings

  Employees rate 99 Pancakes 3.2 out of 5 on AmbitionBox

  3.2 out of 5 from 23 employee reviews (page updated 16 Sep 2026): culture 3.4, job security 3.2, work-life balance 3.2, salary 3.0. One Mumbai reviewer (Dec 2025) wrote that their outlet had no toilet; another (Feb 2026) praised the chance to learn. These are employee views, not franchisee or customer views.

  Source: AmbitionBox
• In the news· 2024-08-27

  Series A of about ₹20 Cr from an unnamed family office (Aug 2024)

  Entrackr reported the round on 27 Aug 2024 and noted an earlier ₹6.5 Cr angel round in Mar 2022. The company said it would add 50 outlets by end-2024 and 200 by Dec 2025 across 50 cities, with Gujarat the focus. Its locator lists 91 distinct outlets in Oct 2026.

  Source: Entrackr

Key Terms at 99 Pancakes

The clauses that shape day-to-day running and your exit — read these before the fee.

Renewal

Café: 5+5+5 years; Express: 4+4 years. Renewal depends on performance and compliance.

Selling the franchise

Ownership can be transferred only with approval after a performance review and evaluation of the new operator.

Exit

Termination is possible for non-compliance with SOPs, poor performance or misuse of brand assets.

Territory

Location exclusivity is not offered.

Who pays for what

Marketing: minimum ₹20,000 a month or 4% of revenue, whichever is higher; the partner handles flyers, local activations and tie-ups, all creatives need approval.

Supply & stock

Only brand-approved vendors execute the outlet set-up.

Other terms

At least 90 hours a month of personal presence is mandatory.

Other terms

Online ordering, menus and delivery-platform listings are run by the central team; discounts are planned jointly.

Legal & Contract Summary

Key contract terms at a glance — read before you sign.

Who Can Apply for 99 Pancakes

Conditions the brand sets for partners, and the licences the business needs.

• Owner involvement: Active owner-operator; minimum 90 hours a month (about 3 hours a day); a manager is allowed but personal involvement is still requiredRequired
• Experience: No food-industry experience needed; training providedPreferred
• Site: Partner finds the property; head office approves layout. Café: 250+ sq ft including 125 sq ft kitchen, ground floor, 12 ft frontage, visibility from 30–50 m, about 3,000 footfall a day, 20 kW powerRequired
• Staffing: Café 4–5 staff plus a manager; Express 3–4 plus a manager; kiosk 2–3 plus a manager (FAQ)Required
• Set-up time: 45–60 days after the site is finalised (FAQ); the page headline says 'opens in 30 days'Preferred
• Family operators: A family member may run the outlet if they complete the mandatory trainingPreferred

About the Brand

99 Pancakes Outlet Network

Cities with Outlets

The franchisor's own company health — separate from what a single franchise outlet earns.

A profitable franchisor doesn't mean profitable franchisees. These are the company's numbers, not an outlet's. A franchisor can grow on fees and supplies while outlets struggle — talk to existing franchisees and see their accounts before you decide.

Company Health Check

What 99 Pancakes's franchisor company has filed with the registrar and the courts — the checks a lawyer would run before you sign.

Status with the registrar

Active

Last AGM

5 Sep 2025

Paid-up capital

₹1.78 L

Auditor

Patel Senghani & Parvadiya

Brand trademark

Brand says '99 Pancakes is a registered trademark' (franchise page); not checked at IP India

Source: MCA records via Tracxn (registrar status, last AGM, auditor, paid-up capital and charges returned; no compliance flag or pending-case counts returned) (checked Oct 2026)

How 99 Pancakes looks once the numbers are checked side by side.

• •Investment in line with the Food & Beverage medianMidpoint ₹25 L vs a category median of ₹24 L across brands on FranchiseChuno.
• !The franchisor company is loss-makingIts latest filed accounts show a net loss. Franchisors that lose money can cut support or change terms — ask how franchise operations are funded.
• ✓Brand operating for 9 yearsFounded in 2017. The brand doesn't state when franchising began.
• ✓Outlet claim matches its store locator91 outlets on its own store locator (Oct 2026), in line with the 95 it claims.
• !3 red flags in the news or public discussionSee Reputation & News below, and ask the brand to address each one.

Ask Before You Sign

Questions tailored to what 99 Pancakes does and doesn't publish.

1. 1Speak to at least 3 franchisees who have run an outlet for 2+ years and see their actual monthly sales and profit — a franchisor making money doesn't mean its franchisees do.
2. 2Ask for the one-time franchise fee in writing, and whether any part is refundable.
3. 3Ask for the royalty and any marketing-fund fee, and how they're calculated (on sales or profit).
4. 4Ask whether you get an exclusive territory, and how large it is.
5. 5Ask how the franchisor funds training and support while it's loss-making.
6. 6Ask the brand to respond to each red flag listed under Reputation & News.
7. 7Have a lawyer review the franchise agreement before paying anything.
8. 8Visit 2–3 existing outlets and speak to their owners without the brand present.

What 99 Pancakes franchisees say

We haven't yet heard from enough 99 Pancakes franchisees to show anything. We publish totals once 3 or more people who run an outlet have answered and we've called each one to check.

Frequently Asked Questions