BAB, Inc.

BAB, Inc. franchises and licenses bagel and muffin retail units. The company operates through three wholly owned subsidiaries: BAB Systems, Inc., BAB Operations, Inc., and BAB Investments, Inc. BAB Systems, Inc., incorporated on December 2, 1992, primarily franchises Big Apple Bagels® (BAB) specialty bagel retail stores. My Favorite Muffin (MFM) was acquired in 1997 and is part of Systems. Brewster's, established in 1996, sells its coffee in BAB and MFM locations. SweetDuet® (SD) frozen yogurt can be added as an additional brand in BAB or MFM locations. BAB Operations, Inc., formed in 1995, was established to operate company-owned stores, of which there are currently none. The assets of Jacobs Bros. Bagels were acquired in 1999, and this trademark is used for any branded wholesale business. BAB Investments, Inc., incorporated in 2009, is for acquisitions, though none have occurred to date. As of November 30, 2025, the company had 60 franchise units and 3 licensed units operating in 18 states, with 4 additional units under development. Revenues are primarily generated from ongoing royalties and initial franchise fees paid by franchisees. Additional revenue comes from the sale of licensed products, including My Favorite Muffin mix and Brewster's coffee, to franchisees, licensees, and other approved customers. The BAB franchised brand, operating as "Big Apple Bagels®," offers daily baked bagels, flavored cream cheeses, premium coffees, gourmet bagel sandwiches, and other related products. BAB units are mainly concentrated in the Midwest and Western United States.