Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS OF MRS. FIELDS' ORIGINAL COOKIES, INC.

|                                    |                                         | 12/29/2001 |        | 12/30/2000 |   | 1/1/2000 |         | 1/29/1999 |        | 1/31/1998 |  
|----------------------------------- | --------------------------------------- | ---------- | ------ | ---------- | - | -------- | ------- | --------- | ------ | --------- | -
|                                    |                                         |            |        |            |   |          |         |           |        |           |  
|FIXED CHARGES:                      |                                         |            |        |            |   |          |         |           |        |           |  
|                                    | Interest on debt and capitalized leases |            | $      | 17,436     |   | $        | 17,853  |           | $      | 17,880    |  
|                                    | Interest in rental expense              |            |        | 8,760      |   |          | 8,725   |           |        | 8,343     |  
|                                    |                                         |            |        |            |   |          |         |           |        |           |  
|TOTAL FIXED CHARGES                 |                                         | $          | 26,196 |            | $ | 25,578   |         | $         | 26,223 |           | $
|                                    |                                         |            |        |            |   |          |         |           |        |           |  
|EARNINGS                            |                                         |            |        |            |   |          |         |           |        |           |  
|                                    | Consolidated net loss                   |            | $      | (22,201    | ) | $        | (19,394 | )         | $      | (8,221    | )
|                                    | Consolidated provision for income taxes |            |        | 21         |   |          | 3,841   |           |        | 218       |  
|                                    | Minority interest                       |            |        | (7         | ) |          | 26      |           |        | (22       | )
|                                    | Fixed charges                           |            |        | 26,196     |   |          | 26,578  |           |        | 26,223    |  
|                                    |                                         |            |        |            |   |          |         |           |        |           |  
|TOTAL EARNINGS                      |                                         | $          | 4,009  |            | $ | 11,051   |         | $         | 18,198 |           | $
|                                    |                                         |            |        |            |   |          |         |           |        |           |  
|RATIOS OF EARNINGS TO FIXED CHARGES |                                         |            | N/A    |            |   | N/A      |         |           | N/A    |           |  
|                                    |                                         |            |        |            |   |          |         |           |        |           |  



QuickLinks