FDD ITEM 20 · FISCAL 2023–2025
Ben's Soft Pretzels Item 20: outlets, exits & growth
In its latest FDD Item 20 (fiscal 2025, from the 2026 FDD), Ben's Soft Pretzels reported 81 franchised outlets at year end. 3 of 78 franchised outlets open at the start of the year left the system (exit rate 3.8%, fiscal 2025), while 6 new outlets opened. Systemwide units moved +8.6% over 2023–2025.
| Status (FTC) | 2023 | 2024 | 2025 |
|---|---|---|---|
| Outlets at start | 82 | 81 | 85 |
| Opened | 4 | 13 | 6 |
| Transfers | 10 | 4 | 2 |
| Terminations | 0 | 3 | 0 |
| Non-renewals | 2 | 2 | 0 |
| Reacquired by franchisor | 1 | 2 | 0 |
| Ceased — other reasons | 3 | 3 | 3 |
| Outlets at end | 81 | 85 | 88 |
| Net change | -1 | +4 | +3 |
0 terminations + 0 non-renewals + 3 ceased (other) = 3 exits ÷ 78 at start = 3.8%
These are the three FTC Item 20 statuses in which a franchised outlet left the system — including voluntary non-renewals and outlets that ceased for other reasons, which can include sales or absorption into another franchise. Transfers (2) are resales, not exits; reacquisitions by the franchisor (0) are tracked separately. There is no official “failure rate”, and not every exit is a closure or a failure; Item 20 does not say why any outlet left. On a small starting base, a single exit moves this rate sharply.
| State | Franchised | Company-owned |
|---|---|---|
| IN | 38 | 7 |
| MI | 8 | — |
| TX | 7 | — |
| WI | 5 | — |
| FL | 4 | — |
| OH | 4 | — |
| AL | 3 | — |
| KY | 3 | — |
| IL | 2 | — |
| AR | 1 | — |
| AZ | 1 | — |
| MN | 1 | — |
| NC | 1 | — |
| NY | 1 | — |
| OK | 1 | — |
| RI | 1 | — |
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