FDD ITEM 20 · FISCAL 2023–2025
BIG FROG Item 20: outlets, exits & growth
In its latest FDD Item 20 (fiscal 2025, from the 2026 FDD), BIG FROG reported 74 franchised outlets at year end. 8 of 75 franchised outlets open at the start of the year left the system (exit rate 10.7%, fiscal 2025), while 7 new outlets opened. Systemwide units moved 0.0% over 2023–2025.
| Status (FTC) | 2023 | 2024 | 2025 |
|---|---|---|---|
| Outlets at start | 76 | 74 | 75 |
| Opened | 1 | 5 | 7 |
| Transfers | 8 | 8 | 4 |
| Terminations | 0 | 3 | 1 |
| Non-renewals | 0 | 0 | 0 |
| Reacquired by franchisor | 0 | 0 | 0 |
| Ceased — other reasons | 3 | 1 | 7 |
| Outlets at end | 74 | 75 | 74 |
| Net change | -2 | +1 | -1 |
1 terminations + 0 non-renewals + 7 ceased (other) = 8 exits ÷ 75 at start = 10.7%
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 (4) 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 |
|---|---|---|
| TX | 13 | 0 |
| FL | 10 | 0 |
| GA | 6 | 0 |
| CA | 4 | 0 |
| MN | 4 | 0 |
| NC | 4 | 0 |
| OH | 4 | 0 |
| IL | 3 | 0 |
| MI | 3 | 0 |
| TN | 3 | 0 |
| AZ | 2 | 0 |
| CO | 2 | 0 |
| NJ | 2 | 0 |
| NY | 2 | 0 |
| OR | 2 | 0 |
| AR | 1 | 0 |
| MO | 1 | 0 |
| NH | 1 | 0 |
| NM | 1 | 0 |
| NV | 1 | 0 |
| PA | 1 | 0 |
| SD | 1 | 0 |
| UT | 1 | 0 |
| WI | 1 | 0 |
| LA | 0 | 0 |
| MD | 0 | 0 |
| NE | 0 | 0 |
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