FDD ITEM 20 · FISCAL 2018–2025
BOR RESTORATION Item 20: outlets, exits & growth
In its latest FDD Item 20 (fiscal 2025, from the 2026 FDD), BOR RESTORATION reported 71 franchised outlets at year end. 8 of 72 franchised outlets open at the start of the year left the system (exit rate 11.1%, fiscal 2025), while 7 new outlets opened. Systemwide units moved +44.9% over 2023–2025.
| Status (FTC) | 2018 | 2019 | 2020 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Outlets at start | 4 | 11 | 13 | 21 | 49 | 72 |
| Opened | 8 | 2 | 3 | 30 | 25 | 7 |
| Transfers | 1 | 0 | 0 | 2 | 5 | 4 |
| Terminations | 0 | 0 | 1 | 1 | 1 | 3 |
| Non-renewals | 0 | 0 | 0 | 0 | 0 | 0 |
| Reacquired by franchisor | 0 | 0 | 0 | 0 | 0 | 0 |
| Ceased — other reasons | 0 | 0 | 1 | 2 | 1 | 5 |
| Outlets at end | 11 | 13 | 14 | 49 | 72 | 71 |
| Net change | +7 | +2 | +1 | +28 | +23 | -1 |
3 terminations + 0 non-renewals + 5 ceased (other) = 8 exits ÷ 72 at start = 11.1%
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 | 15 | — |
| CO | 11 | 0 |
| NC | 4 | — |
| GA | 3 | — |
| KY | 3 | — |
| MN | 3 | — |
| MO | 3 | — |
| OK | 3 | — |
| TN | 3 | — |
| AL | 2 | — |
| AR | 2 | — |
| AZ | 2 | — |
| MI | 2 | — |
| OH | 2 | — |
| FL | 1 | — |
| ID | 1 | — |
| IL | 1 | — |
| IN | 1 | — |
| KS | 1 | — |
| MA | 1 | — |
| MD | 1 | — |
| NJ | 1 | — |
| NV | 1 | — |
| PA | 1 | — |
| SC | 1 | — |
| UT | 1 | — |
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