FDD ITEM 20 · FISCAL 2023–2025
BRUEGGER'S BAGELS Item 20: outlets, closures & growth
In its latest FDD Item 20 (fiscal 2025), BRUEGGER'S BAGELS reported 45 franchised outlets at year end. 3 of 48 franchised outlets open at the start of the year left the system — an annualized exit rate of 6.3%— while 0 new outlets opened. Systemwide units moved -6.6% over 2023–2025.
| Status (FTC) | 2023 | 2024 | 2025 |
|---|---|---|---|
| Outlets at start | 187 | 181 | 178 |
| Opened | 0 | 0 | 0 |
| Transfers | 1 | 1 | 1 |
| Terminations | 3 | 1 | 0 |
| Non-renewals | 0 | 0 | 0 |
| Reacquired by franchisor | 0 | 0 | 0 |
| Ceased — other reasons | 0 | 0 | 3 |
| Outlets at end | 181 | 178 | 169 |
| Net change | -6 | -3 | -9 |
0 terminations + 0 non-renewals + 3 ceased (other) = 3 exits ÷ 48 at start = 6.3%
These are the three FTC Item 20 statuses in which a franchisee involuntarily or terminally leaves the system. Transfers (1) are resales, not exits; reacquisitions by the franchisor (0) are tracked separately. There is no official “failure rate” — this annualized exit rate is the disclosed, measurable floor.
| State | Franchised | Company-owned |
|---|---|---|
| CA | 17 | — |
| AZ | 9 | — |
| NC | 6 | 14 |
| MN | 3 | 21 |
| OH | 3 | 12 |
| SC | 2 | — |
| CT | 1 | 7 |
| KY | 1 | 1 |
| PA | 1 | 10 |
| TX | 1 | — |
| VA | 1 | 0 |
| AL | 0 | 2 |
| CO | 0 | — |
| FL | 0 | 2 |
| IA | 0 | 8 |
| MA | 0 | 12 |
| MI | 0 | 6 |
| NE | 0 | 3 |
| NY | 0 | 20 |
| TN | 0 | 2 |
| VT | 0 | 1 |
| WI | 0 | 3 |
A broker is paid by the franchisor to place you. An independent CPA is paid by you — and the job is pressure-testing BRUEGGER'S BAGELS's numbers, including talking you out of a bad deal.
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