FDD ITEM 20 · FISCAL 2021–2023
Cartridge World Item 20: outlets, exits & growth
In its latest FDD Item 20 (fiscal 2023, from the 2024 FDD · 1+ year old), Cartridge World reported 107 franchised outlets at year end. 27 of 135 franchised outlets open at the start of the year left the system (exit rate 20.0%, fiscal 2023), while 0 new outlets opened. Systemwide units moved -37.0% over 2021–2023.
| Status (FTC) | 2021 | 2022 | 2023 |
|---|---|---|---|
| Outlets at start | 198 | 173 | 140 |
| Opened | 1 | 0 | 0 |
| Transfers | 2 | 4 | 1 |
| Terminations | 7 | 12 | 7 |
| Non-renewals | 2 | 5 | 2 |
| Reacquired by franchisor | 0 | 2 | 1 |
| Ceased — other reasons | 12 | 13 | 18 |
| Outlets at end | 173 | 140 | 109 |
| Net change | -25 | -33 | -31 |
7 terminations + 2 non-renewals + 18 ceased (other) = 27 exits ÷ 135 at start = 20.0%
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 (1) are resales, not exits; reacquisitions by the franchisor (1) 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.
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