FDD ITEM 20 · FISCAL 2023–2025
CLOSET & STORAGE CONCEPTS Item 20: outlets, closures & growth
In its latest FDD Item 20 (fiscal 2025), CLOSET & STORAGE CONCEPTS reported 6 franchised outlets at year end. 0 of 7 franchised outlets open at the start of the year left the system — an annualized exit rate of 0.0%— while 0 new outlets opened. Systemwide units moved -8.3% over 2023–2025.
| Status (FTC) | 2023 | 2024 | 2025 |
|---|---|---|---|
| Outlets at start | 12 | 12 | 11 |
| Opened | 0 | 0 | 0 |
| Transfers | 0 | 1 | 0 |
| Terminations | 0 | 0 | 0 |
| Non-renewals | 0 | 0 | 0 |
| Reacquired by franchisor | 0 | 0 | 1 |
| Ceased — other reasons | 0 | 1 | 0 |
| Outlets at end | 12 | 11 | 11 |
| Net change | 0 | -1 | 0 |
0 terminations + 0 non-renewals + 0 ceased (other) = 0 exits ÷ 7 at start = 0.0%
These are the three FTC Item 20 statuses in which a franchisee involuntarily or terminally leaves the system. Transfers (0) are resales, not exits; reacquisitions by the franchisor (1) are tracked separately. There is no official “failure rate” — this annualized exit rate is the disclosed, measurable floor.
| State | Franchised | Company-owned |
|---|---|---|
| AZ | 1 | — |
| CO | 1 | — |
| CT | 1 | — |
| MA | 1 | — |
| NC | 1 | — |
| NV | 1 | — |
| CA | 0 | — |
| NJ | 0 | 1 |
| PA | 0 | 2 |
A broker is paid by the franchisor to place you. An independent CPA is paid by you — and the job is pressure-testing CLOSET & STORAGE CONCEPTS's numbers, including talking you out of a bad deal.
Talk to an independent CPA before you buy →