FDD ITEM 20 · FISCAL 2023–2025
Crispy Cones Item 20: outlets, closures & growth
In its latest FDD Item 20 (fiscal 2025), Crispy Cones reported 18 franchised outlets at year end. 1 of 5 franchised outlets open at the start of the year left the system — an annualized exit rate of 20.0%— while 14 new outlets opened. Systemwide units moved +320.0% over 2023–2025.
| Status (FTC) | 2023 | 2024 | 2025 |
|---|---|---|---|
| Outlets at start | 2 | 5 | 8 |
| Opened | 3 | 3 | 14 |
| Transfers | 0 | 1 | 2 |
| Terminations | 0 | 0 | 1 |
| Non-renewals | 0 | 0 | 0 |
| Reacquired by franchisor | 0 | 1 | 0 |
| Ceased — other reasons | 0 | 0 | 0 |
| Outlets at end | 5 | 8 | 21 |
| Net change | +3 | +3 | +13 |
1 terminations + 0 non-renewals + 0 ceased (other) = 1 exits ÷ 5 at start = 20.0%
These are the three FTC Item 20 statuses in which a franchisee involuntarily or terminally leaves the system. Transfers (2) 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 |
|---|---|---|
| UT | 3 | 1 |
| FL | 2 | — |
| TN | 2 | — |
| TX | 2 | — |
| AR | 1 | — |
| AZ | 1 | 1 |
| ID | 1 | 1 |
| IN | 1 | — |
| NC | 1 | — |
| NJ | 1 | — |
| PA | 1 | — |
| SC | 1 | — |
| WA | 1 | — |
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