FDD ITEM 20 · FISCAL 2023–2025
Exit Factor Item 20: outlets, closures & growth
In its latest FDD Item 20 (fiscal 2025), Exit Factor reported 88 franchised outlets at year end. 5 of 30 franchised outlets open at the start of the year left the system — an annualized exit rate of 16.7%— while 63 new outlets opened. Systemwide units moved +2200.0% over 2023–2025.
| Status (FTC) | 2023 | 2024 | 2025 |
|---|---|---|---|
| Outlets at start | 1 | 4 | 34 |
| Opened | 0 | 30 | 63 |
| Transfers | 0 | 0 | 4 |
| Terminations | 0 | 0 | 4 |
| Non-renewals | 0 | 0 | 0 |
| Reacquired by franchisor | 0 | 0 | 0 |
| Ceased — other reasons | 0 | 0 | 1 |
| Outlets at end | 4 | 34 | 92 |
| Net change | +3 | +30 | +58 |
4 terminations + 0 non-renewals + 1 ceased (other) = 5 exits ÷ 30 at start = 16.7%
These are the three FTC Item 20 statuses in which a franchisee involuntarily or terminally leaves the system. Transfers (4) 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 |
|---|---|---|
| IN | 12 | — |
| NY | 11 | — |
| AZ | 7 | — |
| NJ | 7 | — |
| GA | 6 | — |
| FL | 5 | — |
| IL | 5 | — |
| UT | 5 | — |
| CA | 4 | — |
| MA | 4 | — |
| MI | 3 | — |
| MN | 3 | — |
| OR | 3 | — |
| TX | 3 | 1 |
| WA | 3 | — |
| IA | 2 | — |
| MO | 2 | — |
| VA | 2 | — |
| NC | 1 | — |
| CO | 0 | 2 |
| ID | 0 | — |
| NV | 0 | 1 |
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