FDD ITEM 20 · FISCAL 2021–2025
FENG CHA Item 20: outlets, closures & growth
In its latest FDD Item 20 (fiscal 2025), FENG CHA reported 87 franchised outlets at year end. 4 of 78 franchised outlets open at the start of the year left the system — an annualized exit rate of 5.1%— while 13 new outlets opened. Systemwide units moved +252.0% over 2021–2025.
| Status (FTC) | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Outlets at start | 15 | 25 | 47 | 72 | 79 |
| Opened | 9 | 20 | 25 | 15 | 13 |
| Transfers | 0 | 1 | 3 | 2 | 5 |
| Terminations | 0 | 0 | 0 | 9 | 4 |
| Non-renewals | 0 | 0 | 0 | 0 | 0 |
| Reacquired by franchisor | 0 | 0 | 0 | 0 | 0 |
| Ceased — other reasons | 0 | 0 | 0 | 0 | 0 |
| Outlets at end | 25 | 46 | 72 | 79 | 88 |
| Net change | +10 | +21 | +25 | +7 | +9 |
4 terminations + 0 non-renewals + 0 ceased (other) = 4 exits ÷ 78 at start = 5.1%
These are the three FTC Item 20 statuses in which a franchisee involuntarily or terminally leaves the system. Transfers (5) 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 |
|---|---|---|
| TX | 55 | 1 |
| CA | 14 | — |
| OK | 4 | — |
| NC | 3 | — |
| KS | 2 | — |
| MO | 2 | — |
| CO | 1 | — |
| GA | 1 | — |
| IN | 1 | — |
| LA | 1 | — |
| MI | 1 | — |
| SC | 1 | — |
| WA | 1 | — |
| MN | 0 | — |
| NV | 0 | — |
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