FDD ITEM 20 · FISCAL 2018–2024
Fleet Feet Item 20: outlets, exits & growth
In its latest FDD Item 20 (fiscal 2024, from the 2025 FDD), Fleet Feet reported 192 franchised outlets at year end. 1 of 183 franchised outlets open at the start of the year left the system (exit rate 0.5%, fiscal 2024), while 10 new outlets opened. Systemwide units moved +57.1% over 2018–2024.
| Status (FTC) | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Outlets at start | 173 | 175 | 182 | 183 | 192 | 254 | 269 |
| Opened | 5 | 15 | 3 | 9 | 15 | 17 | 10 |
| Transfers | 4 | 0 | 3 | 0 | 9 | 8 | 4 |
| Terminations | 4 | 5 | 4 | 0 | 0 | 0 | 0 |
| Non-renewals | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Reacquired by franchisor | 0 | 2 | 0 | 5 | 0 | 0 | 0 |
| Ceased — other reasons | 0 | 0 | 1 | 0 | 1 | 1 | 1 |
| Outlets at end | 175 | 182 | 182 | 192 | 254 | 269 | 275 |
| Net change | +2 | +7 | 0 | +9 | +62 | +15 | +6 |
0 terminations + 0 non-renewals + 1 ceased (other) = 1 exits ÷ 183 at start = 0.5%
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 (4) are resales, not exits; reacquisitions by the franchisor (0) 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.
| State | Franchised | Company-owned |
|---|---|---|
| CA | 16 | 7 |
| TN | 12 | 1 |
| IL | 10 | — |
| NC | 10 | 5 |
| NY | 9 | — |
| OH | 9 | 0 |
| MO | 7 | — |
| TX | 7 | 5 |
| FL | 6 | 1 |
| GA | 6 | 3 |
| SC | 6 | 1 |
| WA | 6 | 2 |
| VA | 4 | — |
| AL | 3 | — |
| IN | 3 | 1 |
| LA | 3 | — |
| MS | 3 | — |
| OK | 3 | — |
| AZ | 2 | — |
| CT | 2 | — |
| ID | 2 | — |
| ME | 2 | — |
| NE | 2 | — |
| NJ | 2 | — |
| PA | 2 | 1 |
| WI | 2 | 1 |
| AR | 1 | 0 |
| DC | 1 | — |
| IA | 1 | 1 |
| KY | 1 | 1 |
| MD | 1 | — |
| MN | 1 | — |
| NH | 1 | — |
| NM | 1 | — |
| OR | 1 | 0 |
| VT | 1 | — |
| CO | 0 | — |
| KS | 0 | 2 |
| MA | 0 | 1 |
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