FDD ITEM 20 · FISCAL 2018–2020
HomeSmart Item 20: outlets, exits & growth
In its latest FDD Item 20 (fiscal 2020, from the 2021 FDD · 4+ years old), HomeSmart reported 145 franchised outlets at year end. 2 of 126 franchised outlets open at the start of the year left the system (exit rate 1.6%, fiscal 2020), while 21 new outlets opened. Systemwide units moved +20.4% over 2018–2020.
| Status (FTC) | 2018 | 2019 | 2020 |
|---|---|---|---|
| Outlets at start | 130 | 150 | 172 |
| Opened | 40 | 18 | 21 |
| Transfers | 2 | 1 | 0 |
| Terminations | 3 | 3 | 2 |
| Non-renewals | 4 | 3 | 0 |
| Reacquired by franchisor | 0 | 0 | 0 |
| Ceased — other reasons | 9 | 0 | 0 |
| Outlets at end | 152 | 172 | 183 |
| Net change | +22 | +22 | +11 |
2 terminations + 0 non-renewals + 0 ceased (other) = 2 exits ÷ 126 at start = 1.6%
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 (0) 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 | 37 | 4 |
| AZ | 13 | 19 |
| IL | 11 | — |
| NY | 11 | — |
| WA | 8 | — |
| NJ | 7 | — |
| MA | 5 | — |
| OH | 5 | — |
| FL | 4 | 1 |
| PA | 4 | — |
| TX | 4 | — |
| CO | 3 | 10 |
| IN | 3 | — |
| NH | 3 | — |
| NV | 3 | — |
| OR | 3 | — |
| RI | 3 | — |
| GA | 2 | — |
| ID | 2 | — |
| KS | 2 | — |
| LA | 2 | — |
| NM | 2 | — |
| WY | 2 | — |
| HI | 1 | — |
| ME | 1 | — |
| MN | 1 | — |
| MO | 1 | — |
| NC | 1 | — |
| OK | 1 | — |
| WI | 1 | — |
| KY | 0 | — |
| MI | 0 | — |
The HomeSmart validation checklist
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