FDD ITEM 20 · FISCAL 2023–2025
Icode Item 20: outlets, closures & growth
In its latest FDD Item 20 (fiscal 2025), Icode reported 61 franchised outlets at year end. 5 of 47 franchised outlets open at the start of the year left the system — an annualized exit rate of 10.6%— while 19 new outlets opened. Systemwide units moved +32.6% over 2023–2025.
| Status (FTC) | 2023 | 2024 | 2025 |
|---|---|---|---|
| Outlets at start | 31 | 46 | 51 |
| Opened | 15 | 7 | 19 |
| Transfers | 2 | 4 | 4 |
| Terminations | 0 | 2 | 5 |
| Non-renewals | 0 | 0 | 0 |
| Reacquired by franchisor | 0 | 2 | 0 |
| Ceased — other reasons | 0 | 0 | 0 |
| Outlets at end | 46 | 51 | 61 |
| Net change | +15 | +5 | +10 |
5 terminations + 0 non-renewals + 0 ceased (other) = 5 exits ÷ 47 at start = 10.6%
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 |
|---|---|---|
| TX | 17 | 0 |
| WA | 5 | — |
| MD | 4 | — |
| AZ | 3 | — |
| MI | 3 | 0 |
| NC | 3 | 0 |
| NJ | 3 | — |
| TN | 3 | — |
| VA | 3 | — |
| CA | 2 | — |
| IL | 2 | — |
| MA | 2 | — |
| OK | 2 | — |
| AR | 1 | — |
| CO | 1 | — |
| FL | 1 | — |
| GA | 1 | — |
| ID | 1 | — |
| IN | 1 | — |
| NV | 1 | — |
| NY | 1 | — |
| OH | 1 | — |
| CT | 0 | — |
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