FDD ITEM 20 · FISCAL 2022–2024
Intelligent Office Item 20: outlets, exits & growth
In its latest FDD Item 20 (fiscal 2024, from the 2025 FDD), Intelligent Office reported 41 franchised outlets at year end. 2 of 43 franchised outlets open at the start of the year left the system (exit rate 4.7%, fiscal 2024), while 0 new outlets opened. Systemwide units moved -8.9% over 2022–2024.
| Status (FTC) | 2022 | 2023 | 2024 |
|---|---|---|---|
| Outlets at start | 44 | 45 | 43 |
| Opened | 4 | 0 | 0 |
| Transfers | 6 | 2 | 0 |
| Terminations | 0 | 2 | 2 |
| Non-renewals | 0 | 0 | 0 |
| Reacquired by franchisor | 0 | 0 | 0 |
| Ceased — other reasons | 0 | 0 | 0 |
| Outlets at end | 45 | 43 | 41 |
| Net change | +1 | -2 | -2 |
2 terminations + 0 non-renewals + 0 ceased (other) = 2 exits ÷ 43 at start = 4.7%
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.
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