FDD ITEM 20 · FISCAL 2023–2025
Iron Valley Real Estate Item 20: outlets, closures & growth
In its latest FDD Item 20 (fiscal 2025), Iron Valley Real Estate reported 46 franchised outlets at year end. 2 of 44 franchised outlets open at the start of the year left the system — an annualized exit rate of 4.5%— while 4 new outlets opened. Systemwide units moved +28.6% over 2023–2025.
| Status (FTC) | 2023 | 2024 | 2025 |
|---|---|---|---|
| Outlets at start | 37 | 42 | 52 |
| Opened | 7 | 9 | 4 |
| Transfers | 1 | 4 | 2 |
| Terminations | 1 | 0 | 0 |
| Non-renewals | 0 | 0 | 1 |
| Reacquired by franchisor | 0 | 0 | 0 |
| Ceased — other reasons | 1 | 0 | 1 |
| Outlets at end | 42 | 52 | 54 |
| Net change | +5 | +10 | +2 |
0 terminations + 1 non-renewals + 1 ceased (other) = 2 exits ÷ 44 at start = 4.5%
These are the three FTC Item 20 statuses in which a franchisee involuntarily or terminally leaves the system. Transfers (2) 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 |
|---|---|---|
| PA | 25 | 7 |
| FL | 6 | — |
| VA | 6 | — |
| DE | 4 | — |
| MD | 3 | 1 |
| GA | 1 | — |
| NC | 1 | — |
A broker is paid by the franchisor to place you. An independent CPA is paid by you — and the job is pressure-testing Iron Valley Real Estate's numbers, including talking you out of a bad deal.
Talk to an independent CPA before you buy →