FDD ITEM 20 · FISCAL 2023–2025
Ivybrook Academy Item 20: outlets, exits & growth
In its latest FDD Item 20 (fiscal 2025, from the 2026 FDD), Ivybrook Academy reported 49 franchised outlets at year end. 1 of 40 franchised outlets open at the start of the year left the system (exit rate 2.5%, fiscal 2025), while 10 new outlets opened. Systemwide units moved +47.1% over 2023–2025.
| Status (FTC) | 2023 | 2024 | 2025 |
|---|---|---|---|
| Outlets at start | 27 | 34 | 41 |
| Opened | 8 | 8 | 10 |
| Transfers | 0 | 0 | 5 |
| Terminations | 0 | 0 | 0 |
| Non-renewals | 0 | 0 | 0 |
| Reacquired by franchisor | 0 | 0 | 0 |
| Ceased — other reasons | 1 | 1 | 1 |
| Outlets at end | 34 | 41 | 50 |
| Net change | +7 | +7 | +9 |
0 terminations + 0 non-renewals + 1 ceased (other) = 1 exits ÷ 40 at start = 2.5%
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 (5) 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 |
|---|---|---|
| TX | 7 | — |
| FL | 6 | — |
| SC | 6 | — |
| CO | 4 | — |
| GA | 4 | — |
| OH | 3 | — |
| PA | 2 | — |
| TN | 2 | — |
| VA | 2 | — |
| AR | 1 | — |
| KY | 1 | — |
| MI | 1 | — |
| NE | 1 | — |
| NC | 0 | 1 |
The Ivybrook Academy validation checklist
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