FDD ITEM 20 · FISCAL 2021–2023
Lapels Dry Cleaning Item 20: outlets, closures & growth
In its latest FDD Item 20 (fiscal 2023), Lapels Dry Cleaning reported 83 franchised outlets at year end. 2 of 83 franchised outlets open at the start of the year left the system — an annualized exit rate of 2.4%— while 2 new outlets opened. Systemwide units moved +2.5% over 2021–2023.
| Status (FTC) | 2021 | 2022 | 2023 |
|---|---|---|---|
| Outlets at start | 85 | 81 | 83 |
| Opened | 4 | 6 | 2 |
| Transfers | 2 | 3 | 8 |
| Terminations | 5 | 0 | 0 |
| Non-renewals | 0 | 1 | 0 |
| Reacquired by franchisor | 0 | 0 | 0 |
| Ceased — other reasons | 3 | 3 | 2 |
| Outlets at end | 81 | 83 | 83 |
| Net change | -4 | +2 | 0 |
0 terminations + 0 non-renewals + 2 ceased (other) = 2 exits ÷ 83 at start = 2.4%
These are the three FTC Item 20 statuses in which a franchisee involuntarily or terminally leaves the system. Transfers (8) 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.
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