FDD ITEM 20 · FISCAL 2023–2025
Leeâs Famous Recipe Item 20: outlets, closures & growth
In its latest FDD Item 20 (fiscal 2025), Leeâs Famous Recipe reported 92 franchised outlets at year end. 2 of 93 franchised outlets open at the start of the year left the system — an annualized exit rate of 2.2%— while 3 new outlets opened. Systemwide units moved +3.3% over 2023–2025.
| Status (FTC) | 2023 | 2024 | 2025 |
|---|---|---|---|
| Outlets at start | 126 | 123 | 126 |
| Opened | 1 | 4 | 3 |
| Transfers | 1 | 1 | 1 |
| Terminations | 2 | 0 | 0 |
| Non-renewals | 0 | 0 | 1 |
| Reacquired by franchisor | 5 | 17 | 2 |
| Ceased — other reasons | 2 | 1 | 1 |
| Outlets at end | 123 | 126 | 127 |
| Net change | -3 | +3 | +1 |
0 terminations + 1 non-renewals + 1 ceased (other) = 2 exits ÷ 93 at start = 2.2%
These are the three FTC Item 20 statuses in which a franchisee involuntarily or terminally leaves the system. Transfers (1) are resales, not exits; reacquisitions by the franchisor (2) are tracked separately. There is no official “failure rate” — this annualized exit rate is the disclosed, measurable floor.
| State | Franchised | Company-owned |
|---|---|---|
| OH | 32 | 9 |
| KY | 29 | 4 |
| MI | 12 | — |
| IN | 8 | 4 |
| MO | 3 | 13 |
| TN | 2 | — |
| AL | 1 | — |
| GA | 1 | — |
| IL | 1 | 2 |
| SC | 1 | — |
| VA | 1 | — |
| WI | 1 | — |
| FL | 0 | 3 |
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