FDD ITEM 20 · FISCAL 2023–2025
PANERA BREAD BAKERY-CAFÃ Item 20: outlets, closures & growth
In its latest FDD Item 20 (fiscal 2025), PANERA BREAD BAKERY-CAFÃ reported 1,106 franchised outlets at year end. 32 of 1,105 franchised outlets open at the start of the year left the system — an annualized exit rate of 2.9%— while 33 new outlets opened. Systemwide units moved +2.9% over 2023–2025.
| Status (FTC) | 2023 | 2024 | 2025 |
|---|---|---|---|
| Outlets at start | 2,094 | 2,151 | 2,185 |
| Opened | 47 | 24 | 33 |
| Transfers | 35 | 16 | 3 |
| Terminations | 12 | 18 | 32 |
| Non-renewals | 0 | 0 | 0 |
| Reacquired by franchisor | 0 | 11 | 0 |
| Ceased — other reasons | 11 | 3 | 0 |
| Outlets at end | 2,151 | 2,185 | 2,214 |
| Net change | +57 | +34 | +29 |
32 terminations + 0 non-renewals + 0 ceased (other) = 32 exits ÷ 1,105 at start = 2.9%
These are the three FTC Item 20 statuses in which a franchisee involuntarily or terminally leaves the system. Transfers (3) 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 |
|---|---|---|
| OH | 124 | 9 |
| FL | 101 | 94 |
| CA | 96 | 97 |
| PA | 71 | 42 |
| MA | 65 | — |
| NY | 60 | 67 |
| GA | 58 | 8 |
| MD | 54 | — |
| CO | 37 | — |
| IL | 37 | 75 |
| TX | 32 | 88 |
| WA | 29 | 5 |
| KS | 25 | — |
| NC | 25 | 63 |
| MI | 23 | 58 |
| IA | 19 | 2 |
| MO | 19 | 50 |
| NV | 19 | — |
| SC | 19 | 16 |
| NJ | 18 | 63 |
| OK | 18 | 1 |
| OR | 17 | — |
| TN | 17 | 26 |
| VA | 16 | 78 |
| CT | 15 | 18 |
| NH | 13 | — |
| WV | 11 | — |
| LA | 10 | 1 |
| KY | 8 | 24 |
| AZ | 7 | 30 |
| RI | 7 | 1 |
| UT | 7 | — |
| DE | 6 | — |
| ME | 6 | — |
| MS | 5 | — |
| MT | 4 | — |
| AL | 3 | 26 |
| IN | 2 | 42 |
| AR | 1 | 8 |
| DC | 1 | 5 |
| WY | 1 | — |
| ID | 0 | 8 |
| MN | 0 | 32 |
| ND | 0 | 4 |
| NE | 0 | 13 |
| NM | 0 | 7 |
| SD | 0 | 3 |
| VT | 0 | 3 |
| WI | 0 | 41 |
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