FDD ITEM 20 · FISCAL 2019–2025
Paul Davis Restoration Item 20: outlets, exits & growth
In its latest FDD Item 20 (fiscal 2025, from the 2026 FDD), Paul Davis Restoration reported 277 franchised outlets at year end. 8 of 266 franchised outlets open at the start of the year left the system (exit rate 3.0%, fiscal 2025), while 19 new outlets opened. Systemwide units moved +45.8% over 2019–2025.
| Status (FTC) | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Outlets at start | 193 | 190 | 195 | 211 | 224 | 245 | 266 |
| Opened | 8 | 9 | 22 | 20 | 25 | 28 | 19 |
| Transfers | 5 | 2 | 9 | 20 | 14 | 17 | 16 |
| Terminations | 11 | 4 | 6 | 7 | 3 | 6 | 8 |
| Non-renewals | 0 | 0 | 0 | 0 | 1 | 1 | 0 |
| Reacquired by franchisor | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ceased — other reasons | 0 | 1 | 0 | 0 | 0 | 0 | 0 |
| Outlets at end | 190 | 195 | 211 | 224 | 245 | 266 | 277 |
| Net change | -3 | +5 | +16 | +13 | +21 | +21 | +11 |
8 terminations + 0 non-renewals + 0 ceased (other) = 8 exits ÷ 266 at start = 3.0%
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 (16) 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 |
|---|---|---|
| FL | 27 | 0 |
| TX | 23 | 0 |
| CA | 21 | 0 |
| NC | 12 | 0 |
| NY | 12 | 0 |
| MI | 11 | 0 |
| PA | 11 | 0 |
| CO | 10 | 0 |
| NJ | 10 | 0 |
| MA | 9 | 0 |
| GA | 8 | 0 |
| IL | 8 | 0 |
| VA | 8 | 0 |
| MD | 7 | 0 |
| OH | 7 | 0 |
| KY | 6 | 0 |
| MO | 6 | 0 |
| SC | 6 | 0 |
| TN | 6 | 0 |
| WA | 6 | 0 |
| AZ | 5 | 0 |
| IN | 5 | 0 |
| MN | 5 | 0 |
| MS | 4 | 0 |
| NE | 4 | 0 |
| NV | 4 | 0 |
| UT | 4 | 0 |
| AL | 3 | 0 |
| CT | 3 | 0 |
| MT | 3 | 0 |
| ID | 2 | 0 |
| KS | 2 | 0 |
| LA | 2 | 0 |
| NH | 2 | 0 |
| NM | 2 | 0 |
| OK | 2 | 0 |
| OR | 2 | 0 |
| WI | 2 | 0 |
| AR | 1 | 0 |
| DE | 1 | 0 |
| IA | 1 | 0 |
| RI | 1 | 0 |
| VT | 1 | 0 |
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