FDD ITEM 20 · FISCAL 2023–2025
PetSmart Veterinary Services Item 20: outlets, exits & growth
In its latest FDD Item 20 (fiscal 2025, from the 2026 FDD), PetSmart Veterinary Services reported 43 franchised outlets at year end. 6 of 37 franchised outlets open at the start of the year left the system (exit rate 16.2%, fiscal 2025), while 12 new outlets opened. Systemwide units moved +13.2% over 2023–2025.
| Status (FTC) | 2023 | 2024 | 2025 |
|---|---|---|---|
| Outlets at start | 11 | 38 | 37 |
| Opened | 33 | 15 | 12 |
| Transfers | 1 | 0 | 1 |
| Terminations | 1 | 16 | 5 |
| Non-renewals | 0 | 0 | 0 |
| Reacquired by franchisor | 0 | 0 | 0 |
| Ceased — other reasons | 5 | 0 | 1 |
| Outlets at end | 38 | 37 | 43 |
| Net change | +27 | -1 | +6 |
5 terminations + 0 non-renewals + 1 ceased (other) = 6 exits ÷ 37 at start = 16.2%
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 (1) 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 |
|---|---|---|
| CA | 9 | 0 |
| FL | 8 | 0 |
| GA | 4 | 0 |
| NC | 3 | 0 |
| NV | 3 | 0 |
| TX | 3 | 0 |
| CT | 2 | 0 |
| AR | 1 | 0 |
| AZ | 1 | 0 |
| IL | 1 | 0 |
| LA | 1 | 0 |
| MD | 1 | 0 |
| MI | 1 | 0 |
| NE | 1 | 0 |
| NY | 1 | 0 |
| PA | 1 | 0 |
| VA | 1 | 0 |
| WI | 1 | 0 |
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