FDD ITEM 20 · FISCAL 2022–2024
PSP Item 20: outlets, closures & growth
In its latest FDD Item 20 (fiscal 2024), PSP reported 502 franchised outlets at year end. 8 of 485 franchised outlets open at the start of the year left the system — an annualized exit rate of 1.6%— while 28 new outlets opened. Systemwide units moved +11.4% over 2022–2024.
| Status (FTC) | 2022 | 2023 | 2024 |
|---|---|---|---|
| Outlets at start | 601 | 660 | 719 |
| Opened | 60 | 60 | 28 |
| Transfers | 12 | 33 | 19 |
| Terminations | 0 | 0 | 0 |
| Non-renewals | 0 | 0 | 0 |
| Reacquired by franchisor | 1 | 0 | 3 |
| Ceased — other reasons | 4 | 4 | 8 |
| Outlets at end | 660 | 719 | 735 |
| Net change | +59 | +59 | +16 |
0 terminations + 0 non-renewals + 8 ceased (other) = 8 exits ÷ 485 at start = 1.6%
These are the three FTC Item 20 statuses in which a franchisee involuntarily or terminally leaves the system. Transfers (19) are resales, not exits; reacquisitions by the franchisor (3) are tracked separately. There is no official “failure rate” — this annualized exit rate is the disclosed, measurable floor.
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