FDD ITEM 20 · FISCAL 2023–2025
Sandbox VR Item 20: outlets, exits & growth
In its latest FDD Item 20 (fiscal 2025, from the 2026 FDD), Sandbox VR reported 10 franchised outlets at year end. 0 of 3 franchised outlets open at the start of the year left the system (exit rate 0.0%, fiscal 2025), while 7 new outlets opened. Systemwide units moved +30.3% over 2023–2025.
| Status (FTC) | 2023 | 2024 | 2025 |
|---|---|---|---|
| Outlets at start | 24 | 33 | 36 |
| Opened | 1 | 1 | 7 |
| Transfers | 0 | 0 | 0 |
| Terminations | 0 | 0 | 0 |
| Non-renewals | 0 | 0 | 0 |
| Reacquired by franchisor | 0 | 0 | 0 |
| Ceased — other reasons | 0 | 0 | 0 |
| Outlets at end | 33 | 36 | 43 |
| Net change | +9 | +3 | +7 |
0 terminations + 0 non-renewals + 0 ceased (other) = 0 exits ÷ 3 at start = 0.0%
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 (0) 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 | 3 | — |
| CA | 2 | 8 |
| NJ | 2 | — |
| MI | 1 | — |
| PA | 1 | 1 |
| VA | 1 | 1 |
| CO | 0 | 1 |
| GA | 0 | 2 |
| IL | 0 | 2 |
| IN | 0 | 1 |
| KS | 0 | 1 |
| KY | 0 | 1 |
| MN | 0 | 2 |
| MO | 0 | 1 |
| NV | 0 | 2 |
| OH | 0 | 3 |
| TX | 0 | 4 |
| UT | 0 | 1 |
| WA | 0 | 2 |
The Sandbox VR validation checklist
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