FDD ITEM 20 · FISCAL 2023–2025
Shipley Do-Nuts Item 20: outlets, exits & growth
In its latest FDD Item 20 (fiscal 2025, from the 2026 FDD), Shipley Do-Nuts reported 381 franchised outlets at year end. 7 of 354 franchised outlets open at the start of the year left the system (exit rate 2.0%, fiscal 2025), while 34 new outlets opened. Systemwide units moved +12.6% over 2023–2025.
| Status (FTC) | 2023 | 2024 | 2025 |
|---|---|---|---|
| Outlets at start | 337 | 349 | 365 |
| Opened | 15 | 23 | 34 |
| Transfers | 9 | 17 | 24 |
| Terminations | 0 | 1 | 0 |
| Non-renewals | 0 | 0 | 0 |
| Reacquired by franchisor | 0 | 0 | 0 |
| Ceased — other reasons | 4 | 5 | 7 |
| Outlets at end | 349 | 365 | 393 |
| Net change | +12 | +16 | +28 |
0 terminations + 0 non-renewals + 7 ceased (other) = 7 exits ÷ 354 at start = 2.0%
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 (24) 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 |
|---|---|---|
| TX | 317 | 12 |
| AR | 24 | — |
| MS | 8 | — |
| LA | 7 | — |
| TN | 6 | — |
| CO | 3 | — |
| FL | 3 | — |
| MD | 3 | — |
| AL | 2 | — |
| GA | 2 | — |
| OK | 2 | 0 |
| SC | 2 | — |
| NC | 1 | — |
| VA | 1 | — |
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