FDD ITEM 20 · FISCAL 2022–2024
Stroll, Greet Item 20: outlets, exits & growth
In its latest FDD Item 20 (fiscal 2024, from the 2024 FDD · 1+ year old), Stroll, Greet reported 546 franchised outlets at year end. 328 of 548 franchised outlets open at the start of the year left the system (exit rate 59.9%, fiscal 2024), while 360 new outlets opened. Systemwide units moved +9.2% over 2022–2024.
| Status (FTC) | 2022 | 2023 | 2024 |
|---|---|---|---|
| Outlets at start | 660 | 552 | 586 |
| Opened | 408 | 252 | 360 |
| Transfers | 17 | 18 | 4 |
| Terminations | 19 | 2 | 8 |
| Non-renewals | 0 | 0 | 0 |
| Reacquired by franchisor | 18 | 8 | 34 |
| Ceased — other reasons | 482 | 210 | 320 |
| Outlets at end | 552 | 586 | 603 |
| Net change | -108 | +34 | +17 |
8 terminations + 0 non-renewals + 320 ceased (other) = 328 exits ÷ 548 at start = 59.9%
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 (4) are resales, not exits; reacquisitions by the franchisor (34) 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.
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