FDD ITEM 20 · FISCAL 2023–2025
VALENTA Item 20: outlets, closures & growth
In its latest FDD Item 20 (fiscal 2025), VALENTA reported 12 franchised outlets at year end. 4 of 15 franchised outlets open at the start of the year left the system — an annualized exit rate of 26.7%— while 1 new outlets opened. Systemwide units moved -58.6% over 2023–2025.
| Status (FTC) | 2023 | 2024 | 2025 |
|---|---|---|---|
| Outlets at start | 20 | 29 | 15 |
| Opened | 11 | 4 | 1 |
| Transfers | 0 | 0 | 0 |
| Terminations | 2 | 18 | 4 |
| Non-renewals | 0 | 0 | 0 |
| Reacquired by franchisor | 0 | 0 | 0 |
| Ceased — other reasons | 0 | 0 | 0 |
| Outlets at end | 29 | 15 | 12 |
| Net change | +9 | -14 | -3 |
4 terminations + 0 non-renewals + 0 ceased (other) = 4 exits ÷ 15 at start = 26.7%
These are the three FTC Item 20 statuses in which a franchisee involuntarily or terminally leaves the system. Transfers (0) are resales, not exits; reacquisitions by the franchisor (0) are tracked separately. There is no official “failure rate” — this annualized exit rate is the disclosed, measurable floor.
| State | Franchised | Company-owned |
|---|---|---|
| AZ | 2 | 0 |
| TX | 2 | 0 |
| CA | 1 | 0 |
| CT | 1 | 0 |
| FL | 1 | 0 |
| PA | 1 | 0 |
| SC | 1 | 0 |
| TN | 1 | 0 |
| VA | 1 | 0 |
| WA | 1 | 0 |
| AR | 0 | 0 |
| GA | 0 | 0 |
| MD | 0 | 0 |
| MI | 0 | 0 |
| NC | 0 | 0 |
| NJ | 0 | 0 |
| NY | 0 | 0 |
| OR | 0 | 0 |
| UT | 0 | 0 |
| WI | 0 | 0 |
The VALENTA validation checklist
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