FDD ITEM 20 · FISCAL 2021–2024
WAXING THE CITY Item 20: outlets, exits & growth
In its latest FDD Item 20 (fiscal 2024, from the 2024 FDD · 1+ year old), WAXING THE CITY reported 150 franchised outlets at year end. 15 of 150 franchised outlets open at the start of the year left the system (exit rate 10.0%, fiscal 2024), while 15 new outlets opened. Systemwide units moved +20.0% over 2021–2024.
| Status (FTC) | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Outlets at start | 115 | 125 | 139 | 150 |
| Opened | 11 | 15 | 22 | 15 |
| Transfers | 5 | 7 | 8 | 10 |
| Terminations | 1 | 0 | 4 | 15 |
| Non-renewals | 0 | 0 | 1 | 0 |
| Reacquired by franchisor | 0 | 0 | 0 | 0 |
| Ceased — other reasons | 0 | 0 | 0 | 0 |
| Outlets at end | 125 | 139 | 150 | 150 |
| Net change | +10 | +14 | +11 | 0 |
15 terminations + 0 non-renewals + 0 ceased (other) = 15 exits ÷ 150 at start = 10.0%
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 (10) 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.
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