FDD ITEM 20 · FISCAL 2023–2025
ZENSHI Item 20: outlets, closures & growth
In its latest FDD Item 20 (fiscal 2025), ZENSHI reported 3,572 franchised outlets at year end. 292 of 2,217 franchised outlets open at the start of the year left the system — an annualized exit rate of 13.2%— while 1,806 new outlets opened.
| Status (FTC) | 2023 | 2024 | 2025 |
|---|---|---|---|
| Outlets at start | 0 | 0 | 2,274 |
| Opened | 0 | 2,226 | 1,806 |
| Transfers | 0 | 21 | 274 |
| Terminations | 0 | 6 | 208 |
| Non-renewals | 0 | 1 | 30 |
| Reacquired by franchisor | 0 | 0 | 159 |
| Ceased — other reasons | 0 | 2 | 54 |
| Outlets at end | 0 | 2,274 | 3,762 |
| Net change | 0 | +2274 | +1488 |
208 terminations + 30 non-renewals + 54 ceased (other) = 292 exits ÷ 2,217 at start = 13.2%
These are the three FTC Item 20 statuses in which a franchisee involuntarily or terminally leaves the system. Transfers (274) are resales, not exits; reacquisitions by the franchisor (159) are tracked separately. There is no official “failure rate” — this annualized exit rate is the disclosed, measurable floor.
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