FDD ITEM 20 · FISCAL 2023–2025
Cabinet IQ Item 20: outlets, closures & growth
In its latest FDD Item 20 (fiscal 2025), Cabinet IQ reported 53 franchised outlets at year end. 4 of 21 franchised outlets open at the start of the year left the system — an annualized exit rate of 19.0%— while 36 new outlets opened. Systemwide units moved +1700.0% over 2023–2025.
| Status (FTC) | 2023 | 2024 | 2025 |
|---|---|---|---|
| Outlets at start | 2 | 3 | 23 |
| Opened | 1 | 20 | 36 |
| Transfers | 0 | 0 | 0 |
| Terminations | 0 | 0 | 1 |
| Non-renewals | 0 | 0 | 0 |
| Reacquired by franchisor | 0 | 0 | 0 |
| Ceased — other reasons | 0 | 0 | 3 |
| Outlets at end | 3 | 23 | 54 |
| Net change | +1 | +20 | +31 |
1 terminations + 0 non-renewals + 3 ceased (other) = 4 exits ÷ 21 at start = 19.0%
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 |
|---|---|---|
| TX | 12 | 1 |
| NC | 5 | — |
| FL | 4 | — |
| GA | 4 | — |
| CO | 3 | — |
| TN | 3 | — |
| AZ | 2 | — |
| CA | 2 | — |
| NJ | 2 | — |
| SC | 2 | — |
| AL | 1 | — |
| KS | 1 | — |
| KY | 1 | — |
| MI | 1 | — |
| MO | 1 | — |
| NE | 1 | — |
| NV | 1 | — |
| OH | 1 | — |
| OK | 1 | — |
| OR | 1 | — |
| PA | 1 | — |
| UT | 1 | — |
| VA | 1 | — |
| WI | 1 | — |
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