FDD ITEM 20 · FISCAL 2023–2025
Casago (unit) Item 20: outlets, closures & growth
In its latest FDD Item 20 (fiscal 2025), Casago (unit) reported 125 franchised outlets at year end. 7 of 37 franchised outlets open at the start of the year left the system — an annualized exit rate of 18.9%— while 98 new outlets opened. Systemwide units moved +258.3% over 2023–2025.
| Status (FTC) | 2023 | 2024 | 2025 |
|---|---|---|---|
| Outlets at start | 19 | 36 | 43 |
| Opened | 17 | 9 | 98 |
| Transfers | 1 | 0 | 1 |
| Terminations | 0 | 2 | 7 |
| Non-renewals | 0 | 0 | 0 |
| Reacquired by franchisor | 0 | 0 | 3 |
| Ceased — other reasons | 0 | 0 | 0 |
| Outlets at end | 36 | 43 | 129 |
| Net change | +17 | +7 | +86 |
7 terminations + 0 non-renewals + 0 ceased (other) = 7 exits ÷ 37 at start = 18.9%
These are the three FTC Item 20 statuses in which a franchisee involuntarily or terminally leaves the system. Transfers (1) are resales, not exits; reacquisitions by the franchisor (3) are tracked separately. There is no official “failure rate” — this annualized exit rate is the disclosed, measurable floor.
| State | Franchised | Company-owned |
|---|---|---|
| FL | 23 | 1 |
| CA | 16 | 1 |
| OR | 12 | — |
| TX | 10 | — |
| NC | 8 | 0 |
| AZ | 7 | 0 |
| ID | 7 | — |
| SC | 5 | — |
| AL | 4 | — |
| MI | 4 | — |
| TN | 4 | — |
| GA | 3 | — |
| NV | 3 | — |
| UT | 3 | 0 |
| DE | 2 | — |
| MD | 2 | — |
| NM | 2 | — |
| VA | 2 | 1 |
| WI | 2 | — |
| CO | 1 | — |
| HI | 1 | — |
| MA | 1 | — |
| MN | 1 | — |
| MO | 1 | — |
| MT | 1 | — |
| WV | 0 | 1 |
| WY | 0 | — |
A broker is paid by the franchisor to place you. An independent CPA is paid by you — and the job is pressure-testing Casago (unit)'s numbers, including talking you out of a bad deal.
Talk to an independent CPA before you buy →