FDD ITEM 20 · FISCAL 2018–2024
Fleet Feet Item 20: outlets, closures & growth
In its latest FDD Item 20 (fiscal 2024), Fleet Feet reported 192 franchised outlets at year end. 1 of 183 franchised outlets open at the start of the year left the system — an annualized exit rate of 0.5%— while 10 new outlets opened. Systemwide units moved +8.3% over 2018–2024.
| Status (FTC) | 2018 | 2019 | 2020 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| Outlets at start | 173 | 175 | 182 | 192 | 254 | 269 |
| Opened | 5 | 15 | 3 | 15 | 17 | 10 |
| Transfers | 4 | 0 | 3 | 9 | 8 | 4 |
| Terminations | 4 | 5 | 4 | 0 | 0 | 0 |
| Non-renewals | 0 | 0 | 0 | 0 | 0 | 0 |
| Reacquired by franchisor | 0 | 2 | 0 | 0 | 0 | 0 |
| Ceased — other reasons | 0 | 0 | 1 | 1 | 1 | 1 |
| Outlets at end | 175 | 182 | 182 | 254 | 269 | 275 |
| Net change | +2 | +7 | 0 | +62 | +15 | +6 |
0 terminations + 0 non-renewals + 1 ceased (other) = 1 exits ÷ 183 at start = 0.5%
These are the three FTC Item 20 statuses in which a franchisee involuntarily or terminally leaves the system. Transfers (4) 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 |
|---|---|---|
| CA | 16 | 7 |
| TN | 12 | 1 |
| IL | 10 | — |
| NC | 10 | 5 |
| NY | 9 | — |
| OH | 9 | 0 |
| MO | 7 | — |
| TX | 7 | 5 |
| FL | 6 | 1 |
| GA | 6 | 3 |
| SC | 6 | 1 |
| WA | 6 | 2 |
| VA | 4 | — |
| AL | 3 | — |
| IN | 3 | 1 |
| LA | 3 | — |
| MS | 3 | — |
| OK | 3 | — |
| AZ | 2 | — |
| CT | 2 | — |
| ID | 2 | — |
| ME | 2 | — |
| NE | 2 | — |
| NJ | 2 | — |
| PA | 2 | 1 |
| WI | 2 | 1 |
| AR | 1 | 0 |
| DC | 1 | — |
| IA | 1 | 1 |
| KY | 1 | 1 |
| MD | 1 | — |
| MN | 1 | — |
| NH | 1 | — |
| NM | 1 | — |
| OR | 1 | 0 |
| VT | 1 | — |
| CO | 0 | — |
| KS | 0 | 2 |
| MA | 0 | 1 |
A broker is paid by the franchisor to place you. An independent CPA is paid by you — and the job is pressure-testing Fleet Feet's numbers, including talking you out of a bad deal.
Talk to an independent CPA before you buy →