Franopolis

    Drybar

    Franchise research report · reviewed 2026 disclosure data

    Researching Drybar franchise opportunities? Every figure below is cited to the FDD.

    Reviewed sources
    Franchising since
    2011
    Source: franchise.org
    Headquarters
    Denver, CO United States
    Source: franchise.org

    Drybar franchise specializes in professional blowouts and hair styling services, building a loyal following with its signature salon experience focused exclusiv

    Headline figures

    Quick facts

    What is the Drybar initial franchise fee?
    The disclosed initial franchise fee for a standard single unit is $50,000 (2026 FDD, Item 5, PDF p. 13). Other fee options (for example multi-unit or conversion) are listed separately in the report. Details
    What ongoing fees does Drybar charge?
    The disclosed ongoing royalty is $7 (2026 FDD, Item 6, PDF p. 15). The brand or advertising fund contribution is $4 (2026 FDD, Item 6, PDF p. 18). Other recurring fees are listed in Item 6. Details
    Does Drybar disclose financial performance (Item 19)?
    Yes. The Drybar FDD includes an Item 19 financial performance representation (2026 FDD, Item 19, PDF p. 71). Figures apply only to the locations and period each one covers. Details
    How many Drybar locations are there?
    The FDD reports 198 outlets at the end of 2025 (2026 FDD, Item 20, PDF p. 73). Existing locations do not indicate territory availability. Details

    From reviewed FDD figures only. Not a recommendation or projection.

    What the disclosures show

    1. 1Item 19 covers 8 separate groups: other measures for 10 Franchised locations; other measures for 47 Franchised locations; other measures for 167 Franchised locations; other measures for 110 Franchised locations; other measures for 57 Franchised locations; other measures for 47 Franchised locations; other measures for 10 Franchised locations; other measures for 141 Franchised locations. They are not combined.
    2. 2Outlets grew by 22 in 2025, to 198 (United States, as labeled in the FDD, Item 20).

    From reviewed FDD figures only. Not a recommendation or projection.

    Costs · Items 5–7

    What does it cost to open?

    Estimated opening costs and the fees payable to the franchisor.

    Startup Investment — Item 7

    Standard single-unit franchise fee

    2026 FDD · Item 5 · PDF p. 13
    Discounted and multi-unit options are separate; see all fees.

    Ongoing Fees — Item 6

    Selected recurring charges; payment bases and conditions remain attached to each fee.

    Monthly royalty gross receiptsMain ongoing fee

    76 reported fees, each with its payment basis, are listed below; they haven't been sorted into recurring, initial and occasional groups yet.

    Financial Performance — Item 19

    What results are disclosed—and for which locations?

    8 separate populations, shown apart. Revenue is not owner income.

    Locations counted: not stated in the reviewed record

    Other measures · 10 locations

    Who is counted
    Top 10
    Period
    Shop count
    Excluded
    Exclude27opened2025,1presale2024butserved2025,3resort/department-store no street access,5closed2025(oneunder12months). Same-shop growth excludes shops not operating entire2024; stated group samples not recomputed.
    Method
    Required monthly franchisee reports/predecessor data, unaudited/unverified. Gross revenue all service/merchandise/membership/gift-card/business-interruption revenue less remitted taxes, refunds notchargebacks, employee tips. Visits include members/nonmembers; conversion=new clients joining membership; ending members paidDecember2025. Revenue before operating expenses.

    Locations counted: not stated in the reviewed record

    Other measures · 47 locations

    Who is counted
    Bottom third
    Period
    Shop count
    Excluded
    Exclude27opened2025,1presale2024butserved2025,3resort/department-store no street access,5closed2025(oneunder12months). Same-shop growth excludes shops not operating entire2024; stated group samples not recomputed.
    Method
    Required monthly franchisee reports/predecessor data, unaudited/unverified. Gross revenue all service/merchandise/membership/gift-card/business-interruption revenue less remitted taxes, refunds notchargebacks, employee tips. Visits include members/nonmembers; conversion=new clients joining membership; ending members paidDecember2025. Revenue before operating expenses.

    Locations counted: not stated in the reviewed record

    Other measures · 167 locations

    Who is counted
    All shops
    Period
    Shop count
    Excluded
    Exclude27opened2025,1presale2024butserved2025,3resort/department-store no street access,5closed2025(oneunder12months). Same-shop growth excludes shops not operating entire2024; stated group samples not recomputed.
    Method
    Required monthly franchisee reports/predecessor data, unaudited/unverified. Gross revenue all service/merchandise/membership/gift-card/business-interruption revenue less remitted taxes, refunds notchargebacks, employee tips. Visits include members/nonmembers; conversion=new clients joining membership; ending members paidDecember2025. Revenue before operating expenses.

    Locations counted: not stated in the reviewed record

    Other measures · 110 locations

    Who is counted
    Open more than three years before2025
    Period
    Shop count
    Excluded
    Exclude27opened2025,1presale2024butserved2025,3resort/department-store no street access,5closed2025(oneunder12months). Same-shop growth excludes shops not operating entire2024; stated group samples not recomputed.
    Method
    Required monthly franchisee reports/predecessor data, unaudited/unverified. Gross revenue all service/merchandise/membership/gift-card/business-interruption revenue less remitted taxes, refunds notchargebacks, employee tips. Visits include members/nonmembers; conversion=new clients joining membership; ending members paidDecember2025. Revenue before operating expenses.

    Locations counted: not stated in the reviewed record

    Other measures · 57 locations

    Who is counted
    Open less than three years before2025
    Period
    Shop count
    Excluded
    Exclude27opened2025,1presale2024butserved2025,3resort/department-store no street access,5closed2025(oneunder12months). Same-shop growth excludes shops not operating entire2024; stated group samples not recomputed.
    Method
    Required monthly franchisee reports/predecessor data, unaudited/unverified. Gross revenue all service/merchandise/membership/gift-card/business-interruption revenue less remitted taxes, refunds notchargebacks, employee tips. Visits include members/nonmembers; conversion=new clients joining membership; ending members paidDecember2025. Revenue before operating expenses.

    Locations counted: not stated in the reviewed record

    Other measures · 47 locations

    Who is counted
    Top third
    Period
    Gross Revenue
    Excluded
    Exclude27opened2025,1presale2024butserved2025,3resort/department-store no street access,5closed2025(oneunder12months). Same-shop growth excludes shops not operating entire2024; stated group samples not recomputed.
    Method
    Required monthly franchisee reports/predecessor data, unaudited/unverified. Gross revenue all service/merchandise/membership/gift-card/business-interruption revenue less remitted taxes, refunds notchargebacks, employee tips. Visits include members/nonmembers; conversion=new clients joining membership; ending members paidDecember2025. Revenue before operating expenses.

    Locations counted: not stated in the reviewed record

    Other measures · 10 locations

    Who is counted
    Bottom 10
    Period
    Gross Revenue
    Excluded
    Exclude27opened2025,1presale2024butserved2025,3resort/department-store no street access,5closed2025(oneunder12months). Same-shop growth excludes shops not operating entire2024; stated group samples not recomputed.
    Method
    Required monthly franchisee reports/predecessor data, unaudited/unverified. Gross revenue all service/merchandise/membership/gift-card/business-interruption revenue less remitted taxes, refunds notchargebacks, employee tips. Visits include members/nonmembers; conversion=new clients joining membership; ending members paidDecember2025. Revenue before operating expenses.

    Locations counted: not stated in the reviewed record

    Other measures · 141 locations

    Who is counted
    Open more than one year before2025
    Period
    Gross Revenue
    Excluded
    Exclude27opened2025,1presale2024butserved2025,3resort/department-store no street access,5closed2025(oneunder12months). Same-shop growth excludes shops not operating entire2024; stated group samples not recomputed.
    Method
    Required monthly franchisee reports/predecessor data, unaudited/unverified. Gross revenue all service/merchandise/membership/gift-card/business-interruption revenue less remitted taxes, refunds notchargebacks, employee tips. Visits include members/nonmembers; conversion=new clients joining membership; ending members paidDecember2025. Revenue before operating expenses.

    These groups are never combined.

    Outlet Changes — Item 20

    How has the outlet count changed?

    United States, as labeled in the FDD · counts as of 2025 of each year.

    2026 FDD · Item 20 · PDF p. 73

    Net +39 outlets, 2023–2025

    0159202317620241982025+17+22

    Year-end counts reported in Item 20. The scale starts at zero; the labels between the dots show each year's change. Openings and closures for 2025 haven't been pulled from the Item 20 tables yet, so no turnover or churn is shown.

    Questions to investigate

    Prompts based on what this brand's reviewed disclosures do and don't show — not conclusions. Join free as a member to save questions to your research.

    For the franchisor

    • Which initial fee option would apply to my situation, and what conditions or discounts affect it?

    • Which locations are included in the Item 19 figures, and which were excluded?

    • Reported units went from 176 to 198 in 2025. How many new units opened, closed or changed hands?

    • Is a territory available in my area, and how is it defined in my agreement?

    For current and former owners

    • How did your actual startup costs and timeline compare with the Item 7 estimate?

    • How many hours a week do you work in the business, and in what role?

    • How do your results compare with the Item 19 figures, and what explains the difference?

    • What support from the franchisor has been most and least useful?

    For your advisors

    • Ask a franchise attorney to review the territory, renewal, transfer and termination terms.

    • Ask an accountant to build a cash-flow plan using your own assumptions, not the franchisor's.

    Sources & vintage history

    Every displayed fact is retained with its disclosure vintage, item, page, and reviewed status. Prior vintages remain on file rather than being overwritten.

    Citations (2026 FDD)

    1. [1]Standard initial franchise fee — Item 5 · PDF p. 13
    2. [2]Item 19 — Locations counted not stated in the reviewed record — Top 10 · PDF p. 71
    3. [3]Item 19 — Locations counted not stated in the reviewed record — Bottom third · PDF p. 71
    4. [4]Item 19 — Locations counted not stated in the reviewed record — All shops · PDF p. 71
    5. [5]Item 19 — Locations counted not stated in the reviewed record — Open more than three years before2025 · PDF p. 71
    6. [6]Item 19 — Locations counted not stated in the reviewed record — Open less than three years before2025 · PDF p. 71
    7. [7]Item 19 — Locations counted not stated in the reviewed record — Top third · PDF p. 71
    8. [8]Item 19 — Locations counted not stated in the reviewed record — Bottom 10 · PDF p. 71
    9. [9]Item 19 — Locations counted not stated in the reviewed record — Open more than one year before2025 · PDF p. 71
    10. [10]Outlet counts — Item 20, Table 1 · PDF p. 73

    "PDF p." is the page in the PDF file; "printed p." is the number printed on the FDD page. Source document: FDD

    Territory & operations

    227 addresses in Franopolis's imported location list. Coverage may differ from Item 20 outlet counts.

    These are contract disclosures, not confirmation that any territory is currently available.

    Legal & agreement

    Franchisor financial statements

    Fiscal yearMeasureReported value
    2025deferred gift card revenues - net$94,577
    2025deferred revenues - franchise-related$1,066,218
    2025cash$5,919,804
    2025accounts receivable - net$2,396,415
    2025notes receivableMore than one value recorded for this year — open the FDD source before comparing$35,714
    2025prepaid and otherMore than one value recorded for this year — open the FDD source before comparing$722,187
    2025total current assets$10,595,846
    2025property and equipment - net$2,616,156
    2025goodwill - net$10,864,978
    2025other noncurrent assets deferred franchise costs, less current portion$1,174,612
    2025total other noncurrent assets$2,781,125
    2025total assets$32,390,883
    2025accounts payableMore than one value recorded for this year — open the FDD source before comparing$351,875
    2025accrued expensesMore than one value recorded for this year — open the FDD source before comparing$1,599,945
    2025due to affiliate$347,335
    2025other noncurrent liabilities deferred revenues - franchise-related, less current portion$6,627,530
    2025total other noncurrent liabilities$6,627,530
    2025total liabilities$10,087,480
    2025members’ equity$22,303,403
    2025franchise fees$1,762,373
    2025marketing revenues$3,663,793
    2025technology and other revenues$2,686,499
    2025franchise - related costs$2,285,359
    2025cost of product sales$8,200,558
    2025payroll$3,914,729
    2025general and administrative$4,536,702
    2025depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$4,835,913
    2025other charges$3,396,930
    2025depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$4,835,913
    2025provision for credit loss$158,390
    2025gift card breakage-$491,000
    2025interest on notes receivable-$53,550
    2025accounts receivable-$914,801
    2025notes receivableMore than one value recorded for this year — open the FDD source before comparing$179,188
    2025inventory-$238,167
    2025prepaid and otherMore than one value recorded for this year — open the FDD source before comparing-$250,315
    2025deferred franchise costsMore than one value recorded for this year — open the FDD source before comparing$59,899
    2025due-$200,460
    2025accrued expensesMore than one value recorded for this year — open the FDD source before comparing-$431,470
    2025net cash provided by$981,509
    2025purchase of property and equipment-$801,942
    2025net cash used in investing activities-$801,942
    2025cash - beginning of period$5,740,237
    2025balance - december 31, 2025More than one value recorded for this year — open the FDD source before comparing$39,922,079
    2025total current liabilities$3,459,950
    2025royalties$12,196,861
    2025total revenues$30,964,276
    2025net-$813,181
    2025total members’ equity$22,303,403
    2025total liabilities and members’ equity$32,390,883
    2025product sales$10,654,750
    2025total expenses$31,777,457
    2025marketing, advertising and promotion$4,607,266
    2025accounts payableMore than one value recorded for this year — open the FDD source before comparing-$85,717
    2025deferred revenues-$773,220
    2025net increase$179,567
    2025cash - end of period$5,919,804
    2025balance - december 31, 2025More than one value recorded for this year — open the FDD source before comparing-$17,618,676
    2025inventory - net$1,346,171
    2025deferred franchise costsMore than one value recorded for this year — open the FDD source before comparing$175,555
    2025intangible assets - net$5,532,778
    2025notes receivable, less current portion$1,606,513
    2024accounts payableMore than one value recorded for this year — open the FDD source before comparing$437,592
    2024deferred revenues - franchise-related$1,082,072
    2024cash$5,740,237
    2024accounts receivable - net$1,640,004
    2024notes receivableMore than one value recorded for this year — open the FDD source before comparing$58,000
    2024inventory - net$1,108,004
    2024deferred franchise costsMore than one value recorded for this year — open the FDD source before comparing$167,970
    2024prepaid and otherMore than one value recorded for this year — open the FDD source before comparing$471,872
    2024property and equipment - net$2,155,823
    2024goodwill - net$12,885,950
    2024intangible assets - net$8,006,111
    2024notes receivable, less current portion$1,709,865
    2024total other noncurrent assets$2,951,961
    2024total assets$35,185,932
    2024accrued expensesMore than one value recorded for this year — open the FDD source before comparing$2,031,416
    2024due to affiliate$547,795
    2024deferred gift card revenues - net$386,324
    2024total current liabilities$4,485,199
    2024other noncurrent liabilities deferred revenues - franchise-related, less current portion$7,584,149
    2024total liabilities$12,069,348
    2024members’ equity$23,116,584
    2024total members’ equity$23,116,584
    2024total liabilities and members’ equity$35,185,932
    2024royalties$11,268,035
    2024franchise fees$1,750,910
    2024marketing revenues$3,827,873
    2024technology and other revenues$2,340,160
    2024product sales$10,156,024
    2024total revenues$29,343,002
    2024franchise - related costs$2,288,992
    2024cost of product sales$7,760,772
    2024general and administrative$5,426,007
    2024other charges$1,753,103
    2024total expenses$27,610,006
    2024depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$4,612,997
    2024provision for credit loss$168,565
    2024gain on assumed liability-$682,512
    2024accounts receivable$237,508
    2024notes receivableMore than one value recorded for this year — open the FDD source before comparing-$467,236
    2024inventory-$11,727
    2024due$24,657
    2024accounts payableMore than one value recorded for this year — open the FDD source before comparing$120,217
    2024accrued expensesMore than one value recorded for this year — open the FDD source before comparing-$558,199
    2024deferred revenues$413,265
    2024accrued marketing expenses-$45,807
    2024net cash provided by$5,244,356
    2024purchase of property and equipment-$1,896,727
    2024net cash used in investing activities-$1,896,727
    2024net increase$3,347,629
    2024cash - beginning of period$2,392,608
    2024cash - end of period$5,740,237
    2024balance - december 31, 2024More than one value recorded for this year — open the FDD source before comparing$39,922,079
    2024balance - december 31, 2024More than one value recorded for this year — open the FDD source before comparing-$16,805,495
    2024total other noncurrent liabilities$7,584,149
    2024depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$4,612,997
    2024payroll$1,654,247
    2024marketing, advertising and promotion$4,113,888
    2024interest on notes receivable-$52,963
    2024net$1,732,996
    2024gift card breakage-$309,000
    2024prepaid and otherMore than one value recorded for this year — open the FDD source before comparing$240,553
    2024deferred franchise costsMore than one value recorded for this year — open the FDD source before comparing-$178,958
    2024total current assets$9,186,087
    2024other noncurrent assets deferred franchise costs, less current portion$1,242,096
    2023royalties$8,812,602
    2023franchise fees$1,260,839
    2023marketing revenues$4,247,316
    2023product sales$8,451,896
    2023total revenues$24,851,076
    2023cost of product sales$6,962,726
    2023payroll$1,234,750
    2023marketing, advertising and promotion$4,460,710
    2023general and administrative$5,597,866
    2023depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$4,507,577
    2023other charges$5,277,709
    2023total expenses$29,780,816
    2023net-$4,929,740
    2023depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$4,507,577
    2023provision for credit loss$2,900
    2023provision for obsolete inventory$40,000
    2023accounts receivable-$1,004,209
    2023inventory-$1,136,277
    2023deferred franchise costs-$608,703
    2023due-$254,826
    2023accounts payable$103,745
    2023accrued expenses$1,673,006
    2023accrued marketing expenses-$15,056
    2023net cash provided by-$1,222,341
    2023net cash used in investing activities-$120,683
    2023distribution-$5,350,000
    2023net increase-$6,693,024
    2023cash - beginning of period$9,085,632
    2023cash - end of period$2,392,608
    2023balance - december 31, 2023More than one value recorded for this year — open the FDD source before comparing$39,922,079
    2023balance - december 31, 2023More than one value recorded for this year — open the FDD source before comparing$21,383,588
    2023other franchise related revenues$71,095
    2023technology and other revenues$2,007,328
    2023gift card breakage-$209,386
    2023franchise - related costs$1,739,478
    2023notes receivable-$1,247,666
    2023prepaid and other-$249,154
    2023deferred liabilities - assumed contracts-$71,095
    2023purchase of property and equipment-$120,683
    2023deferred revenues$2,176,543
    2023net cash used in financing activities-$5,350,000
    2023balance - december 31, 2023More than one value recorded for this year — open the FDD source before comparing-$18,538,491
    2022balance - december 31, 2022More than one value recorded for this year — open the FDD source before comparing$45,272,079
    2022balance - december 31, 2022More than one value recorded for this year — open the FDD source before comparing-$13,608,751
    2022balance - december 31, 2022More than one value recorded for this year — open the FDD source before comparing$31,663,328
    —buy back of members' unitsMore than one value recorded for this year — open the FDD source before comparing-$5,350,000
    —buy back of members' unitsMore than one value recorded for this year — open the FDD source before comparing-$5,350,000

    These figures describe the franchisor company, not individual franchise locations.

    SBA-backed loans to franchisees

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    Source: U.S. Small Business Administration 7(a) & 504 FOIA data. Loan volume is not a measure of franchisee success.

    Related research

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    Head-to-head comparisons

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    Compare reviewed facts

    At a glance

    Business history

    Not reviewed

    Owner participation

    Not reviewed

    Territory language

    Litigation disclosure

    Not reviewed

    Bankruptcy disclosure

    Not reviewed

    Agreement term

    Not reviewed

    Reader notes on wording

    Our automated check found that these summaries may not match the FDD's exact wording. Read the FDD excerpt itself; it is the authoritative text. Core cost, fee, Item 19 and outlet figures are not affected.

    • Item 5 · PDF p. 13 · 2026 FDD

      Our summary: Six-to-nine-shop development fee per shop

      “ment in which you agree to develop two Shops; (2) $35,000 multiplied by each Shop you agree to develop if you sign an Area Development Agreement in which you agree to develop three to five Shops; (3) $30,000 multiplied by each Shop you agree to develop if you sign an Area Development Agreement in which you agree to develop six to nine Shops; and (4) $25,000 multiplied by each Shop you agree to develop if you sign an Area Development Agreement in which you agree to develop 10 or more Shops. Typically, an area developer is expected to develop three to five Shops and the range of the Development Fee in that case would be $105,000 to $175,000. You will be required to enter into our then-current form of Franchise Agreement for each Shop you wish to develop under your Area Development Agreement, but you will not be required to pay an Initial Franchise Fee at the time you execute each of these ”

      Note: This is a state-specific Item 20 entry. The required review scope is limited to national/systemwide Total rows, so this state entry is not verifiable under that scope.

    • Item 5 · PDF p. 13 · 2026 FDD

      Our summary: Single-shop initial franchise fee nonrefundable

      “ning a Franchise Agreement under an Area Development Agreement, when you sign a Franchise Agreement to develop a single Shop, you must pay us an initial franchise fee (the “Initial Franchise Fee”) of $50,000. You must pay the Initial Franchise Fee as a lump sum by wire transfer. The Initial Franchise Fee is fully earned by us when paid by you, and is not refundable. Development Fee . If we grant you the right to develop two or more Shops under an Area Development Agreement, you must pay us a one-time development fee (the “Development Fee”) upon executing your Area Development Agreement. Your Development Fee will depend on the number of Shops we grant you the right to develop within the Development Area and is calculated as follows: (1) $100,000 if you sign an Area Development Agreement in which you agree to develop two Shops; (2) $35,000 multiplied by each Shop you agree to develop if yo”

      Note: This is a state-specific Item 20 entry. The required review scope is limited to national/systemwide Total rows, so this state entry is not verifiable under that scope.

    • Item 5 · PDF p. 13 · 2026 FDD

      Our summary: Two-shop development fee

      “upon executing your Area Development Agreement. Your Development Fee will depend on the number of Shops we grant you the right to develop within the Development Area and is calculated as follows: (1) $100,000 if you sign an Area Development Agreement in which you agree to develop two Shops; (2) $35,000 multiplied by each Shop you agree to develop if you sign an Area Development Agreement in which you agree to develop three to five Shops; (3) $30,000 multiplied by each Shop you agree to develop if you sign an Area Development Agreement in which you agree to develop six to nine Shops; and (4) $25,000 multiplied by each Shop you agree to develop if you sign an Area Development Agreement in which you agree to develop 10 or more Shops. Typically, an area developer is expected to develop three to five Shops and the range of the Development Fee in that case would be $105,000 to $175,000. You wi”

      Note: This is a state-specific Item 20 entry. The required review scope is limited to national/systemwide Total rows, so this state entry is not verifiable under that scope.

    • Item 5 · PDF p. 13 · 2026 FDD

      Our summary: Three-to-five-shop development fee per shop

      “f Shops we grant you the right to develop within the Development Area and is calculated as follows: (1) $100,000 if you sign an Area Development Agreement in which you agree to develop two Shops; (2) $35,000 multiplied by each Shop you agree to develop if you sign an Area Development Agreement in which you agree to develop three to five Shops; (3) $30,000 multiplied by each Shop you agree to develop if you sign an Area Development Agreement in which you agree to develop six to nine Shops; and (4) $25,000 multiplied by each Shop you agree to develop if you sign an Area Development Agreement in which you agree to develop 10 or more Shops. Typically, an area developer is expected to develop three to five Shops and the range of the Development Fee in that case would be $105,000 to $175,000. You will be required to enter into our then-current form of Franchise Agreement for each Shop you wish”

      Note: This is a state-specific Item 20 entry. The required review scope is limited to national/systemwide Total rows, so this state entry is not verifiable under that scope.

    • Item 20 · PDF p. 73 · 2026 FDD

      Our summary: Table 1 Franchised 2023 — Start

      “2023 149 159 +10”

      Note: This is an outlet-type row in Item 20 rather than the required national/systemwide Total Outlets row.

    • Item 20 · PDF p. 73 · 2026 FDD

      Our summary: Table 1 Franchised 2025 — End

      “2025 176 198 +22”

      Note: This is a Franchised outlet-type row or state-specific transfers entry, not a national/systemwide Total row, so it is outside the required Item 20 scope.

    • Item 20 · PDF p. 73 · 2026 FDD

      Our summary: Table 1 Franchised 2023 — End

      “2023 149 159 +10”

      Note: This is an outlet-type row in Item 20 rather than the required national/systemwide Total Outlets row.

    • Item 20 · PDF p. 73 · 2026 FDD

      Our summary: Table 1 Franchised 2024 — Start

      “2024 159 176 +17”

      Note: This is an outlet-type row in Item 20 rather than the required national/systemwide Total Outlets row.

    • Item 20 · PDF p. 73 · 2026 FDD

      Our summary: Table 1 Franchised 2024 — End

      “2024 159 176 +17”

      Note: This is an outlet-type row in Item 20 rather than the required national/systemwide Total Outlets row.

    • Item 20 · PDF p. 73 · 2026 FDD

      Our summary: Table 1 Franchised 2025 — Start

      “2025 176 198 +22”

      Note: This is a Franchised outlet-type row or state-specific transfers entry, not a national/systemwide Total row, so it is outside the required Item 20 scope.

    Independent analysis of franchisor-provided data. Not investment advice. Franopolis does not distribute FDDs.