According to Anago's 2025 Franchise Disclosure Document, Item 23 discloses information about former subfranchisees. Specifically, it includes the names, last known home addresses, and home telephone numbers of all franchisees that have been terminated, canceled, not renewed, or otherwise voluntarily or involuntarily ceased to do business under a Subfranchise Rights Agreement during the most recently completed fiscal year. This also applies to franchisees who have not communicated with Anago within 10 weeks of the effective date of the FDD.

For a prospective Anago subfranchisee, this information is valuable as it provides a glimpse into the turnover rate and the reasons why subfranchisees may have left the system. By reviewing this list, potential franchisees can identify trends or patterns that may be concerning, such as a high number of terminations or non-renewals in a particular region. This information can be used to conduct further due diligence and ask targeted questions to the franchisor about the support and training provided to subfranchisees, as well as the overall health of the Anago franchise system.

However, the FDD excerpt states that there are no former subfranchisors to report. This could be interpreted positively, suggesting a stable and successful franchise system. However, a prospective franchisee should still verify this information and inquire about the reasons for any past departures, if any, to gain a comprehensive understanding of the franchise opportunity.