What was the net change in the number of franchised Carvel outlets during 2023?
Carvel Franchise · 2025 FDDAnswer from 2025 FDD Document
| Outlet Type | Year | Outlets At The Start Of The Year | Outlets At The End Of The Year | Net Change |
|---|---|---|---|---|
| 2022 | 327 | 328 | +1 | |
| Franchised | 2023 | 328 | 326 | -2 |
| 2024 | 326 | 336 | +10 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 93–99)
What This Means (2025 FDD)
According to Carvel's 2025 Franchise Disclosure Document, the net change in the number of franchised Carvel outlets during 2023 was -2. This means that the total number of franchised Carvel shops decreased by two during that year. At the start of 2023, there were 328 franchised outlets, and by the end of the year, the number had dropped to 326.
This decrease could be due to several factors, such as closures, terminations, or non-renewals of franchise agreements. It's important to note that this net change reflects the overall difference between openings and closures and doesn't provide a complete picture of franchise activity. For instance, while the net change was -2, there were still 12 new Carvel outlets opened and 14 terminations during 2023.
A prospective franchisee should investigate the reasons behind this net decrease to understand the health and stability of the Carvel franchise system. Understanding the specific reasons for closures or terminations can provide valuable insights into potential challenges and opportunities within the franchise.