What was the net change in the total number of Carvel outlets from the start to the end of 2024?

According to Carvel's 2025 Franchise Disclosure Document, the net change in the total number of Carvel outlets during 2024 was an increase of 10 locations. At the beginning of 2024, there were 326 total outlets, and by the end of the year, this number had increased to 336. This indicates a positive growth trend for the Carvel franchise system during that period.

Specifically, this net change reflects the activity of franchised Carvel locations. The FDD indicates that the number of company-owned Carvel locations remained at zero throughout 2024. Therefore, all growth is attributable to changes in the number of franchise-operated stores.

For a prospective franchisee, this information suggests that Carvel, as a franchise, is expanding. A net increase in locations can be a positive sign, indicating brand growth and potentially increased brand recognition. However, it is important for a potential franchisee to investigate further into the reasons behind the changes, such as the number of new openings versus closures, to gain a more comprehensive understanding of the franchise's performance and stability.