In which states has Exit signed franchise agreements but not yet opened an outlet, and what are the respective counts?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
0 | 0 | 0 | 0 | | (IA,IL,MI,MN,ND,SD,WI) | 2024 | | | | | | |
TABLE 5 PROJECTED OPENINGS OF FRANCHISES AS OF DECEMBER 31, 2024
| State | Franchise Agreements Signed But Outlet Not Opened | Projected New Franchised Outlet in Next Fiscal Year | Projected New Company Owned Outlets in Next Fiscal Year |
|---|---|---|---|
| Upper Midwest | 4 | 9 | 0 |
| (IA,IL,MI,MN,ND,SD,WI) |
OUTLETS AND FRANCHISEE INFORMATION SYSTEMWIDE
TABLE 1 OUTLET SUMMARY – FRANCHISES FOR YEARS 2022 TO 2024
| State | Franchise Agreements Signed But Outlet Not Opened | Projected New Franchised Outlet in Next Fiscal Year | Projected New Company Owned Outlets in Next Fiscal Year |
|---|---|---|---|
| Upper Midwest | 4 | 9 | 0 |
| (IA,IL,MI,MN,ND,SD,WI) |
TABLE 2 TRANSFERS OF OUTLETS FROM FRANCHISEES TO NEW OWNERS (OTHER THAN THE FRANCHISOR) FOR YEARS 2022 TO 2024
| State | Year | Number of Transfers |
|---|---|---|
| Alabama | 2022 | 2 |
| 2023 | 4 | |
| 2024 | 5 | |
| District of Columbia | 2022 | 1 |
| 2023 | 0 | |
| 2024 | 0 |
| State | Year | Number of Transfers | |---|---|---| | Alabama | 2022 | 2 | | | 2023 | 4 | | | 2024 | 5 | | District of Columbia | 2022 | 1 | | | 2023 | 0 | | | 2024 | 0 | | State | Year | Number of Transfers | |---|---|---| | Florida | 2022 | 0 | | | 2023 | 1 | | | 2024 | 4 | | Illinois | 2022 | 0 | | | 2023 | 0 | | | 2024 | 1 | | Indiana | 2022 | 0 | | | 2023 | 1 | | | 2024 | 1 | | Iowa | 2022 | 2 | | | 2023 | 3 | | | 2024 | 0 | | Kentucky | 2022 | 0 | | | 2023 | 6 | | | 2024 | 1 | | Maryland | 2022 | 0 | | | 2023 | 3 | | | 2024 | 0 | | Michigan | 2022 | 3 | | | 2023 | 0 | | | 2024 | 0 | | Minnesota | 2022 | 1 | | | 2023 | 0 | | | 2024 | 2 | | Mississippi | 2022 | 1 | | | 2023 | 0 | | | 2024 | 2 | | Montana | 2022 | 0 | | | 2023 | 0 | | | 2024 | 2 | | New Jersey | 2022 | 0 | | | 2023 | 0 | | | 2024 | 2 | | New York | 2022 | 2 | | | 2023 | 1 | | | 2024 | 1 | | North Carolina | 2022 | 1 | | | 2023 | 0 | | | 2024 | 1 | TABLE 3 STATUS OF FRANCHISE OUTLETS FOR YEARS 2022 TO 2024
| State | Year | Number of Transfers | ||||||
|---|---|---|---|---|---|---|---|---|
| Ohio | 2022 | 1 | ||||||
| 2023 | 0 | |||||||
| 2024 | 0 | |||||||
| Oregon | 2022 | 0 | ||||||
| 2023 | 0 | |||||||
| 2024 | 0 | |||||||
| Rhode Island | 2022 | 0 | ||||||
| 2023 | 0 | |||||||
| 2024 | 1 | |||||||
| South Dakota | 2022 | 0 | ||||||
| 2023 | 1 | |||||||
| 2024 | 1 | |||||||
| Tennessee | 2022 | 3 | ||||||
| 2023 | 2 | |||||||
| 2024 | 4 | |||||||
| Texas | 2022 | 1 | ||||||
| 2023 | 0 | |||||||
| 2024 | 1 | |||||||
| Utah | 2022 | 0 | ||||||
| 2023 | 0 | |||||||
| 2024 | 0 | |||||||
| Virginia | 2022 | 0 | ||||||
| 2023 | 0 | |||||||
| 2024 | 1 | |||||||
| Wisconsin | 2022 | 3 | ||||||
| 2023 | 5 | |||||||
| 2024 | 0 | |||||||
| TOTALS | 2022 | 21 | ||||||
| 2023 | 27 | |||||||
| 2024 | 30 | |||||||
| UNITED STATES | ||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| State | Year | Outlets at Start of Year | Outlets Opened | Terminations | Nonrenewals | Reacquired by Subfranchisor | Ceased Operations – Other Reasons | Outlets at End of Year |
| Alabama | 2022 | 32 | 3 | 0 | 0 | 0 | 0 | 35 |
| 2023 | 35 | 5 | 0 | 1 | 0 | 0 | 39 | |
| 2024 | 39 | 1 | 0 | 0 | 0 | 0 | 40 | |
| Arizona | 2022 | 5 | 0 | 0 | 1 | 0 | 0 | 4 |
| 2023 | 4 | 1 | 0 | 0 | 0 | 0 | 5 | |
| 2024 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 31–42)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, several states have signed franchise agreements but do not yet have an open Exit outlet. Alabama has 5 agreements signed, Florida and Georgia each have 2, and Illinois has 1. Iowa has 1, Kentucky has 1, Massachusetts has 2, Minnesota has 1, Montana has 1, New York has 1, Tennessee has 1, Texas has 1, Virginia has 2, and Wisconsin has 1. The Upper Midwest region, encompassing Iowa, Illinois, Michigan, Minnesota, North Dakota, South Dakota, and Wisconsin, collectively has 4 franchise agreements signed but no open outlets.
This information is crucial for potential franchisees as it indicates where Exit is in the early stages of development. A high number of signed agreements without open outlets could suggest delays in the opening process or other challenges in those markets. Conversely, it could represent an opportunity to establish a strong presence in a relatively untapped market.
Prospective franchisees should investigate the reasons behind the lack of open outlets in these states. Understanding the specific challenges or delays could inform their decision-making process and help them assess the potential risks and opportunities associated with franchising in those areas. It would be prudent to inquire with Exit about their plans for supporting franchisees in these regions and ensuring timely outlet openings.