According to Face Foundrie's 2025 Franchise Disclosure Document, there were no transfers of outlets from franchisees to new owners during the 2023 fiscal year. This information is detailed in Table No. 2, which specifically tracks such transfers for the fiscal years 2022 through 2024.

For a prospective franchisee, this data indicates stability in ownership within the Face Foundrie franchise system. The absence of transfers suggests that franchisees are generally retaining their businesses rather than selling them to new owners. This could be due to satisfaction with the franchise, profitability, or other factors that contribute to long-term ownership.

It is important to note that this table only tracks transfers to new owners other than the franchisor. Transfers back to Face Foundrie itself would be recorded elsewhere, such as in the table that tracks outlets reacquired from franchisees. A prospective franchisee should consider this information alongside other data in Item 20, such as the number of terminations and non-renewals, to get a comprehensive view of outlet turnover.