What was the net change in the number of franchised Potbelly Sandwich Works outlets in 2023?
Potbelly_Sandwich_Works 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 |
|---|---|---|---|---|
| Franchised | 2022 | 46 | 45 | -1 |
| 2023 | 45 | 79 | +34 | |
| 2024 | 79 | 95 | +16 | |
| Column 1 Outlet Type | Column 2 Year | Column 3 Outlets at the Start of the Year | Column 4 Outlets at the End of the Year | Column 5 Net Change |
| --- | --- | --- | --- | --- |
| Company- Owned | 2022 | 397 | 384 | -13 |
| 2023 | 384 | 345 | -39 | |
| 2024 | 345 | 346 | +1 | |
| Total Outlets | 2022 | 443 | 429 | -14 |
| 2023 | 429 | 424 | -5 | |
| 2024 | 424 | 441 | +17 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 70–78)
What This Means (2025 FDD)
According to Potbelly Sandwich Works's 2025 Franchise Disclosure Document, the net change in the number of franchised outlets in 2023 was +34. This means that Potbelly Sandwich Works opened more franchised locations than it closed or lost through other means during that year. At the start of 2023, there were 45 franchised outlets, and by the end of the year, that number had increased to 79.
For a prospective franchisee, this indicates a period of growth in the Potbelly Sandwich Works franchise system. A net positive change suggests that the franchise is expanding and potentially gaining traction in the market. However, it is important to consider the specific reasons behind this growth, such as new market penetration, increased brand recognition, or successful franchisee performance.
It is also worth noting that the net change in company-owned Potbelly Sandwich Works outlets during 2023 was -39, with the number decreasing from 384 to 345. This difference between franchised and company-owned outlets could signal a strategic shift towards franchising as a primary growth model for Potbelly Sandwich Works. A prospective franchisee should investigate the reasons for this shift and how it might affect their investment and operational strategies.
Overall, the information suggests that Potbelly Sandwich Works experienced growth in its franchise network during 2023, but a potential franchisee should conduct thorough due diligence to understand the broader context and sustainability of this growth.