What was the net change in the total number of 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 total number of outlets in 2023 was -5. This means that the total number of Potbelly Sandwich Works locations decreased by 5 during that year. At the start of 2023, there were 429 total outlets, and by the end of the year, the total was 424.
Specifically, the change reflects both franchised and company-owned stores. In 2023, franchised outlets experienced a net increase of 34 locations, growing from 45 to 79. However, company-owned outlets decreased by 39, going from 384 to 345. The combination of these changes resulted in the overall net decrease of 5 outlets for Potbelly Sandwich Works.
For a prospective franchisee, this data indicates the overall contraction of company-owned stores, even while franchised locations increased. Monitoring these trends over several years can provide insights into Potbelly Sandwich Works's strategic focus, such as a possible shift towards a franchise-heavy model or potential struggles with company-owned store performance. It is important to further investigate the reasons behind these changes to assess the stability and growth potential of the franchise system.