What was the net change in the total number of Potbelly Sandwich Works outlets in 2024?
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 total net change in the number of outlets during 2024 was an increase of 17. This figure accounts for both franchised and company-owned locations. At the start of 2024, there were 424 total Potbelly Sandwich Works outlets, and by the end of the year, that number had risen to 441.
Specifically, the number of franchised Potbelly Sandwich Works locations saw a net increase of 16 units, growing from 79 at the beginning of 2024 to 95 by the year's end. Company-owned stores experienced a smaller net increase of 1, with the number of locations increasing from 345 to 346 during 2024.
A prospective franchisee should note that while the overall trend in 2024 was positive, growth can vary significantly between franchised and company-owned stores. Reviewing historical data and understanding the factors that influence these changes is crucial for assessing the potential stability and growth of the Potbelly Sandwich Works system. This information provides insight into the brand's expansion strategy and the relative performance of its different ownership models.
It's also important to consider that these figures represent net changes, which account for both new openings and closures. A more detailed analysis of outlet openings and closures, as presented elsewhere in Item 20, can provide a more nuanced understanding of the dynamics within the Potbelly Sandwich Works franchise system.