What was the total number of Potbelly Sandwich Works outlets that closed in 2023?
Potbelly_Sandwich_Works Franchise · 2025 FDDAnswer from 2025 FDD Document
tus of Company-Owned Outlets For years 2022 to 2024
| Col. 1 State | Col. 2 Year | Col. 3 Outlets at Start of the Year | Col. 4 Outlets Opened | Col. 5 Outlets Reacquired From Franchisee | Col. 6 Outlets Closed | Col. 7 Outlets Sold to Franchisee | Col. 8 Outlets at End of the Year |
|---|---|---|---|---|---|---|---|
| Arizona | 2022 | 10 | 0 | 0 | 0 | 0 | 10 |
| 2023 | 10 | 0 | 0 | 0 | 0 | 10 | |
| 2024 | 10 | 0 | 0 | 0 | 0 | 10 | |
| Colorado | 2022 | 10 | 0 | 0 | 0 | 0 | 10 |
| 2023 | 10 | 0 | 0 | 0 | 0 | 10 | |
| 2024 | 10 | 0 | 0 | 0 | 0 | 10 | |
| District of | 2022 | 22 | 0 | 0 | 1 | 0 | 21 |
| Columbia | |||||||
| 2023 | 21 | 0 | 0 | 0 | 0 | 21 | |
| 2024 | 21 | 1 | 0 | 1 | 0 | 21 | |
| Illinois | 2022 | 111 | 0 | 0 | 2 | 0 | 109 |
| 2023 | 109 | 1 | 0 | 2 | 0 | 108 | |
| 2024 | 108 | 1 | 0 | 0 | 0 | 109 | |
| Indiana | 2022 | 9 | 0 | 0 | 0 | 0 | 9 |
| 2023 | 9 | 0 | 0 | 0 | 0 | 9 | |
| 2024 | 9 | 0 | 0 | 0 | 0 | 9 | |
| Kansas | 2022 | 3 | 0 | 0 | 0 | 0 | 3 |
| 2023 | 3 | 0 | 0 | 0 | 0 | 3 |
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, a total of 7 company-owned outlets closed in 2023. Additionally, 4 franchised Potbelly Sandwich Works locations were terminated during the same year. When combined with the company-owned closures, this brings the total number of Potbelly Sandwich Works closures to 11 in 2023.
These figures provide insight into the stability and performance of Potbelly Sandwich Works locations. For prospective franchisees, understanding the reasons behind these closures is crucial. Terminations could indicate issues with franchisee compliance or performance, while closures of company-owned stores might reflect strategic decisions or market challenges. A high number of closures could be a red flag, suggesting potential difficulties in maintaining profitable operations.
It is important to note that while 7 company-owned stores closed, 1 new company-owned store opened in 2023. Similarly, while 4 franchised locations were terminated, 38 new franchised locations opened. These numbers suggest that while some locations struggled, Potbelly Sandwich Works was still expanding its franchise network overall. A prospective franchisee should investigate the specific reasons for closures and terminations to assess the overall health and sustainability of a Potbelly Sandwich Works franchise.
Analyzing the data across different states reveals further details. For example, in Maryland, one company-owned store closed in 2023, while in Washington, one company-owned store closed. Colorado saw two franchised terminations in 2023. This state-by-state breakdown can help potential franchisees identify regions where Potbelly Sandwich Works has performed well or faced challenges, aiding in their decision-making process regarding location selection and market analysis.