FranchiseVitals / Shrinking
Franchises That Are Losing Locations
A brand can still be selling franchises aggressively while quietly closing more locations than it opens. These are the ones where the most recent year on file shows net loss -- worth asking about directly before you sign anything.
Orangetheory FitnessFitness
2025: -74 units
-72 net over 3yrCode NinjasEducation
2025: -1 units
-46 net over 3yrAmazing Lash StudioBeauty
2025: -36 units
-110 net over 3yrOne down year isn't automatically a red flag -- check each brand's full multi-year history on its own page for the fuller picture.