Franchise Glossary
FDD Item 20
What is FDD Item 20 in franchising?
The section listing every current franchisee in the system by name, location, and contact information. This is the most underused tool in franchise due diligence. Calling franchisees directly from Item 20 (not just the ones the franchisor refers you to) is one of the most reliable ways to understand what it is actually like to operate that business.