Second, its asset-light franchising model enabled rapid expansion. Franchised stores accounted for more than 95% of the total, and 97.2% of revenue came from selling ingredients to franchisees and collecting service fees. This model lowers expansion costs, helping the company complete a nationwide rollout in a short period. Store growth in lower-tier cities was particularly strong, with the share of the lower-tier market rising from 19.8% in 2023 to 26.6% as of September 2025.
A switch in position by Donald Trump’s administration also now looks likely to leave Florida on the hook for at least $608m spent on the harsh Everglades detention and deportation facility and other immigration jails, the outlet said. That was despite gloating by DeSantis in September that the state would be reimbursed from federal funds.
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