As of Mar 31, 2017, the company franchised 37 Medifast Weight Control Centers and 19 reseller locations.
During fiscal 2016, franchises closed 5 net centers.
At year-end, the company had 20 leases for previously corporate-operated Medifast Weight Control Centers under lease terms ranging from five to ten years. The 20 leases include 17 leases for Centers that were sold to franchise partners during 2014 and entered into sublease agreements with the franchisees.
Weight Control Centers range in size from 1,100 to 2,200 square feet and average approximately 1,600 square feet.
|Total gross square feet (M)||88||88||92||115||183||193|
|Total gross square feet growth||-3.4%||-8.2%||-17.1%||-37.1%||-4.9%||22.0%|
|Avg store gross sq ft||1,600||1,600||1,600||1,600||1,600||1,600|
|Avg store gross sq ft growth||0.0%||0.0%||0.0%||0.0%||0.0%||-0.0%|
Notes:Includes company-operated and franchised weight control centers, though from Q4 2014 onward, all locations are franchised