What was the gross amount of 360 Painting's franchise relationships in 2023?
360_Painting Franchise · 2025 FDDAnswer from 2025 FDD Document
| Franchises as December 31, 2022 | Acquired during the year | Sold during the year | Closed during the year | Franchises as of December 31, 2023 | |
|---|---|---|---|---|---|
| 360 Painting | 138 | - | 41 | 19 | 160 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 56)
What This Means (2025 FDD)
According to the 2025 FDD, 360 Painting had 160 franchises as of December 31, 2023. This number reflects the total number of active franchise agreements in place at the end of that year. During 2023, 41 franchises were sold and 19 were closed. This information provides a snapshot of the brand's growth and stability over the course of the year.
To understand the overall financial health of 360 Painting, it's important to consider these figures in conjunction with other financial metrics. The number of franchises sold indicates the brand's ability to attract new franchisees, while the number of closures can be indicative of challenges faced by existing franchisees. A high number of closures relative to sales could signal potential issues with the franchise model or market conditions.
Prospective franchisees should investigate further to understand the reasons behind franchise sales and closures. This could involve speaking with current and former franchisees, reviewing the company's financial performance, and analyzing market trends. Understanding these factors will help potential franchisees assess the risks and opportunities associated with investing in a 360 Painting franchise.
While the FDD provides data on the number of franchises, it does not disclose the gross sales or revenue generated by these franchise relationships. For a comprehensive financial picture, a prospective franchisee should directly request detailed financial performance representations from 360 Painting, including system-wide gross sales, average franchisee revenue, and profitability metrics. This information is crucial for evaluating the potential return on investment and the overall financial viability of the franchise opportunity.