How many 360 Painting franchises were closed during 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 360 Painting's 2025 Franchise Disclosure Document, 19 franchises were closed during the year 2023. At the start of 2022, there were 138 360 Painting franchises. During 2023, 41 franchises were sold, and by the end of 2023, the total number of 360 Painting franchises was 160.
This information is crucial for potential franchisees as it provides insight into the stability and performance of the 360 Painting franchise system. A high number of closures could indicate underlying issues with the franchise model, market saturation, or lack of support from the franchisor. Conversely, a low number of closures suggests a healthy and sustainable franchise network.
It's important to note that franchise closures can occur for various reasons, including franchisees retiring, selling their business, or failing to meet the franchisor's standards. Prospective franchisees should investigate the reasons behind any closures to gain a comprehensive understanding of the franchise's health and potential risks. Reviewing historical data over several years, if available, can provide a more accurate picture of franchise stability.
When evaluating a franchise opportunity, it is advisable to speak with current and former franchisees to gather firsthand information about their experiences, challenges, and successes. This can help potential franchisees make an informed decision and assess whether the franchise is a good fit for their skills, goals, and financial resources.