How many Annex Brands outlets in Minnesota ceased operations for other reasons in 2024?
Annex_Brands Franchise · 2025 FDDAnswer from 2025 FDD Document
| State | Year | Outlets At Start Of Year | Outlets Opened | Termina- tions | Non- Renewals | Reacquired By Franchisor | Ceased Operations For Other Reasons | Outlets At End Of Year |
|---|---|---|---|---|---|---|---|---|
| AR | 2022 | 1 | 0 | 0 | 0 | 0 | 0 | 1 |
| 2023 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | |
| 2024 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | |
| AZ | 2022 | 2 | 0 | 0 | 0 | 0 |
Source: Item 20 — Outlets and Franchisee Information (FDD pages 78–109)
What This Means (2025 FDD)
According to Annex Brands' 2025 Franchise Disclosure Document, one outlet in Minnesota ceased operations for other reasons during 2024. The table provided in Item 20 of the FDD details outlet information by state and year, including openings, terminations, non-renewals, re acquisitions and reasons for ceasing operations. For Minnesota in 2024, the data shows one outlet ceasing operations for other reasons, resulting in zero outlets at the end of the year.
This information is relevant for prospective franchisees as it provides insight into the stability and performance of existing Annex Brands locations. Understanding the reasons why outlets cease operations can help a potential franchisee assess the risks and opportunities associated with investing in a specific market. In this case, the closure in Minnesota may warrant further investigation to understand the specific circumstances and whether they pose a broader concern.
It's important to note that 'ceased operations for other reasons' can encompass a variety of situations, such as voluntary closures due to underperformance, landlord disputes, or other unforeseen circumstances. A prospective franchisee should seek clarification from Annex Brands regarding the specific reasons for closures in their target market to gain a comprehensive understanding of the business environment. This due diligence can inform their decision-making process and help them prepare for potential challenges.