How many total Annex Brands outlets were operating at the start of 2023?
Annex_Brands Franchise · 2025 FDDAnswer from 2025 FDD Document
| Outlet Type | Year | Outlets At Start Of Year | Outlets At End Of Year | Net Change |
|---|---|---|---|---|
| Franchised | 2022 | 559 | 562 | +3 |
| 2023 | 562 | 565 | +3 | |
| 2024 | 565 | 567 | +2 | |
| Company- | 2022 | 1 | 0 | -1 |
| Owned | ||||
| 2023 | 0 | 0 | 0 | |
| 2024 | 0 | 0 | 0 | |
| Total Outlets | 2022 | 560 | 562 | +2 |
| 2023 | 562 | 565 | +3 | |
| 2024 | 565 | 567 | +2 |
Source: Item 20 — Outlets and Franchisee Information (FDD pages 78–109)
What This Means (2025 FDD)
According to Annex Brands's 2025 Franchise Disclosure Document, there were 562 total outlets operating at the start of 2023. This number is derived from the 'Total Outlets' row for the year 2023, which indicates 562 outlets at the start of the year and 565 at the end of the year. This represents a net change of +3 outlets during 2023. These figures include both franchised and company-owned locations.
Specifically, the data shows that there were 562 franchised outlets at the beginning of 2023 and no company-owned outlets. This means that all 562 outlets operating at the start of 2023 were franchised locations. The net increase of 3 outlets during the year suggests that Annex Brands experienced growth in its franchise network during this period.
For a prospective franchisee, this information is useful for understanding the overall size and growth trend of Annex Brands. A large and growing network can indicate a strong brand presence and successful business model. However, it is important to also consider other factors such as the number of terminations or closures, which can provide a more complete picture of the health and stability of the franchise system. Reviewing the performance of existing franchisees and understanding the reasons for any closures is a crucial part of the due diligence process.