How many Aplus company-owned outlets closed in New Jersey during 2023?
Aplus Franchise · 2024 FDDAnswer from 2024 FDD Document
| Outlets at | Outlets | Outlets Reacquired | Outlets | Outlets Sold to | Outlets at | ||
|---|---|---|---|---|---|---|---|
| State | Year | ||||||
| Start of Year | Opened | from Franchisees | Closed | Franchisee1 | End of Year | ||
| NJ | 2021 | 21 | 0 | 0 | 0 | 0 | 21 |
| 2022 | 21 | 0 | 0 | 0 | 0 | 21 | |
| 2023 | 21 | 0 | 0 | 2 | 0 | 19 | |
| Totals | 2021 | 21 | 0 | 0 | 0 | 0 | 21 |
| 2022 | 21 | 0 | 0 | 0 | 0 | 21 | |
| 2023 | 21 | 0 | 0 | 2 | 0 | 19 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 65–68)
What This Means (2024 FDD)
According to Aplus's 2024 Franchise Disclosure Document, two company-owned outlets in New Jersey closed during 2023. The table provided in Item 20 details the status of company-owned outlets, showing that New Jersey started 2023 with 21 company-owned outlets and ended the year with 19, indicating a net decrease of two locations. There were no company-owned openings or re acquisitions from franchisees during that year.
This information is relevant for prospective franchisees as it provides insight into the stability and performance of company-owned stores in specific geographic areas. Closures can indicate market challenges or strategic decisions by the franchisor. Observing the number of closures alongside openings and re acquisitions can help potential franchisees assess the overall health and growth strategy of Aplus.
It is important to note that while the table shows the number of closures, it does not provide specific reasons for these closures. A prospective franchisee should inquire with Aplus about the reasons for these closures to gain a deeper understanding of the factors that may impact the success of a location in New Jersey. Understanding the reasons behind closures can help franchisees make informed decisions about location selection and operational strategies.