What was the net change in the number of Apricot Lane franchised outlets during 2024?
Apricot_Lane Franchise · 2025 FDDAnswer from 2025 FDD Document
| Outlet Type | Year | Outlets at the Start of the Year | Outlets at the End of the Year | Net Change |
|---|---|---|---|---|
| Franchised | 2022 | 82 | 108 | +26 |
| 2023 | 108 | 112 | +4 | |
| 2024 | 112 | 109 | -3 | |
| Company-Owned | 2022 | 0 | 0 | 0 |
| 2023 | 0 | 0 | 0 | |
| 2024 | 0 | 0 | 0 | |
| Total Outlets | 2022 | 82 | 108 | +26 |
| 2023 | 108 | 112 | +4 | |
| 2024 | 112 | 109 | -3 |
Note 1: 9 Franchised stores ceased operations in 2022. Of the 9, 1 was owned by a multi-unit franchisee who continued to operate in another location, 3 were at the end of their terms and the franchisees decided not to renew, and 3 retired their businesses. 19 Franchised stores ceased operations in 2023. Of the 19, 1 was owned by a multi-unit franchisee who continued to operate in another location, 9 were at the end of their terms and the franchisees decided not to renew (5 of those were own by a single multi-unit operator), and 10 retired their businesses. 21 Franchised stores ceased operation in 2024. Of the 21, 2 were at the end of their lease and Agreement terms and decided to not renew, 2 were destroyed by hurricane generated floods and decided to not rebuild, and 17 retired their buinesses.
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 41–51)
What This Means (2025 FDD)
According to Apricot Lane's 2025 Franchise Disclosure Document, the net change in the number of franchised outlets during 2024 was a decrease of 3 stores. At the start of 2024, there were 112 franchised outlets, and by the end of the year, the number had dropped to 109. This information is crucial for potential franchisees as it provides a snapshot of the brand's recent growth trajectory. A negative net change could signal challenges within the franchise system that warrant further investigation.
It is important to note that while the net change reflects the overall increase or decrease in the number of franchised locations, it doesn't tell the whole story. For example, 21 franchised stores ceased operations in 2024. Of these, 2 closed due to the end of their lease and agreement terms, 2 were destroyed by hurricane-generated floods, and 17 franchisees retired. Understanding the reasons behind store closures can provide valuable insight into the health and stability of the Apricot Lane franchise system.
Prospective franchisees should consider these factors when evaluating the Apricot Lane franchise opportunity. While a decrease in the number of locations may raise concerns, understanding the reasons behind the closures can help determine whether the issues are systemic or isolated incidents. Further research and due diligence, including speaking with current and former franchisees, are essential to making an informed investment decision.