As of December 31, 2023, how many Better Blend franchisees were operational?
Better_Blend Franchise · 2024 FDDAnswer from 2024 FDD Document
The initial franchise fees collected are determined on a franchisee-by-franchisee basis. The Company had ten franchisees under contract and four were operational as of December 31, 2023.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 43)
What This Means (2024 FDD)
According to Better Blend's 2024 Franchise Disclosure Document, as of December 31, 2023, four Better Blend franchise locations were operational. The FDD also notes that Better Blend had ten franchisees under contract at that time.
This information is useful for potential franchisees to understand the current scale of Better Blend's franchise system. It provides a snapshot of how many outlets were actively operating at the end of 2023, which can be an indicator of the brand's maturity and market presence.
It's important to note that while ten franchisees were under contract, only four were operational. This difference may be due to various factors such as the time it takes to secure locations, complete build-out, and train staff. A prospective franchisee should inquire about the typical timeline from signing a franchise agreement to opening a Better Blend location to better understand this aspect of the business.