As of December 31, 2023, how many Better Blend franchisees were under contract?
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, Better Blend had ten franchisees under contract. Of those ten, four were operational at that time.
This information is relevant for prospective franchisees as it provides a snapshot of the Better Blend franchise system's growth and operational status at the end of 2023. Knowing the number of franchisees under contract versus the number of operational units can indicate the pace at which new franchises are opening and becoming active within the system.
It's important to note that having franchisees 'under contract' means they have signed an agreement but may not yet have opened their Better Blend location. This could be due to various factors such as site selection, build-out, training, or other pre-opening activities. The difference between the number of franchisees under contract and those that are operational can give potential franchisees an idea of the typical timeline from signing the agreement to opening a Better Blend franchise.