How many Bor Restoration franchises ceased operation for other reasons in 2023?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
| 2 |
Table No. 3 Status of Franchised Outlets For the Years 2021 through 2023
| State | Column 2 Year | Column 3 Franchises at the Start of the Year | Franchises Opened | Terminations | Non- renewals | Reacquired by Franchisor | Column 8 Ceased Operation - other reasons | End of the Year |
|---|---|---|---|---|---|---|---|---|
| Arizona | 2021 | 2 | 0 | 0 | 0 | 0 | 0 | 2 |
| 2022 | 2 | 1 | 0 | 0 | 0 | 1 | 2 | |
| 2023 | 2 | 1 | 0 | 0 | 0 | 1 | 2 | |
| Arkansas | 2021 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 2022 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 2023 | 0 | 1 | 0 | 0 | 0 | 0 | 1 | |
| Colorado | 1 | |||||||
| 2021 | 5 |
Source: Item 20 — Outlets and Franchisee Information (FDD pages 36–39)
What This Means (2024 FDD)
According to Bor Restoration's 2024 Franchise Disclosure Document, a total of 2 Bor Restoration franchises ceased operations for reasons other than terminations, non-renewals, or reacquisition by the franchisor during 2023. This number is derived from an aggregate of individual state-level data. Specifically, Arizona saw 1 franchise close for 'other reasons,' while Georgia also had 1 franchise close for 'other reasons'.
It's important to note that 'other reasons' for ceasing operations can encompass a variety of circumstances. These could include situations like mutual agreement between the franchisee and franchisor to close the location, failure to meet certain performance standards not severe enough to warrant termination, or other unforeseen business challenges that lead to closure. The FDD does not specify the exact reasons, so a prospective franchisee should inquire with Bor Restoration about the specific factors that contribute to these closures.
Understanding the reasons behind these closures can be valuable for potential franchisees. It provides insights into the challenges that existing franchisees might face and allows prospective franchisees to assess their own preparedness and risk tolerance. Investigating these 'other reasons' can also reveal potential areas where Bor Restoration provides support or where franchisees might need to seek additional resources to ensure their business's success.