How many Bor Restoration franchises opened in 2023?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
| State | Column 2 Year | 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 |
|---|---|---|---|---|---|---|---|---|
| 2022 | 2 | 0 | 0 | 0 | 0 | 0 | 3 | |
| 2023 | 2 | 1 | 0 | 0 | 0 | 0 | 3 | |
| Maryland | 2021 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 2022 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 2023 | 0 | 1 | 0 | 0 | 0 | 0 | 1 | |
| Michigan | 2021 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 2022 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 2023 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | |
| Minnesota | 2021 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 2022 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 2023 | 0 | 1 | 0 | 0 | 0 | 0 | 1 | |
| Nevada | 2021 | 1 | 0 | 0 | 0 | 0 | 0 | 1 |
| 2022 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | |
| 2023 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | |
| New | 2021 | 0 | 1 | 0 | 0 | 0 | 0 | 1 |
| Jersey | 2022 | 1 | 0 | 0 | 0 | 0 | 0 | 1 |
| 2023 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | |
| North | 2021 | 2 | 1 | 0 | 0 | 0 | 0 | 3 |
| Carolina | 2022 | 3 | 0 | 1 | 0 | 0 | 0 | 2 |
| 011 | 2023 | 2 | 3 | 1 | 0 | 0 | 0 | 5 |
| Ohio | 2021 | 0 | 1 | 0 | 0 | 0 | 0 | 1 |
| 2022 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | |
| Ollebana | 2023 | 1 | 2 | 0 | 0 | 0 | 0 | 3 |
| Oklahoma | 2021 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 2022 | 0 | 0 2 | 0 | 0 | 0 | 0 | 0 | |
| South | 2023 2021 | 0 | 0 | 0 | 0 | 0 | 2 | |
| South | 2021 | - | 0 | 0 | 0 | 0 | 1 | |
| Carolina | ||||||||
| Caronna | 2022 | 1 | 0 | 0 | 0 | 0 | 0 | 1 1 |
| Tennessee | 2023 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 1 6111163566 | 2021 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 2023 | 0 | 2 | 0 | 0 | 0 | 0 | 2 | |
| Texas | 2023 | 0 | 1 | 0 | 0 | 0 | 0 | 1 |
| 1 CAAS | 2021 | 1 | 2 | 0 | 0 | 0 | 0 | 3 |
| 2023 | 3 | 6 | 0 | 0 | 0 | 0 | 9 | |
| Utah | 2021 | 0 | 1 | 0 | 0 | 0 | 0 | 1 |
| Can | 2022 | 1 | 0 | 0 | 0 | 0 | 0 | 1 |
| 2023 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | |
| Totals | 2020 | 1 | 1 3 | 1 | I | |||
| 1 0 4413 | 2021 | 14 | 7 | 1 | 0 | 0 | 0 | 20 |
| 2022 | 20 | 4 | 1 | 0 | 0 | 1 | 22 | |
| 2023 | 22 | 30 | 0 | 0 | 0 | 2 | 50 |
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 30 franchises opened during 2023. This number reflects the total franchise openings across all states listed in the document. This indicates a significant growth in the number of Bor Restoration franchises during that year.
Specifically, the data shows the number of franchises opened in various states. For example, in Maryland, one franchise opened in 2023. Similarly, in Michigan, Minnesota, Idaho and Illinois one franchise each opened in 2023. North Carolina saw three franchise openings, while Ohio had two. Tennessee had two franchise openings and Texas had one.
For a prospective franchisee, this information is valuable in understanding the brand's expansion rate and market penetration in different regions. The substantial increase in franchise openings in 2023 could be seen as a positive sign, indicating growing interest in the Bor Restoration franchise system. However, it's important to also consider factors such as terminations and non-renewals to get a complete picture of the franchise network's health and stability.