How many Bor Restoration franchises opened in Maryland during 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 |
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, one franchise opened in Maryland during 2023. The table provided in Item 20 of the FDD outlines the status of franchised outlets for the years 2021 through 2023, offering a detailed view of franchise activity across different states.
Specifically, the table includes data on the number of franchises at the start of each year, the number of franchises opened, terminations, non-renewals, re acquisitions by the franchisor, instances of ceased operation for other reasons, and the number of franchises at the end of the year. This information is crucial for prospective franchisees as it provides insight into the growth, stability, and overall health of the Bor Restoration franchise system in different geographic areas.
For a prospective franchisee, this data helps in assessing the potential market and the level of competition in a specific state. It also offers a glimpse into the support and success rate of existing franchises, which can influence their decision to invest in a Bor Restoration franchise in Maryland or elsewhere. Reviewing this historical data is a key step in performing due diligence before making a franchise investment.