How many Bor Restoration franchises opened in Michigan during 2023?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
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| Kentucky | 2021 | 2 | 0 | 0 | 0 | 0 | 0 | 2 |
| 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 |
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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 Michigan during 2023. The table provided in Item 20 of the FDD details the status of franchised outlets for the years 2021 through 2023, broken down by state. This table includes information on franchises at the start of the year, franchises opened, terminations, non-renewals, reacquired franchises, outlets that ceased operation for other reasons, and the number of franchises at the end of the year.
For a prospective franchisee, this information is valuable in assessing the growth and stability of the Bor Restoration franchise system in specific geographic areas. Seeing that one franchise opened in Michigan in 2023, a potential franchisee might want to investigate further to understand the market dynamics and the success of that particular franchise. It's also important to note that there were no terminations, non-renewals, or reacquired franchises in Michigan during that year, suggesting a degree of stability.
It is important to consider this data in conjunction with other factors, such as the overall number of franchises opened across all states (30 in 2023), and the number of terminations or closures. This broader perspective can provide a more comprehensive understanding of the health and growth trajectory of the Bor Restoration franchise system. A prospective franchisee should also speak with existing franchisees in Michigan to gain firsthand insights into their experiences and the local market conditions.