How many Bor Restoration franchises were operating in Utah at the end of 2021?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
|
| 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 |
|---|
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, at the end of 2021, there was one franchise operating in the state of Utah. The table provided in Item 20 of the FDD details the number of franchises operating in each state over the past three years. Specifically, for Utah in 2021, the table shows that there was one franchise at the end of the year. This indicates that Bor Restoration had a limited presence in Utah at that time.
For a prospective franchisee, this information is useful for understanding the existing market penetration of Bor Restoration in Utah. The fact that there was only one franchise in 2021 suggests that the market may be relatively untapped, presenting both opportunities and challenges. A new franchisee might benefit from less competition from within the Bor Restoration system, but they may also face the task of building brand awareness and establishing a customer base in the area.
It's important to note that the presence of only one franchise in Utah in 2021 does not necessarily indicate the potential for success or failure in that market. Other factors, such as local market conditions, competition from other restoration services, and the franchisee's own business acumen, will also play a significant role. Prospective franchisees should conduct thorough market research and due diligence to assess the viability of a Bor Restoration franchise in Utah or any other specific location.