What was the net change in the total number of Bor Restoration outlets during 2021?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
| Outlet Type | Year | Column 3 Outlets at the Start of the Year | Column 4 Outlets at the end of the Year | Net Changes |
|---|---|---|---|---|
| Franchisee Owned | ||||
| 2021 | 14 | 20 | +6 | |
| 2022 | 20 | 22 | +2 | |
| 2023 | 22 | 50 | +28 | |
| Company-Owned | ||||
| 2021 | 0 | 0 | 0 | |
| 2022 | 0 | 0 | 0 | |
| 2023 | 0 | 0 | 0 | |
| Total Outlets | ||||
| 2021 | 14 | 20 | +6 | |
| 2022 | 20 | 22 | +2 | |
| 2023 | 22 | 50 | +28 |
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, the net change in the total number of outlets during 2021 was an increase of 6. This is based on the systemwide outlet summary, which includes both franchisee-owned and company-owned outlets. At the start of 2021, there were 14 total outlets, and by the end of the year, this number had increased to 20.
For a prospective franchisee, this indicates a period of growth for Bor Restoration during 2021. The increase in outlets suggests that the brand was expanding its presence and market reach. This growth could be seen as a positive sign, reflecting the potential for success and profitability within the franchise system.
It's important to note that this net change reflects the overall system. A deeper dive into the performance of individual outlets, reasons for any closures, and the growth in specific regions would provide a more comprehensive understanding of the franchise's health and stability. Prospective franchisees should also consider the investment costs and ongoing fees associated with opening a Bor Restoration franchise to determine if the opportunity aligns with their financial goals.