How many Budget franchises opened in New Jersey during 2023?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
| State | Year | Outlets at Start of Year | Outlets Opened | Outlets Reacquired from Franchisee | Outlets Closed | Outlets Sold to Franchisees | Outlets at Year End |
|---|---|---|---|---|---|---|---|
| New Jersey | 2022 | 41 | 5 | 0 | 1 | 0 | 45 |
| 2023 | 45 | 1 | 0 | 2 | 0 | 44 | |
| 2024 | 44 | 1 | 0 | 2 | 0 | 43 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 71–79)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, one Budget franchise opened in New Jersey during 2023. The number of outlets at the start of the year was 45, and after opening one franchise and closing two, the number of outlets at the end of 2023 was 44.
It is important to note that while one franchise location opened in New Jersey, two others closed during the same year. This could indicate challenges or market saturation in the area. A prospective franchisee should investigate the reasons for these closures and assess the local market conditions before investing in a Budget franchise in New Jersey.
Overall, the information in Item 20 provides valuable insight into the growth and stability of the Budget franchise system, as well as the performance of franchises in specific states. Reviewing this data carefully is a crucial step in the due diligence process for any potential franchisee.