What is the significance of the footnote regarding projected openings for Carbones Pizzeria?

According to Carbones Pizzeria's 2025 Franchise Disclosure Document, the footnote accompanying the projected openings table clarifies that restaurants operated by affiliates are included in the data. Specifically, Table No. 5, titled "Projected Openings as of October 31, 2024," has a footnote indicating that these restaurants are operated by Carbones Pizzeria's affiliates. This distinction is important for prospective franchisees to understand the nature of the outlets included in the projections.

For a potential Carbones Pizzeria franchisee, this means that the projected openings may include locations that are not directly franchised but are instead run by the company's related entities. This could influence a franchisee's expectations regarding the pace of franchise growth versus company-owned growth. It is essential to recognize that the performance and operational characteristics of affiliate-run restaurants might differ from those of franchised locations.

Understanding the role of affiliate-operated restaurants in Carbones Pizzeria's growth strategy is crucial for making an informed investment decision. A prospective franchisee should inquire about the specific number of affiliate-operated restaurants, their performance metrics compared to franchised locations, and the strategic reasons behind operating some restaurants through affiliates rather than franchising them. This information will provide a clearer picture of the franchise's expansion plans and the potential opportunities and challenges for franchisees.