For the Chem Dry financial performance representation, how many Responding Franchises were there?
Chem_Dry Franchise · 2024 FDDAnswer from 2024 FDD Document
elect to use the Customer Management Software but were not required by their franchise agreements to do so.
In January 2024, CDI produced a report on all franchisees currently using our Customer Management Software regarding certain financial and other information relating to the operation of their Chem-Dry business franchises during 2023. Some franchise owners operate their Chem-Dry businesses on a parttime basis or are semi-retired, and those operating businesses are different than the full time Chem-Dry business franchise being offered. To compare the existing Chem-Dry franchised business to the franchise offered accurately, CDI removed data from the report on franchisees who earned less than $75,000 per year based on their own decisions to operate on a part-time or semi-retired basis. Of the
remaining franchisees using our Customer Management Software, CDI received 2023 financial information from 246 franchise owners (the "Responding Franchise Owners"), who collectively own 706 Chem-Dry business franchises (the "Responding Franchises"), and who have operated their
Source: Item 19 — FINANCIAL PERFORMANCE REPRESENTATIONS (FDD pages 55–59)
What This Means (2024 FDD)
According to Chem Dry's 2024 Franchise Disclosure Document, the financial performance representation includes data from a group of franchisees referred to as the "Responding Franchises".
Specifically, the Item 19 financial performance representation is based on data from 706 Chem-Dry business franchises. These franchises are collectively owned by 246 franchise owners, who are referred to as the "Responding Franchise Owners".
To be included in this financial performance representation, Chem Dry required that the franchise owners use their Customer Management Software and that the franchises had operated for at least one year as of January 1, 2023, and throughout all of 2023. Additionally, data from franchisees earning less than $75,000 per year was removed to accurately compare the existing Chem-Dry franchised business to the full-time franchise being offered.