How many Chem Dry franchises in Minnesota were ceased operating for other reasons during 2021?
Chem_Dry Franchise · 2024 FDDAnswer from 2024 FDD Document
TOTALS | 2021 | 34 | | | 2022 | 52 | | | 2023 | 38 | TABLE 3 STATUS OF FRANCHISED OUTLETS FOR YEARS – 2021 – 2023
| State | Year | Outlets at Start of Year | Outlets Opened | Termi nations | Non Renewals | Re acquired by Franchisor | Ceased Operations Other Reasons | Outlets at End of the Year |
|---|---|---|---|---|---|---|---|---|
| Alabama | 2021 | 32 | 0 | 1 | 0 | 0 | 0 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION TABLE 1 SYSTEMWIDE OUTLET SUMMARY FOR YEARS – 2021 – 2023 (FDD pages 59–68)
What This Means (2024 FDD)
According to Chem Dry's 2024 Franchise Disclosure Document, in 2021, zero franchises in Minnesota ceased operations for reasons other than terminations, non-renewals, or reacquisition by the franchisor. This figure is part of a broader table summarizing outlet activity across all states for the years 2021-2023.
This data point is important for potential Chem Dry franchisees in Minnesota as it provides insight into the stability and performance of existing franchises in the state. A low number of closures for 'other reasons' could indicate a healthy franchise environment, while a high number might warrant further investigation into the specific challenges faced by franchisees in that region.
It is worth noting that 'other reasons' for ceasing operations can encompass a variety of factors, such as franchisee retirement, relocation, or failure to meet performance standards. While the FDD provides this specific number, prospective franchisees should still engage in thorough due diligence, including speaking with current and former franchisees, to gain a comprehensive understanding of the factors influencing franchise success in Minnesota.