What was the net change in the number of Chem Dry outlets in Maryland between 2021 and 2023?
Chem_Dry Franchise · 2024 FDDAnswer from 2024 FDD Document
numbers and reducing District of Columbia numbers.
TABLE 4 STATUS OF COMPANY-OWNED OUTLETS FOR YEARS – 2021 – 2023
| State | Year | Outlets at Start of Year | Outlets Opened | Outlets Reacquired from Franchisee | Outlets Closed | Outlets Sold to Franchisee | Outlets at End of the Year |
|---|---|---|---|---|---|---|---|
| Totals | 2021 | 0 | 0 | 0 | 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, the number of Chem Dry outlets in Maryland decreased by 20 between 2021 and 2023. In 2021, there were 54 Chem Dry outlets in Maryland. By 2023, this number had fallen to 34. This represents the net change in the number of outlets over this period.
This decrease in Chem Dry outlets could be due to several factors, such as closures, terminations, or non-renewals of franchise agreements. It is important to note that one Maryland license relocated to Virginia during this period, which would contribute to the decrease in Maryland's outlet count. Additionally, one District of Columbia license relocated to Maryland, increasing the Maryland numbers.
For a prospective franchisee, this information highlights the importance of understanding the dynamics of the Chem Dry franchise network in specific geographic areas. A declining number of outlets could indicate challenges in the market or with the franchise system itself, although further investigation would be needed to determine the exact reasons for the decrease. It would be prudent to inquire with Chem Dry about the reasons for this decline and the overall health of the Maryland market.
It is also important to consider that the numbers reported in the FDD reflect the situation as of December 31, 2023, and the situation may have changed since then. Therefore, it is crucial to obtain the most up-to-date information from Chem Dry before making any investment decisions.