What was the net change in the number of Chem Dry outlets in New Jersey 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 |
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 there were 40 Chem Dry outlets in New Jersey. By 2023, the number of outlets decreased to 24. This represents a net decrease of 16 outlets over the two-year period.
Specifically, the table provided in Item 20 of the FDD details the changes in outlet numbers for each state over the period of 2021-2023. For New Jersey, the number of outlets started at 35 in 2021, increased by 5, and ended the year at 40. In 2022, the number of outlets started at 40, increased by 2, had 14 reacquired, and ended the year at 28. In 2023, the number of outlets started at 28, increased by 1, had 2 closed, and had 2 sold to franchisees, ending the year at 24.
For a prospective franchisee, this decrease in Chem Dry outlets in New Jersey could signal a contracting market or increased competition. It may be prudent to investigate the reasons behind the closures and transfers, and to assess the current market conditions in New Jersey before investing in a Chem Dry franchise.