What was the net change in the number of Chem Dry outlets in Ohio between the beginning and end of 2023?
Chem_Dry Franchise · 2024 FDDAnswer from 2024 FDD Document
| Ohio | 2021 | 40 | 0 | 0 | 1 | 0 | 0 | 39 |
|---|---|---|---|---|---|---|---|---|
| 2022 | 39 | 1 | 5 | 2 | 0 | 3 | 30 | |
| 2023 | 30 | 0 | 7 | 1 | 0 | 0 | 22 |
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 Ohio decreased by 8 locations during 2023. At the beginning of 2023, there were 30 Chem Dry outlets in Ohio. During the year, no outlets were opened, but 1 was reacquired from a franchisee, and 7 closed. At the end of 2023, the total number of Chem Dry locations in Ohio was 22.
For a prospective franchisee, this indicates a shrinking market presence for Chem Dry in Ohio. While one location was reacquired, seven closures suggest potential challenges in maintaining successful franchise operations within the state. This trend could be due to various factors, such as market saturation, local economic conditions, or franchisee performance issues.
It is important for potential franchisees to investigate the reasons behind these closures and the overall decline in Chem Dry locations in Ohio. Understanding the challenges faced by previous franchisees can help in assessing the risks and opportunities associated with investing in a Chem Dry franchise in this specific market. Speaking with current and former franchisees in Ohio would provide valuable insights into the local market dynamics and the support provided by Chem Dry to its franchisees.
Furthermore, the FDD indicates that Chem Dry projects opening one new franchised outlet in Ohio in the next fiscal year. This suggests that Chem Dry is still interested in expanding its presence in Ohio, despite the recent closures. A prospective franchisee should inquire about the specific strategies Chem Dry plans to implement to support new and existing franchisees in Ohio and ensure their long-term success.