What is the total number of Chem Dry franchises represented in the financial performance representation?
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 706 Chem-Dry business franchises. These franchises are referred to as the "Responding Franchises." The data is based on information from 246 franchise owners, called the "Responding Franchise Owners", who collectively own these 706 franchises.
The financial data presented covers the period from January 1, 2023, to December 31, 2023, and includes only those franchises that were in operation for at least one year as of January 1, 2023, and operated throughout the entire year. Chem-Dry specifically excluded data from franchisees who earned less than $75,000 per year due to operating on a part-time or semi-retired basis to ensure the data reflects full-time Chem-Dry businesses.
It's important to note that the financial figures reported have not been audited or independently verified. The data is derived from Chem-Dry's Customer Management Software, which has been mandatory for new franchisees since 2013. Franchisees operating under agreements signed before 2013 could elect to use the software but were not required to do so. Prospective franchisees should also consider that a number of factors can impact a franchise owner's revenue, such as operational capability, pricing decisions, market competition, and the ability to sell ancillary products and higher-margin services.