How many franchised Chocolate Fish Coffee outlets were open at the start of 2021?
Chocolate_Fish_Coffee Franchise · 2024 FDDAnswer from 2024 FDD Document
| Outlet Type | Year | Outlets at the Start of the Year | Column 4 | Net Change |
|---|---|---|---|---|
| Outlets at the End of the Year | ||||
| Franchised | 2021 | 0 | 0 | 0 |
| 2022 | 0 | 0 | 0 | |
| 2023 | 0 | 0 | 0 | |
| Company-Owned | 2021 | 3 | 3 | 0 |
| 2022 | 3 | 3 | 0 | |
| 2023 | 3 | 3 | 0 | |
| Total Outlets | 2021 | 2 | 3 | +1 |
| 2022 | 3 | 3 | 0 | |
| 2023 | 3 | 3 | 0 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 38–41)
What This Means (2024 FDD)
According to Chocolate Fish Coffee's 2024 Franchise Disclosure Document, there were zero franchised outlets open at the start of 2021. The provided table outlines the systemwide outlet summary for the years 2021 to 2023. For franchised outlets, the 'Outlets at the Start of the Year' column shows a consistent '0' for each year, including 2021. This indicates that Chocolate Fish Coffee had not yet begun franchising as of the beginning of 2021.
This information is crucial for potential franchisees as it provides insight into the franchise's growth and development. The fact that there were no franchised locations open at the start of 2021 suggests that Chocolate Fish Coffee's franchising program is relatively new.
Instead, the table shows that Chocolate Fish Coffee had 3 company-owned outlets at the start of 2021. By the end of 2021, the total number of outlets was 3, with no net change in company-owned stores and zero franchised locations. This indicates that the company relied solely on company-owned stores during that period.
Prospective franchisees should consider this information when evaluating the franchise opportunity. While a newer franchise system can present opportunities for growth and development, it also carries inherent risks associated with limited operating history. It would be prudent to further investigate Chocolate Fish Coffee's franchising strategy, growth plans, and support systems for new franchisees to assess the potential risks and rewards.