How many franchised Chocolate Fish Coffee outlets were operating at the end of 2023?
Chocolate_Fish_Coffee Franchise · 2024 FDDAnswer from 2024 FDD Document
Table 1 Systemwide Outlet Summary For Years 2021 to 2023**
| 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 | Table 2 Transfers of Outlets from Franchisees to New Owners (other than the Franchisor) For Years 2021 to 2023
| State | Column 2 | Number of Transfers | |---|---|---| | | Year | | | N/A | 2021 | 0 |
| State | Year | Number of Transfers | |---|---|---| | | 2022 | 0 | | | 2023 | 0 | | Total | 2021 | 0 | | | 2022 | 0 | | | 2023 | 0 | Table 3 Status of Franchised Outlets For Years 2021 to 2023
| State | Year | Outlets at the Start of the Year | Outlets Opened | Termi- Nations | Non- Renewals | Reacquired by Franchisor | Column 8 | Outlets at End of the Year |
|---|---|---|---|---|---|---|---|---|
| Ceased | ||||||||
| Operations | ||||||||
| – Other | ||||||||
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 operating at the end of 2023. The provided tables detail the status of franchised outlets from 2021 to 2023, showing that the number of franchised outlets remained at zero throughout this period. Specifically, for the year 2023, the tables indicate that the number of franchised outlets at the start of the year was zero, with no outlets opened, terminated, non-renewed, or reacquired by the franchisor, resulting in zero franchised outlets at the end of the year.
This information is crucial for potential franchisees as it provides insight into the current scale of Chocolate Fish Coffee's franchising operations. The absence of existing franchised outlets could mean that the franchise system is relatively new or that the company primarily focuses on company-owned stores. It is also worth noting that while there were no franchised locations, Chocolate Fish Coffee had 3 company-owned stores operating in California during this time.
A prospective franchisee should further investigate the reasons behind the lack of franchised locations. This could involve inquiring about the company's strategic plans for franchising, the support and training provided to franchisees, and the overall viability of the franchise model. Understanding these factors will help a potential franchisee assess the risks and opportunities associated with investing in a Chocolate Fish Coffee franchise.
It's also important to note that while there were no operating franchises, Chocolate Fish Coffee projects opening two new franchised outlets in the next fiscal year, one in Arizona and one in California. This suggests a potential shift in strategy towards expanding the franchise network, which could present an opportunity for early adopters.