How many Chocolate Fish Coffee outlets were closed in 2023?
Chocolate_Fish_Coffee Franchise · 2024 FDDAnswer from 2024 FDD Document
23 | 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 | | | | | | | | | | Reasons | | | N/A | 2021 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | | 2022 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | | 2023 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | Totals | 2021 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | | 2022 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | | 2023 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Table 4 Status of Company-Owned Outlets For Years 2021 to 2023
| State | Year | Column 3 | Outlets Opened | Column 5 | Outlets Closed | Outlets Sold to Franchisee | Outlets at End of the Year | |---|---|---|---|---|---|---|---| | | | Outlets at | | Outlets | | | | | | | the Start | | Reacquired | | | | | | | of the | | from | | | | | | | Year | | Franchisee | | | | | California | 2021 | 3 | 0 | 0 | 0 | 0 | 3 | | | 2022 | 3 | 0 | 0 | 0 | 0 | 3 | | | 2023 | 3 | 0 | 0 | 0 | 0 | 3 | | Totals | 2021 | 3 | 0 | 0 | 0 | 0 | 3 | | | 2022 | 3 | 0 | 0 | 0 | 0 | 3 |
| State | Year | Column 3 | Outlets Opened | Colum
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 no franchised or company-owned outlets closed in 2023. Table 3, "Status of Franchised Outlets For Years 2021 to 2023," shows that zero franchised outlets were closed in California during 2023. Similarly, Table 4, "Status of Company-Owned Outlets For Years 2021 to 2023," indicates that zero company-owned outlets ceased operations for any reason during the same year.
This information is crucial for potential franchisees as it provides insight into the stability and performance of existing Chocolate Fish Coffee locations. A history of outlet closures could signal potential issues with the franchise model or market conditions. The absence of closures in 2023 may be interpreted positively, suggesting a healthy and sustainable franchise system.
However, it is important to consider this data in conjunction with other factors, such as the number of new outlets opened and the overall financial performance of Chocolate Fish Coffee franchises. A more comprehensive understanding of the franchise's health requires analyzing trends over several years and comparing them to industry benchmarks. Prospective franchisees should also inquire about the reasons for any past closures, if any, to assess the potential risks and challenges associated with owning a Chocolate Fish Coffee franchise.
While the FDD provides data on outlet closures, it is also important for potential franchisees to conduct their own due diligence. This includes speaking with current and former franchisees to gather firsthand accounts of their experiences and challenges. Additionally, prospective franchisees should carefully review the franchise agreement and seek professional advice from an attorney or financial advisor to fully understand their rights and obligations.