What was the total number of Chocolate Fish Coffee outlets opened during 2021?
Chocolate_Fish_Coffee Franchise · 2024 FDDAnswer from 2024 FDD Document
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 | 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 | | | | | | 2023 | 3 | 0 | 0 | 0 | 0 | 3 | Table 5 Projected Openings As Of December 31, 2023
| State | Column 2 | Column 3 | Projected New Company- Owned Outlets in the Next Fiscal Yea
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 is conflicting information regarding the number of outlets opened in 2021. One table indicates that for California, zero outlets were opened in 2021. Another table shows that zero franchised outlets were opened in 2021. However, a third table indicates that for company-owned stores, the number of outlets at the start of the year was 3, and the number of outlets at the end of the year was 3, implying that no company-owned stores opened during 2021. Finally, the table summarizing total outlets indicates that the number of outlets at the start of 2021 was 2, and the number at the end of the year was 3, with a net change of +1.
These discrepancies could be due to different reporting methods for franchise versus company-owned stores, or errors in the FDD. It is important to note that the tables provide data specifically for California, franchised outlets, company-owned outlets, and total outlets, which may not give a complete picture of the entire Chocolate Fish Coffee system.
A prospective franchisee should seek clarification from Chocolate Fish Coffee regarding these inconsistencies to understand the actual number of outlets opened in 2021 and the overall growth trends of the franchise. Understanding the nuances between franchised and company-owned store openings is also crucial for assessing the franchise's expansion strategy and potential market penetration.