What is the total number of Chocolate Fish Coffee outlets opened and closed in 2023?
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
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 outlets opened or closed in 2023. The FDD provides a system-wide outlet summary for 2021 to 2023. In 2023, there were 3 company-owned outlets at the start of the year and 3 at the end of the year, indicating no net change.
Specifically, for California, the data shows that there were 3 outlets at the start of 2023, with 0 outlets opened, 0 reacquired from franchisees, and 0 outlets closed, resulting in 3 outlets at the end of the year. For non-specified locations, there were 0 outlets at the start of 2023, with 0 outlets opened, and 0 terminations, non-renewals or re acquisitions by the franchisor, resulting in 0 outlets at the end of the year.
This information is crucial for potential franchisees as it provides insight into the stability and growth of Chocolate Fish Coffee. A lack of outlet openings could suggest a period of consolidation or a cautious approach to expansion. The absence of closures is generally a positive sign, indicating that existing locations are sustainable. However, prospective franchisees should investigate further to understand Chocolate Fish Coffee's growth strategy and future plans for new outlet development.