During 2023, how many company-owned Chop5 Salad Kitchen outlets were opened?
Chop5_Salad_Kitchen Franchise · 2024 FDDAnswer from 2024 FDD Document
, 1 of which is a Qualifying Restaurant. The table below summarizes the outlet statistics and the number of Qualifying Restaurants:
| Open | Outlets | Statistica | l Changes Dui | ring 2023 | Matarialla | Orralifrina | ||
|---|---|---|---|---|---|---|---|---|
| Outlet Type | Jan 1, 2023 | Dec 31, 2023 | Outlets Opened | Outlets Closed | Materially Different Outlets | Qualifying Outlets | ||
| Franchised | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Company-Owne |
Source: Item 19 — FINANCIAL PERFORMANCE REPRESENTATIONS (FDD pages 45–48)
What This Means (2024 FDD)
According to Chop5 Salad Kitchen's 2024 Franchise Disclosure Document, one company-owned Chop5 Salad Kitchen outlet was opened during 2023. The FDD provides a table summarizing outlet statistics as of December 31, 2023, noting that the number of company-owned restaurants increased from two on January 1, 2023, to three by the end of the year. This indicates that one new company-owned location was opened during that period.
It is important to note that while one company-owned restaurant opened in 2023, the financial performance data in Item 19 excludes this restaurant because it was not open for the entire measuring period (January 1, 2023 to December 31, 2023). The financial performance representation (FPR) only includes data from the company-owned restaurant located in Polaris, Ohio, which opened in 2016, and excludes another company-owned restaurant (the "UCF Restaurant") because it is materially different from the franchised restaurant model.
Prospective franchisees should be aware that the financial performance data presented in Item 19 may not be representative of the performance they could expect at a new Chop5 Salad Kitchen location, especially if that location differs significantly from the qualifying restaurant used in the FPR. The FDD explicitly states that individual results may vary, and there is no assurance that a franchisee will earn as much as the qualifying restaurant. Consulting with advisors to develop independent estimates of revenue and expenses is recommended.