How many company-owned Chop5 Salad Kitchen outlets were opened during 2023?
Chop5_Salad_Kitchen Franchise · 2024 FDDAnswer from 2024 FDD Document
| 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-Owned | 2 | 3 | 1 | 0 | 0 | 1 | 1 | |
| Total | 2 | 3 | 1 | 0 | 0 | 1 | 1 |
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 the measuring period of January 1, 2023, to December 31, 2023. The FDD specifies that on January 1, 2023, there were two company-owned outlets, and by December 31, 2023, this number had increased to three.
Of these three company-owned restaurants, only one was considered a "Qualifying Restaurant" for the purposes of the financial performance representation (FPR). The data from the company-owned restaurant that opened in 2023 was excluded from the FPR because it was not open and operating throughout the entire measuring period.
This information is useful for prospective franchisees as it provides insight into the growth of company-owned Chop5 Salad Kitchen locations and clarifies which locations are used to generate the financial performance data presented in the FDD. Understanding the criteria for a "Qualifying Restaurant" helps franchisees understand the basis for the financial performance representation and what factors might influence their own restaurant's performance.