How many franchised Cinch I.T. outlets were operating at the end of 2021?
Cinch_I_T Franchise · 2024 FDDAnswer from 2024 FDD Document
| Outlet Type | Year | Outlets at the Start of the Year | Outlets at the End of the Year | Net Change |
|---|---|---|---|---|
| Franchised | 2021 | 5 | 8 | +3 |
| 2022 | 8 | 10 | +2 | |
| 2023 | 10 | 10 | 0 | |
| Company-Owned | 2021 | 1 | 1 | 0 |
| 2022 | 1 | 1 | 0 | |
| 2023 | 1 | 1 | 0 | |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 56–60)
What This Means (2024 FDD)
According to Cinch I.T.'s 2024 Franchise Disclosure Document, there were 8 franchised outlets operating at the end of 2021. The FDD provides a systemwide outlet summary for the years 2021 to 2023. This table includes information on the number of franchised outlets at the start and end of each year, as well as the net change in the number of outlets.
Specifically, for franchised outlets in 2021, the table shows that there were 5 outlets at the start of the year and 8 outlets at the end of the year, representing a net increase of 3 outlets. This indicates that Cinch I.T. experienced growth in its number of franchised locations during that year.
Prospective franchisees can use this information to understand the historical growth and current size of the Cinch I.T. franchise system. Reviewing the trends in outlet numbers over several years can provide insights into the stability and expansion potential of the franchise. It's also important to consider the reasons behind any changes in outlet numbers, such as terminations or non-renewals, to get a comprehensive understanding of the franchise's performance.