How many Cinch I.T. outlets were operating in Utah at the end of 2023?
Cinch_I_T Franchise · 2024 FDDAnswer from 2024 FDD Document
| State | Year | Number of Transfers | |---|---|---| | MA | 2021 | 0 | | | 2022 | 0 | | | 2023 | 1 | | | | | | Totals | 2021 | 0 | | | 2022 | 0 | | | 2023 | 1 | | | | | Table No. 3
STATUS OF FRANCHISE OUTLETS FOR YEARS 2021 TO 2023
| Col. 1 State | Col. 2 Year | Col. 3 Outlets at Start of Year | Col. 4 Outlets Opened | Col. 5 Terminations | Col. 6 Non- Renewals | Col. 7 Reacquired By Franchisor | Col. 8 Ceased Operations – Other Reasons | Col.
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 was one outlet operating in Utah at the end of 2023. The table provided in Item 20 outlines the status of franchise outlets from 2021 to 2023, showing the changes in outlet numbers for each state.
Specifically, for Utah, the table indicates that at the start of 2023, there was one outlet. Throughout 2023, no additional outlets were opened, and there were no terminations, non-renewals, re acquisitions by the franchisor, or other reasons for ceased operations. Consequently, the number of outlets at the end of 2023 remained at one.
This information is valuable for prospective franchisees as it provides a clear picture of Cinch I.T.'s presence and stability in Utah. The fact that the number of outlets remained constant suggests a stable market, although further investigation into the performance of that single outlet would be prudent. A potential franchisee might want to explore the reasons behind the lack of growth in Utah during 2023 to better understand the market dynamics and potential opportunities or challenges.