What was the net change in the total number of Cinch I.T. outlets during 2023?
Cinch_I_T Franchise · 2024 FDDAnswer from 2024 FDD Document
appropriate state regulatory agencies.
Item 20 OUTLETS AND FRANCHISEE INFORMATION
Table No. 1 SYSTEMWIDE OUTLET SUMMARY FOR YEARS 2021 TO 2023
| 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 | | | | | | |
| Outlet Type | Year | Outlets at the Start of the Year | Outlets at the End of the Year | Net Change | |--
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, the net change in the total number of outlets during 2023 was 0. The total number of Cinch I.T. outlets remained constant throughout the year. There were 11 outlets at the start of 2023 and 11 outlets at the end of 2023.
Breaking this down further, the FDD indicates that the number of franchised outlets also remained constant at 10 for the entire year of 2023. Similarly, the number of company-owned outlets remained at 1.
This data point is important for prospective franchisees as it provides a snapshot of the system's growth and stability. A net change of zero suggests that the Cinch I.T. system was not actively expanding or contracting during that year. While not inherently negative, a prospective franchisee may want to inquire about the reasons for this lack of change and the company's plans for future growth.