In what year did Cinch I.T. have one franchise outlet transfer?
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 | |
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 franchise outlet transfer in 2023. The information regarding franchise outlet transfers is provided in Table No. 2, which specifically tracks transfers of outlets from franchisees to new owners, excluding transfers to the franchisor. This data spans from 2021 to 2023.
The table shows that in 2023, there was one transfer in the state of Massachusetts. There were no transfers in 2021 or 2022.
For a prospective franchisee, this information indicates the recent activity in franchise resales within the Cinch I.T. system. A franchise transfer means an existing franchisee sold their business to a new owner. While one transfer in three years may not seem significant, it is important to investigate the reasons behind the transfer to understand the stability and potential challenges within the Cinch I.T. franchise network. Talking to current and former franchisees can provide valuable insights into the transfer process and the overall health of the franchise system.