What is the 2023 Quartile Reporting Period for City Wide franchisees?
City_Wide Franchise · 2025 FDDAnswer from 2025 FDD Document
ad 98 CITY WIDE franchisees operating in the CITY WIDE System (including three franchised outlets owned by CITY WIDE's principals). Of the total number of CITY WIDE franchisees operating, 93 CITY WIDE franchisees met all of the following criteria ("2024 Quartile Reporting Criteria"): each CITY WIDE franchise was operated under a standard Franchise Agreement, had been open and operating for at least one full 12-month period by December 31, 2024 ("2024 Quartile Reporting Period"), had submitted required Royalty Fee reports, and had operated continuously during the period between January 1, 2024, and December 31, 2024. In addition, during the 2024 Quartile Reporting Period, CITY WIDE had 85 CITY WIDE franchisees that had been operating at least 24 full months, 69 CITY WIDE franchisees that had been operating at least 36 full months, 66 CITY WIDE franchisees that had been operating at least 48 months, and 60 CITY WIDE franchises that had been operating at least 60 months.
Source: Item 19 — FINANCIAL PERFORMANCE REPRESENTATIONS (FDD pages 48–58)
What This Means (2025 FDD)
According to City Wide's 2025 Franchise Disclosure Document, the 2023 Quartile Reporting Period is defined as the full 12-month period ending on December 31, 2023. To be included in the quartile reporting, a City Wide franchisee must have been operating under a standard Franchise Agreement, have been open for at least one full year by the end of 2023, have submitted all required royalty fee reports, and have operated continuously from January 1, 2023, to December 31, 2023.
City Wide had 98 franchisees operating in the system as of December 31, 2023. Of these, 85 franchisees met the criteria for the 2023 Quartile Reporting Period. The remaining franchisees did not meet one or more of the requirements. The financial performance data from these 85 franchisees was then used to create quartiles based on gross sales, with each quartile representing a segment of the franchise system's performance.
This information is important for potential franchisees as it provides insight into the criteria used to evaluate franchisee performance and the basis for the financial performance representations made by City Wide. Understanding these criteria helps prospective franchisees assess the relevance and reliability of the financial data presented in Item 19 of the FDD.