What is the 2024 Quartile Reporting Period for City Wide franchisees?
City_Wide Franchise · 2025 FDDAnswer from 2025 FDD Document
- (1) As of December 31, 2024, CITY WIDE had 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. The results of the remaining CITY WIDE franchisee did not satisfy one or more of the Quartile Reporting Criteria. All CITY WIDE franchisees that satisfied the Quartile Reporting Criteria are included in this table.
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 2024 Quartile Reporting Period is defined as the full 12-month period ending December 31, 2024. To be included in the 2024 Quartile Reporting Criteria, City Wide franchisees must have been operating under a standard Franchise Agreement, open and operating for at least a full 12-month period by December 31, 2024, submitted the required Royalty Fee reports, and operated continuously between January 1, 2024, and December 31, 2024.
Of the 98 City Wide franchisees operating as of December 31, 2024, 93 met the 2024 Quartile Reporting Criteria. The FDD also notes that within this group, 85 franchisees had been operating for at least 24 months, 69 for at least 36 months, 66 for at least 48 months, and 60 for at least 60 months during the 2024 Quartile Reporting Period. The financial performance data for these franchisees is organized into quartiles based on gross sales, providing prospective franchisees with insights into different performance levels within the City Wide system.
This information is valuable for potential City Wide franchisees as it provides a specific timeframe used for evaluating financial performance. Understanding the criteria and the reporting period helps in assessing the financial performance representations provided in Item 19 of the FDD. It is important to note that the financial data presented is based on reports submitted by franchisees and has not been independently audited by City Wide. Prospective franchisees should consider this when reviewing the financial performance data and are encouraged to conduct their own due diligence, including requesting substantiation for the financial performance representation and contacting current or former franchisees.