What company did Closet Storage Concepts acquire assets from on October 31, 2013?
Closet_Storage_Concepts Franchise · 2025 FDDAnswer from 2025 FDD Document
On October 31, 2013, we acquired a substantial portion of the assets of More Space Place, Inc., a Michigan corporation. More Space Place, Inc. was formed in 2002 for the purpose of owning retail outlets and selling More Space Place franchises. It operated from its headquarters located at 5040 140th Avenue North, Clearwater, Florida, 33760.
More Space Place, Inc. operated two franchised businesses similar to the More Space Place business that we franchise. It operated a location in Palm Harbor, FL from August 1999-July 2013 and a location in Pinellas Park, FL from September 1997-July 2013. It never engaged in any other business activity nor offered franchises in any other lines of business.
Source: Item 1 — THE FRANCHISOR, AND ANY PARENTS, PREDECESSORS AND AFFILIATES (FDD pages 9–11)
What This Means (2025 FDD)
According to Closet Storage Concepts's 2025 Franchise Disclosure Document, on October 31, 2013, Closet Storage Concepts acquired a substantial portion of the assets of More Space Place, Inc., a Michigan corporation. More Space Place, Inc. was formed in 2002 for the purpose of owning retail outlets and selling More Space Place franchises. Its headquarters were located at 5040 140th Avenue North, Clearwater, Florida, 33760.
More Space Place, Inc. operated two franchised businesses similar to the More Space Place business that Closet Storage Concepts franchises. Specifically, it operated a location in Palm Harbor, FL from August 1999-July 2013 and a location in Pinellas Park, FL from September 1997-July 2013. More Space Place, Inc. never engaged in any other business activity nor offered franchises in any other lines of business.
This acquisition indicates that Closet Storage Concepts has a history of growth through strategic acquisitions. It also suggests that Closet Storage Concepts is involved in the More Space Place franchise system, in addition to Closet & Storage Concepts. This may provide franchisees with a broader range of products and services to offer customers.