How many Closet Storage Concepts outlets in New Jersey were at the end of 2024?
Closet_Storage_Concepts Franchise · 2025 FDDAnswer from 2025 FDD Document
| State | Year | Outlets at Start of Fiscal Year | Outlets Opened | Terminations | Non Renewals | Reacquired by Franchisor | Ceased Operations -Other Reasons | Outlets At End Of the Year |
|---|---|---|---|---|---|---|---|---|
| NEW JERSEY | 2022 | 2 | 0 | 0 | 0 | 0 | 0 | 2 |
| 2023 | 2 | 0 | 0 | 0 | 0 | 0 | 2 | |
| 2024 | 2 | 0 | 0 | 0 | 0 | 0 | 2 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 55–59)
What This Means (2025 FDD)
According to Closet Storage Concepts' 2025 Franchise Disclosure Document, there were 2 outlets in New Jersey at the end of 2024. The provided table in Item 20 outlines the outlet summary for fiscal years 2022, 2023, and 2024. It details the number of outlets at the start of the fiscal year, outlets opened, terminations, non-renewals, re acquisitions by the franchisor, ceased operations for other reasons, and the number of outlets at the end of the year.
For a prospective franchisee, this information is crucial in understanding the stability and growth of Closet Storage Concepts in New Jersey. The fact that no outlets opened, terminated, or ceased operations in the past three years suggests a stable market presence. This can be seen as a positive indicator, reflecting consistent performance and potentially lower risk for new franchisees in the area.
However, it's important to note that no growth also means no new market penetration. A potential franchisee should investigate the reasons behind the lack of expansion and whether there are opportunities for growth that have not yet been explored. Further due diligence, including market research and discussions with existing franchisees, would be beneficial to assess the growth potential and competitive landscape in New Jersey.