What was the net change in the number of franchised Closet Storage Concepts outlets during 2022?
Closet_Storage_Concepts Franchise · 2025 FDDAnswer from 2025 FDD Document
| OOuutltelet t TTyyppee | YYeeaar r | OOuutlteletsts aatt tthhee | OOuutlteletsts aatt tthhee EEnndd | NNeet t CChhaanngge e |
|---|---|---|---|---|
| SSttaartr t ooff tthhee YYeeara r | ooff tthhee YYeeaar r | |||
| FFRRAANNCCHHISISEEDD | 22002222 | 99 | 88 | --11 |
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, the net change in the number of franchised outlets during the fiscal year 2022 was -1. At the start of 2022, there were 9 franchised outlets, and by the end of the year, there were 8. This indicates that one franchised location ceased operating during that year.
For a potential franchisee, this information highlights the importance of understanding the factors that contribute to the success and failure of existing Closet Storage Concepts franchises. While a single outlet closing may not be alarming, it prompts further investigation into the reasons behind the closure.
It would be prudent for a prospective franchisee to discuss with Closet Storage Concepts the reasons for this net decrease, the performance of existing franchises, and the support provided to franchisees to ensure their long-term viability. Understanding these factors can help a new franchisee assess the risks and opportunities associated with investing in a Closet Storage Concepts franchise.