What was the net change in the total number of Closet Storage Concepts outlets during 2024?
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 |
| 22002233 | 88 | 88 | 00 | |
| 22002244 | 88 | 77 | --11 | |
| COMPANY- | 22002222 | 33 | 44 | ++11 |
| COMPANY- | ||||
| OWNED | ||||
| OWNED | ||||
| 22002233 | 44 | 44 | 00 | |
| 22002244 | 44 | 44 | 00 | |
| TOTAL | 22002222 | 1122 | 1122 | 00 |
| TOTAL | ||||
| OUTLETS | ||||
| OUTLETS | ||||
| 22002233 | 1122 | 1122 | 00 | |
| 22002244 | 1122 | 1111 | --11 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 55–59)
What This Means (2025 FDD)
According to Closet Storage Concepts's 2025 Franchise Disclosure Document, the net change in the total number of outlets in 2024 was -1. This means that the total number of Closet Storage Concepts outlets decreased by one during that year. At the start of 2024, there were 12 outlets, and by the end of the year, the total number of outlets was 11.
Specifically, the number of franchised outlets decreased by one, from 8 to 7, while the number of company-owned outlets remained constant at 4. This indicates that one franchised location closed or otherwise ceased operating during 2024.
A prospective franchisee should investigate the reasons behind the net decrease in franchised outlets. Understanding why an outlet closed can provide valuable insights into potential challenges and risks associated with operating a Closet Storage Concepts franchise.