What was the net change in the number of company-owned Cool Binz outlets during 2023?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
e Outlet Summary For Years 2022 to 2024**
| Outlet Type | Year | Outlets at the Start of the Year | Outlets at the End of the Year | Net Change |
|---|---|---|---|---|
| Franchised | 2022 | 0 | 0 | 0 |
| 2023 | 0 | 0 | 0 | |
| 2024 | 0 | 3 | +3 | |
| Company Owned | 2022 | 1 | 1 | 0 |
| 2023 | 1 | 3 | +2 | |
| 2 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 60–62)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, the net change in the number of company-owned outlets during 2023 was an increase of 2. Specifically, the number of company-owned Cool Binz outlets increased from 1 at the start of 2023 to 3 by the end of the year. This indicates that Cool Binz expanded its company-owned operations during that period.
For a prospective franchisee, this information provides insight into Cool Binz's business model and growth strategy. The fact that Cool Binz operates company-owned outlets alongside franchised locations suggests that the company has confidence in its business model and is willing to invest its own capital. The increase in company-owned stores could also indicate that Cool Binz is testing new markets or refining its operational procedures before offering franchises in those areas.
It's important to note that while the number of company-owned stores increased, the number of franchised outlets remained at zero during 2022 and 2023. This could be interpreted in several ways. Cool Binz may have been focusing on establishing its company-owned operations before expanding through franchising. Alternatively, it could indicate challenges in attracting franchisees or opening franchised locations. A prospective franchisee should inquire about the reasons behind the lack of franchised locations during this period to gain a better understanding of Cool Binz's franchise strategy and potential opportunities.