What was the net change in the number of company-owned Cool Binz outlets between the start and end of 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, Cool Binz started 2023 with 1 company-owned outlet and ended the year with 3 company-owned outlets. This indicates a growth in company-operated locations during that period.
Breaking down the changes by state, Cool Binz maintained one company-owned outlet in Florida throughout 2023. However, in Michigan, Cool Binz opened two new company-owned outlets during 2023, increasing the total from zero to two. This expansion in Michigan accounts for the overall net increase in company-owned locations.
For a prospective franchisee, this information provides insight into Cool Binz's corporate growth strategy. The increase in company-owned stores could signal a healthy and expanding business model. However, it's important to note that the FDD also indicates that Cool Binz projects zero new company-owned outlets in the next fiscal year, while projecting twenty new franchised outlets. This may indicate a strategic shift towards franchise growth rather than corporate expansion.