How many franchised Crab N Spice outlets were operating at the start of 2021?
Crab_N_Spice Franchise · 2024 FDDAnswer from 2024 FDD Document
| Outlet Type | Year | Column 3 | Column 4 | Net Change |
|---|---|---|---|---|
| Outlets at the Start of the Year | Outlets at the End of the Year | |||
| Franchised | 2021 | 2 | 5 | +3 |
| 2022 | 5 | 4 | -1 | |
| 2023 | 4 | 4 | 0 | |
| Company-Owned | 2021 | 3 | 3 | 0 |
| 2022 | 3 | 4 | +1 | |
| 2023 | 4 | 4 | 0 | |
| Total Outlets | 2021 | 5 | 8 | +3 |
| 2022 | 8 | 8 | 0 | |
| 2023 | 8 | 8 | 0 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 36–40)
What This Means (2024 FDD)
According to Crab N Spice's 2024 Franchise Disclosure Document, there were 2 franchised outlets operating at the start of 2021. This is based on the systemwide outlet summary provided in Table 1, which details the status of franchised outlets from 2021 to 2023. The table specifically breaks down the number of franchised outlets at the beginning of each year.
Specifically, the data reveals that these 2 franchised locations were in the states of Arizona and California. Arizona had 1 franchised location at the start of 2021, while California also had 1. By the end of 2021, Crab N Spice had a total of 5 franchised locations, with new locations opening in California and Nevada.
This information is crucial for potential franchisees as it provides a historical overview of the franchise's growth and presence in different states. Reviewing these figures allows prospective franchisees to assess the brand's expansion trajectory and stability over the past few years. Understanding the number of existing outlets can also help in evaluating market saturation and potential opportunities for new locations.