How many Crab N Spice outlets were closed across all locations in 2021?
Crab_N_Spice Franchise · 2024 FDDAnswer from 2024 FDD Document
| State | Year | Outlets at the Start of the Year | Outlets Opened | Termi- Nations | Non- Renewals | Reacquired by Franchisor | Column 8 | Outlets at End of the Year |
|---|---|---|---|---|---|---|---|---|
| Ceased Operations – Other Reasons | ||||||||
| Arizona | 2021 | 1 | 0 | 0 | 0 | 0 | 0 | 1 |
| 2022 | 1 | 0 | 0 | 0 | 1 | 0 | 0 | |
| 2023 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| California | 2021 | 1 | 1 | 0 | 0 | 0 | 0 | 2 |
| 2022 | 2 | 0 | 0 | 0 | 0 | 0 | 2 | |
| 2023 | 2 | 0 | 0 | 0 | 0 | 0 | 2 | |
| Nevada | 2021 | 0 | 2 | 0 | 0 | 0 | 0 | 2 |
| 2022 | 2 | 1 | 1 | 0 | 0 | 0 | 2 | |
| 2023 | 2 | 0 | 0 | 0 | 0 | 0 | 2 | |
| Totals | 2021 | 2 | 3 | 0 | 0 | 0 | 0 | 5 |
| 2022 | 5 | 1 | 1 | 0 | 1 | 0 | 4 | |
| 2023 | 4 | 0 | 0 | 0 | 0 | 0 | 4 |
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 no terminations, non-renewals or re acquisitions by the franchisor in 2021. The data shows that across all locations (Arizona, California and Nevada), zero Crab N Spice outlets were closed in 2021. This is based on the table summarizing outlet changes from 2021 to 2023.
Specifically, for 2021, the table indicates that there were 2 franchised outlets at the start of the year and 5 at the end of the year, resulting in a net change of +3. There were 3 company-owned outlets at the start of 2021 and 3 at the end of the year, with a net change of 0. Overall, the total number of Crab N Spice outlets increased from 5 to 8 in 2021.
This information is valuable for potential franchisees as it provides insight into the stability and growth of the Crab N Spice franchise system. A history of stable or increasing outlet numbers can be seen as a positive indicator, while a high number of closures could raise concerns about the franchise's viability. It's important to note that this data only reflects the information up to 2023, and prospective franchisees should inquire about more recent data and the reasons behind any outlet closures to gain a comprehensive understanding of the franchise's performance.