What was the net change in the total number of Crab N Spice outlets during 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, the total net change in the number of outlets during 2021 was an increase of 3. This was calculated from 5 outlets at the start of the year and 8 outlets at the end of the year.
Specifically, the number of franchised Crab N Spice outlets increased by 3, going from 2 at the beginning of 2021 to 5 by the end of the year. The number of company-owned outlets remained the same with 3 at the start and 3 at the end of 2021.
This information is valuable for potential franchisees as it provides a snapshot of the brand's growth and stability during that period. A positive net change suggests expansion and could indicate a healthy franchise system. However, it is important to consider these figures in the context of overall trends and consult with current and former franchisees to gain a more comprehensive understanding.