What was the total number of Crab N Spice outlets 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, at the start of 2021, there were a total of 5 Crab N Spice outlets. This total includes both franchised and company-owned locations. Specifically, there were 2 franchised outlets and 3 company-owned outlets at the beginning of 2021.
By the end of 2021, the total number of Crab N Spice outlets increased to 8. This increase is attributed to the opening of 3 new franchised locations, while the number of company-owned outlets remained constant. This indicates a growth in the franchise system during that year.
For a prospective franchisee, this data provides insight into the initial size and growth trajectory of the Crab N Spice system. The increase in franchised locations suggests a positive trend in franchise expansion. Reviewing the growth patterns over the subsequent years, 2022 and 2023, shows a leveling off of outlet numbers, which may warrant further investigation into the factors influencing this stabilization.