What was the net change in the number of Crave total outlets during the year 2024?
Crave Franchise · 2025 FDDAnswer from 2025 FDD Document
| Outlet Type | Year | Outlets at the Start of the Year | Outlets at the End of the Year | Net Change |
|---|---|---|---|---|
| Franchised | 2022 | 14 | 17 | +3 |
| 2023 | 17 | 24 | +7 | |
| 2024 | 24 | 22 | -2 | |
| Company | 2022 | 0 | 0 | 0 |
| Owned* | 2023 | 0 | 0 | 0 |
| 2024 | 0 | 0 | 0 | |
| Total Outlets | 2022 | 14 | 17 | +3 |
| 2023 | 17 | 24 | +7 | |
| 2024 | 24 | 22 | -2 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 57–62)
What This Means (2025 FDD)
According to Crave's 2025 Franchise Disclosure Document, the net change in the number of total outlets during 2024 was a decrease of 2 locations. At the start of 2024, Crave had 24 total outlets, which decreased to 22 by the end of the year. This indicates that the number of closures and/or reacquired franchises exceeded the number of new openings during that period.
For a prospective franchisee, this information is crucial for assessing the stability and growth trajectory of the Crave franchise system. A decline in the total number of outlets could signal potential challenges within the franchise, such as difficulties in maintaining profitability, franchisee turnover, or market saturation. It is important to note that while the total outlets decreased, the number of company-owned stores remained at zero.
It would be prudent for a potential franchisee to investigate the reasons behind this net decrease. Understanding whether the closures were concentrated in specific regions, related to particular store formats, or due to broader economic factors can provide valuable insights. Additionally, examining the performance of existing Crave locations and the support provided by the franchisor can help in evaluating the overall health and potential of the franchise opportunity.