What are the implications of the data presented in the Crave Cookies table?

According to Crave Cookies' 2025 Franchise Disclosure Document, Item 20 provides several tables outlining the status of outlets and franchisees. These tables include a system-wide outlet summary, the status of franchised outlets, the status of company-owned outlets, and transfers of outlets from franchisees to new owners, all covering the years 2021 to 2024. Additionally, there is a table projecting openings as of December 31, 2025.

For a prospective franchisee, this historical data is crucial for understanding the growth, stability, and turnover within the Crave Cookies franchise system. Analyzing the system-wide outlet summary helps gauge the overall expansion and contraction trends. The status of franchised outlets indicates how existing franchisees are performing, including closures, terminations, and non-renewals, which can be a reflection of the franchise's support system and profitability. The table on company-owned outlets can provide insights into the franchisor's direct involvement and success in operating outlets.

Furthermore, the transfers of outlets to new owners can signal the resale value and demand for Crave Cookies franchises. The projected openings table offers a glimpse into the franchisor's expectations for future growth, which may influence a franchisee's decision to invest. Reviewing these tables collectively allows potential franchisees to assess the risks and opportunities associated with investing in a Crave Cookies franchise and to ask more informed questions during their due diligence process.