In 2023, how many Crown Gold Exchange franchised outlets were terminated?
Crown_Gold_Exchange Franchise · 2024 FDDAnswer from 2024 FDD Document
Table 3 Status of Franchised Outlets For Years 2021 to 2023*
| 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 | ||||||||
| N/A | 2021 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 2022 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 2023 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Totals | 2021 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 2022 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 2023 | 0 | 0 | 0 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 35–38)
What This Means (2024 FDD)
According to Crown Gold Exchange's 2024 Franchise Disclosure Document, there were no terminations of franchised outlets in 2023. The provided table in Item 20 details the status of franchised outlets, showing zero terminations for the year. This suggests a stable franchise system, at least in terms of franchise agreement terminations during that specific year.
Specifically, the table tracks terminations, non-renewals, re acquisitions by the franchisor, and outlets that ceased operations for other reasons. All these categories show zero instances for franchised outlets in 2023. This could be a positive indicator for potential franchisees, suggesting that existing franchisees are generally continuing their operations under the Crown Gold Exchange brand.
It is important to note that this data only reflects terminations and other specific categories listed in the table. It does not provide a complete picture of franchisee performance or satisfaction. A prospective franchisee should still conduct thorough due diligence, including speaking with current and former franchisees, to gain a comprehensive understanding of the Crown Gold Exchange franchise system.