How many company-owned Crown Gold Exchange outlets were sold to franchisees in 2023?
Crown_Gold_Exchange Franchise · 2024 FDDAnswer from 2024 FDD Document
| State | Year | Column 3 | Outlets Opened | Column 5 | Outlets Closed | Outlets Sold to Franchisee | Outlets at End of the Year |
|---|---|---|---|---|---|---|---|
| Outlets at | Outlets | ||||||
| the Start | Reacquired | ||||||
| of the | from | ||||||
| Year | Franchisee | ||||||
| California | 2021 | 7 | 0 | 0 | 0 | 0 | 7 |
| 2022 | 7 | 0 | 0 | 0 | 0 | 7 | |
| 2023 | 7 | 0 | 0 | 0 | 0 | 7 | |
| Totals | 2021 | 7 | 0 | 0 | 0 | 0 | 7 |
| 2022 | 7 | 0 | 0 | 0 | 0 | 7 | |
| 2023 | 7 | 0 | 0 | 0 | 0 | 7 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 35–38)
What This Means (2024 FDD)
According to the 2024 Franchise Disclosure Document, Crown Gold Exchange did not sell any company-owned outlets to franchisees in 2023. The provided table regarding the status of outlets in California from 2021 to 2023 indicates that the number of company-owned outlets remained constant at 7.
Specifically, the table shows that in 2023, there were 7 company-owned Crown Gold Exchange outlets at the start of the year and 7 at the end of the year. The columns for 'Outlets Opened,' 'Outlets Reacquired from Franchisee,' and 'Outlets Sold to Franchisee' all show a value of 0 for 2023. This confirms that no company-owned outlets were sold to franchisees during that year.
This information is valuable for potential franchisees as it provides insight into the company's strategy regarding company-owned stores. The fact that no company-owned stores were sold could indicate a preference for maintaining company control over these locations, or it could simply reflect a lack of opportunity or strategic need to transfer ownership in 2023.