How many Crown Gold Exchange outlets ceased operations for other reasons during 2022?
Crown_Gold_Exchange Franchise · 2024 FDDAnswer from 2024 FDD Document
| 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 | 0 | 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 zero outlets that ceased operations for other reasons during 2022. The provided table tracks outlet data from 2021 to 2023. For 2022, the table indicates zero terminations, non-renewals, re acquisitions by the franchisor, or cessation of operations for other reasons. The total number of outlets at the end of 2022 remained consistent with the start of the year.
This data point is crucial for prospective franchisees as it offers insights into the stability and sustainability of Crown Gold Exchange outlets. A high number of closures for 'other reasons' might indicate underlying issues with the franchise model, market conditions, or franchisor support. The absence of such closures in 2022 suggests a stable franchise network, at least during that specific year.
It's important to note that this information is limited to a single year and doesn't provide a comprehensive historical trend. A prospective franchisee should investigate further by examining previous FDDs or speaking with current and former franchisees to understand long-term closure rates and the reasons behind them. This due diligence will provide a more complete picture of the risks and opportunities associated with investing in a Crown Gold Exchange franchise.