How many Crown Gold Exchange outlets were sold to franchisees in total during 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 Crown Gold Exchange's 2024 Franchise Disclosure Document, there were zero outlets sold to franchisees during 2023. The provided table in Item 20 regarding outlets and franchisee information indicates that under the column "Outlets Sold to Franchisee" the value is 0 for the year 2023. This means that Crown Gold Exchange did not transfer any of its existing company-owned stores to franchisees during that year.
This information is crucial for potential franchisees as it provides insight into the company's growth strategy. The fact that no outlets were sold to franchisees in 2023 could suggest that Crown Gold Exchange prefers to maintain company ownership of its existing stores, or that there were no suitable candidates or opportunities for such transfers during that period.
A prospective franchisee should consider this information in the context of the overall franchise opportunity. It may be beneficial to inquire with Crown Gold Exchange about their future plans for transferring company-owned stores to franchisees, and what criteria they use to evaluate such opportunities. Understanding the company's approach to franchise development can help a potential franchisee assess the long-term prospects and potential for growth within the Crown Gold Exchange system.
It's also worth noting that the FDD includes lists of current franchisees, terminated franchisees, and units for sale, but all of these lists are empty. Additionally, the document states that no franchisees have signed agreements restricting them from discussing their experiences with prospective franchisees. This could be interpreted as a positive sign, indicating transparency and openness within the Crown Gold Exchange franchise system.