How many total Crown Gold Exchange outlets were operating at the end of 2023?
Crown_Gold_Exchange Franchise · 2024 FDDAnswer from 2024 FDD Document
| Outlet Type | Year | Column 3 | Column 4 | Net Change |
|---|---|---|---|---|
| Outlets at the Start of the Year | Outlets at the End of the Year | |||
| Franchised | 2021 | 0 | 0 | 0 |
| 2022 | 0 | 0 | 0 | |
| 2023 | 0 | 0 | 0 | |
| Company-Owned | 2021 | 7 | 7 | 0 |
| 2022 | 7 | 7 | 0 | |
| 2023 | 7 | 7 | 0 | |
| Total Outlets | 2021 | 7 | 7 | 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 a total of 7 outlets operating at the end of 2023. These were all company-owned. The FDD specifies that there were 7 company-owned outlets at the start of 2023 and 7 at the end of 2023, with no net change during the year.
Notably, there were no franchised Crown Gold Exchange outlets operating during this period. The tables in Item 20 detail the status of both franchised and company-owned outlets, showing that the franchised outlet count remained at zero throughout 2021, 2022, and 2023. This indicates that Crown Gold Exchange was primarily operating through company-owned stores during these years.
For a prospective franchisee, this information highlights that the Crown Gold Exchange system, at least until the end of 2023, was heavily reliant on company-owned operations. This could suggest a potentially different dynamic in terms of support, brand consistency, and overall system management compared to franchise systems with a mix of franchised and company-owned locations. It also means that the franchisee would not have other franchisees to consult with.