How many total Crown Gold Exchange outlets were operating at the start of 2021?
Crown_Gold_Exchange Franchise · 2024 FDDAnswer from 2024 FDD Document
Table 1 Systemwide Outlet Summary For Years 2021 to 2023**
| 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 |
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, at the start of 2021, there were a total of 7 outlets operating. These consisted of 7 company-owned outlets and 0 franchised outlets.
Specifically, in California, there were 7 outlets at the start of 2021, all of which were company-owned. Throughout 2021, no additional outlets were opened, reacquired from franchisees, or closed. This means the year concluded with the same 7 outlets in operation.
For a prospective franchisee, this indicates that Crown Gold Exchange was operating a small number of company-owned locations at the time, with no franchised locations yet established. This could suggest that the franchise system was relatively new or still in a developmental stage at the beginning of 2021.