In what state were the company-owned Crown Gold Exchange outlets located between 2021 and 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, all company-owned outlets were located in California between 2021 and 2023. The FDD indicates that Crown Gold Exchange had 7 company-owned outlets in California at the start of each year from 2021 to 2023. No additional outlets were opened, reacquired from franchisees, or closed during this period, so the number of company-owned outlets remained constant at 7.
For a prospective franchisee, this information is useful for understanding the existing company-owned presence of Crown Gold Exchange. The fact that all company-owned stores are in California might suggest a strong regional focus or a testing ground for the franchise model. It could also indicate that the franchisor has a deeper understanding of the California market, which could be beneficial for franchisees operating in that state.
However, it's important to note that the FDD only provides historical data. Future expansion plans or changes in company strategy could alter this distribution. A potential franchisee should inquire about Crown Gold Exchange's plans for company-owned stores, especially if they are considering opening a franchise in a different state. Understanding the franchisor's strategy for company-owned stores can provide valuable insights into their overall approach to the franchise system and their level of support for franchisees in different regions.
It is also worth noting that there were no franchised outlets operating during this time. This could mean that Crown Gold Exchange is a relatively new franchise system or that it has historically relied on company-owned stores. A prospective franchisee should investigate the reasons behind this and understand the franchisor's plans for franchise expansion.