What was the total number of Crown Gold Exchange franchised outlets at the start of 2023?
Crown_Gold_Exchange Franchise · 2024 FDDAnswer from 2024 FDD Document
[Item 20: OUTLETS AND FRANCHISEE INFORMATION]
| 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 the 2024 Franchise Disclosure Document, Crown Gold Exchange had zero franchised outlets at the start of 2023. This information is detailed in Table 3, which specifically tracks the status of franchised outlets from 2021 to 2023. The table indicates that at the beginning of 2023, there were no existing franchised locations.
This absence of franchised locations at the start of 2023 suggests that Crown Gold Exchange may have been a relatively new franchise system or had not yet begun franchising operations at that time. A potential franchisee should consider this when evaluating the maturity and track record of the franchise. It is important to note that while there were no franchised outlets, the company did operate company-owned outlets during this period.
For a prospective franchisee, this information highlights the importance of conducting thorough due diligence. Understanding the historical growth and development of the franchise system is crucial in assessing the potential risks and opportunities associated with investing in a Crown Gold Exchange franchise. Further investigation into the company's franchising strategy and plans for future growth would be beneficial.