What is the total number of Crown Gold Exchange franchises terminated between 2021 and 2023?
Crown_Gold_Exchange Franchise · 2024 FDDAnswer from 2024 FDD Document
Table 3 Status of Franchised Outlets For Years 2021 to 2023*
| 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 |
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 franchise terminations between 2021 and 2023. The provided table in Item 20 of the FDD details the status of franchised outlets from 2021 to 2023.
The table includes specific columns for 'Terminations,' 'Non-Renewals,' and outlets 'Reacquired by Franchisor,' as well as outlets that 'Ceased Operations – Other Reasons.' For each year from 2021 to 2023, the number reported in each of these columns is zero. This indicates that no Crown Gold Exchange franchises were terminated, not renewed, or reacquired by the franchisor during this period. Additionally, no outlets ceased operations for other reasons.
This information is crucial for potential franchisees as it provides insight into the stability and health of the Crown Gold Exchange franchise system. A low number of terminations can be a positive indicator, suggesting that franchisees are generally successful and satisfied with their business. However, it is important to consider this information in conjunction with other factors, such as the number of new franchises opened and the overall financial performance of the franchise system, to get a comprehensive understanding of the franchise opportunity.
Prospective franchisees should also investigate the reasons behind any terminations, even if the number is low, to understand potential challenges or issues within the franchise system. This can be done by speaking with current and former franchisees and asking the franchisor for more detailed information about the reasons for any franchise terminations.