What was the total number of Crown Gold Exchange outlets at the end of 2022?
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, at the end of 2022, there were a total of 7 outlets. These were all company-owned, with no franchised outlets in operation at that time. This number remained constant throughout 2021, 2022, and 2023.
Specifically, the FDD details the breakdown between franchised and company-owned outlets. For franchised outlets, the number remained at zero for the years 2021, 2022 and 2023. For company-owned outlets, the number started at 7 in 2021 and remained at 7 through 2022 and 2023. The total number of outlets, therefore, mirrors the company-owned outlet count.
For a prospective franchisee, this indicates that Crown Gold Exchange was primarily operating through company-owned stores during this period. The company did not have any franchised locations during the 2021-2023 timeframe. This could suggest a more controlled operational model or a recent shift towards franchising, which potential franchisees should investigate further to understand the brand's growth strategy and support system for new franchisees.