What was the total number of Crown Gold Exchange outlets at the start of 2023?
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 start of 2023, there were a total of 7 outlets. These were all company-owned; there were zero franchised outlets at that time. This information is derived from the systemwide outlet summary.
Specifically, the FDD provides a table outlining the number of franchised and company-owned outlets at the start and end of each year from 2021 to 2023, as well as the net change. For 2023, the table indicates that there were 0 franchised outlets and 7 company-owned outlets at the start of the year. The total number of outlets at the start of 2023 is therefore 7.
This data is useful for prospective franchisees as it provides insight into the historical growth and composition of the Crown Gold Exchange system. The fact that all outlets were company-owned at the beginning of 2023 may suggest that the franchise system is relatively new or that the company has historically preferred to operate its own locations. A potential franchisee might want to inquire about the company's strategy for franchising and the support provided to franchisees compared to company-owned stores.
It is important to note that this information is based on data reported by Crown Gold Exchange and included in the FDD. While the FDD is intended to provide accurate and complete information, prospective franchisees should conduct their own due diligence and verify this information through independent sources, such as current and former franchisees, and by consulting with legal and financial advisors.