How many franchised Devon Creek outlets were open at the start of 2021?
Devon_Creek Franchise · 2024 FDDAnswer from 2024 FDD Document
| Outlet Type | Year | Outlets at the | Outlets at the | Net Change |
|---|---|---|---|---|
| Start of the Year | End of the Year | |||
| Franchised | 2021 | 0 | 0 | 0 |
| 2022 | 0 | 0 | 0 | |
| 2023 | 0 | 0 | 0 | |
| Company – | 2021 | 1 | 1 | 0 |
| Owned* | 2022 | 1 | 1 | 0 |
| 2023 | 1 | 1 | 0 | |
| Total Outlets | 2021 | 1 | 1 | 0 |
| 2022 | 1 | 1 | 0 | |
| 2023 | 1 | 1 | 0 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 43–45)
What This Means (2024 FDD)
According to Devon Creek's 2024 Franchise Disclosure Document, at the start of 2021, there were zero franchised outlets open. The FDD provides a system-wide outlet summary for the years 2021 to 2023.
For a prospective franchisee, this indicates that Devon Creek is a relatively new franchise system or is in the early stages of franchising its business model. This could present both opportunities and risks. The opportunity might be entering a market with less competition from the same brand, while the risk could be the lack of an established track record for franchised locations.
It's important to note that while there were no franchised outlets, there was one company-owned outlet in operation at the start of 2021. This detail is relevant because it shows that Devon Creek had at least one operational business to learn from and potentially refine its business model before offering franchises. A potential franchisee should investigate how the company-owned store's performance and operations have informed the franchise model and training programs.
Given the absence of franchised outlet history, a prospective franchisee should conduct thorough due diligence. This includes carefully evaluating the performance of the company-owned outlet, understanding the franchisor's plans for supporting franchisees, and assessing the overall market demand for Devon Creek's services or products. Speaking with the franchisor directly about their growth strategy and vision for the franchise network is also crucial.