What was the net change in the total number of Devon Creek outlets during 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, the net change in the total number of outlets during 2021 was 0. At the start of 2021, there was 1 company-owned outlet and 0 franchised outlets, for a total of 1 outlet. By the end of 2021, there was still 1 company-owned outlet and 0 franchised outlets, for a total of 1 outlet.
This indicates that Devon Creek did not experience any growth or decline in its number of outlets during 2021. There were no new openings, closures, or transfers of ownership. This could be due to a variety of factors, such as a challenging economic environment, a lack of available real estate, or a strategic decision by Devon Creek to focus on other areas of its business.
For a prospective franchisee, this information is important because it provides insight into the growth trajectory of Devon Creek. A stable number of outlets could suggest a mature and well-established brand, or it could indicate a lack of growth potential. It is important to consider this information in conjunction with other factors, such as the financial performance of existing outlets and the overall market demand for Devon Creek's products or services.
It is also worth noting that all of Devon Creek's outlets in 2021 were company-owned, with no franchised locations. This may reflect Devon Creek's business strategy at the time, or it could suggest challenges in attracting franchisees. A prospective franchisee should inquire about Devon Creek's plans for future franchise development and the support it provides to franchisees.