What was the total number of Devon Creek outlets in New York at the end of 2023?
Devon_Creek Franchise · 2024 FDDAnswer from 2024 FDD Document
Status of Company Owned* Outlets For Years 2021 to 2023
| State | Year | Outlets at Start of Year | Outlets Opened | Outlets Reacquired from | Outlets Closed | Outlets Sold to Franchisees | Outlets at End of the |
|---|---|---|---|---|---|---|---|
| Franchisees | Year | ||||||
| New York | 2021 | 1 | 0 | 0 | 0 | 0 | 1 |
| 2022 | 1 | 0 | 0 | 0 | 0 | 1 | |
| 2023 | 1 | 0 | 0 | 0 | 0 | 1 | |
| Total | 2021 | 1 | 0 | 0 | 0 | 0 | 1 |
| 2022 | 1 | 0 | 0 | 0 | 0 | 1 | |
| 2023 | 1 | 0 | 0 | 0 | 0 | 1 |
* Our company-owned outlet is operated by our affiliate.
Table No. 5 Projected Openings as of December 31, 2023
| State | Franchise Agreements Signed But Outlet Not Opened | Projected New Franchised Outlets in the Next Fiscal Year | Projected New Company Owned Outlets in the Next Fiscal Year |
|---|---|---|---|
| None | 0 | 0 | 0 |
| Total | 0 | 0 | 0 |
Exhibit E lists the location of each Devon Creek Franchise Group, LLC franchisee in our System.
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 end of 2023, there was a total of 1 outlet in New York. This single outlet was company-owned, as there were no franchised outlets in the state during that year. The number of outlets remained constant throughout 2021, 2022, and 2023, with no openings, re acquisitions, or closures during those years.
For a prospective franchisee, this indicates a limited presence of Devon Creek in New York. The market may be relatively untapped, presenting both opportunities and challenges. The fact that the single outlet is company-owned could mean that Devon Creek is still testing the market or prefers to maintain direct control over operations in that state.
It's important to note that the FDD provides historical data, and future performance may vary. A potential franchisee should investigate the reasons behind the limited number of outlets in New York and Devon Creek's plans for expansion in the state. Understanding the competitive landscape and local market conditions is crucial before investing in a franchise in this area.