Did any Dryer Vent Squad outlets have non-renewals in 2023?
Dryer_Vent_Squad Franchise · 2024 FDDAnswer from 2024 FDD Document
2022 | 0 | | | 2023 | 0 | [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
TABLE NO. 3 STATUS OF FRANCHISED OWNED OUTLETS FOR YEARS 2019 to 2021
| State | Year | Outlets at Start of Year | Outlets Opened | Terminations | Non Renewals | Reacquired by Franchisor | Ceased Operations for Other Reasons | Outlets at End of Year | |---|---|---|---|---|---|---|---|---| | | | | | | | | | | | Alabama | 2021 | 0 | 1 | 0 | 0 | 0 | 0 | 1 | | | 2022 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | | | 2023 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | | Arizona | 2021 | 0 | 1 | 0 | 0 | 0 | 0 | 1 | | | 2022 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | | | 2023 | 1 | 3 | 0 | 0 | 0 | 0 | 4 | | Colorado | 2021 | 2 | 1 | 0 | 0 | 0 | 0 | 3 | | | 2022 | 3 | 0 | 0 | 0 | 0 | 0 | 3 | | | 2023 | 3 | 1 | 0 | 0 | 0 | 0 | 4 | | Florida | 2021 | 0 | 2 | 0 | 0 | 0 | 0 | 2 | | | 2022 | 2 | 0 | 0 | 0 | 0 | 0 | 2 | | | 2023 | 2 | 3 | 2 | 0 | 0 | 0 | 3 | | Georgia | 2021 | 0 | 2 | 0 | 0 | 0 | 0 | 2 | | | 2022 | 2 | 0 | 0 | 0 | 0 | 0 | 2 | | | 2023 | 2 | 1 | 0 | 0 | 0 | 0 | 3 | | Indiana | 2021 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | | 2022 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | | 2023 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | | Kentucky | 2021 | 2 | 1 | 0 | 0 | 0 | 0 | 3 | | | 2022 | 3 | 0 | 0 | 0 | 0 | 0 | 3 | | | 2023 | 3 | 0 | 1 | 0 | 0 | 0 | 2 | | Louisiana | 2021 | 0 | 1 | 0 | 0 | 0 | 0 | 1 | | | 2022 | 1 | 0 | 1 | 0 | 0 | 0 | 0 | | | 2023 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Massachusetts | 2021 | 0 | 1 | 0 | 0 | 0 | 0 | 1 |
|---|---|---|---|---|---|---|---|---|
| 2022 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | |
| 2023 | 1 | 3 | 0 | 0 | 0 | 0 | 4 | |
| Mississippi | 2021 | 0 | 1 | 0 | 0 | 0 | 0 | 1 |
| 2022 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | |
| 2023 | 1 | 0 | 1 | 0 | 0 | 0 | 0 | |
| New Jersey | 2021 | 4 | 1 | 0 | 0 | 0 | 1 | 4 |
| 2022 | 4 | 0 | 0 | 0 | 0 | 0 | 4 | |
| 2023 | 4 | 5 | 2 | 0 | 0 | 0 | 7 | |
| New York | 2021 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 2022 | 0 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 47–50)
What This Means (2024 FDD)
According to Dryer Vent Squad's 2024 Franchise Disclosure Document, there were no non-renewals of franchise agreements in 2023. The provided tables in Item 20 detail outlet information, including openings, terminations, and closures, but specifically show zero non-renewals across all states for the year 2023.
This information is crucial for potential franchisees as it can indicate the stability and satisfaction of current franchisees within the Dryer Vent Squad system. A lack of non-renewals suggests that franchisees are generally content with their investment and the support provided by the franchisor, although it is important to also consider terminations and other reasons for ceased operations.
While the absence of non-renewals is a positive sign, prospective franchisees should still conduct thorough due diligence. This includes contacting current and former franchisees to gain firsthand insights into their experiences, as well as carefully reviewing the reasons for any terminations or closures to understand the full picture of franchise performance and sustainability within the Dryer Vent Squad system.
The FDD also includes lists of current franchisees and those who have left the system, which can be found in Exhibits F and G, respectively. These lists can be valuable resources for gathering information and assessing the overall health and appeal of a Dryer Vent Squad franchise.