What was the number of Engineering For Kids franchised outlets closed during the 2023 period?
Engineering_For_Kids Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Number of franchisees sold and opened during the period: | 2 | 1 | 1 |
| Number of franchised outlets sold, | 1 | 0 | 0 |
| but not yet opened during the period: | |||
| Number of franchised outlets in operation during the period: | 23 | 23 | 26 |
| Number of franchised outlets closed during the period: | 2 | 4 | 5 |
Source: Item 22 — CONTRACTS (FDD page 53)
What This Means (2025 FDD)
According to Engineering For Kids's 2025 Franchise Disclosure Document, there were 4 franchised outlets closed during the 2023 period. This information is part of a broader table that also includes data from 2022 and 2024, offering a year-over-year comparison of key franchise metrics. The table provides additional context, such as the number of franchises sold and opened, as well as the number of outlets in operation.
For a prospective franchisee, this closure rate can be an important factor to consider. While closures are a normal part of any franchise system, a high number could indicate potential issues with the brand, market saturation, or franchisee profitability. Reviewing closure rates over multiple years, as presented in the table, provides a more comprehensive understanding of the franchise's stability.
It's also worth noting that the number of outlets in operation remained constant at 23 from 2023 to 2024, despite 2 closures in 2024. This suggests that new franchises opened during that year offset the closures. Prospective franchisees should inquire about the reasons for closures and the support Engineering For Kids provides to help franchisees succeed and remain operational.