How many Extreme Art Studio company-owned outlets were reacquired from franchisees in Minnesota during 2022?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
| Outlets Reacquired From Franchisee | Outlets Closed | ||||||
|---|---|---|---|---|---|---|---|
| Outlets at | Outlets | Outlets Sold to | Outlets at End | ||||
| State | Year | Start of Year | Opened | Franchisee | of Year | ||
| Minnesota | 2021 | 0 | 0 | 0 | 0 | 0 | 0 |
| 2022 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 2023 | 0 | 0 | 0 | 0 | 0 | 0 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 47–49)
What This Means (2024 FDD)
According to Extreme Art Studio's 2024 Franchise Disclosure Document, there were no outlets reacquired from franchisees in Minnesota during 2022. The provided table regarding outlets reacquired from franchisees shows that in 2022, there were zero reacquired outlets in Minnesota. This indicates that Extreme Art Studio did not take back any franchise locations in Minnesota during that year.
This information is crucial for potential franchisees as it provides insight into the stability and performance of existing franchise locations. The absence of reacquired outlets could suggest that franchisees in Minnesota are generally successful and maintaining their businesses. However, it is important to consider this data in conjunction with other factors, such as the number of outlets opened and closed, to gain a comprehensive understanding of the franchise's performance in the state.
It is also worth noting that the table covers the years 2021 to 2023, providing a historical perspective on outlet re acquisitions. The fact that there were no re acquisitions in Minnesota during this entire period could be a positive sign for prospective franchisees. However, it is essential to conduct thorough due diligence and speak with current and former franchisees to gather additional information about their experiences and the overall health of the Extreme Art Studio franchise system.