How many Extreme Art Studio franchises were terminated in 2022?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
3 Status of Franchised Outlets For Years 2021 to 2023
| Termina- tions | Ceased | |||||||
|---|---|---|---|---|---|---|---|---|
| Outlets at | Outlets at | |||||||
| Outlets | Non- | Reacquired by | Opera- | |||||
| State | Year | Star of | End of | |||||
| Opened | Renewals | Franchisor | tions-Other | |||||
| the Year | the Year | |||||||
| Reasons | ||||||||
| Totals | 2021 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 2022 | 0 | 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 franchise terminations in 2022. The provided table outlines the status of franchised outlets from 2021 to 2023. For 2022, the table indicates that there were 0 outlets at the start of the year, 0 outlets opened, 0 terminations, 0 non-renewals, 0 outlets reacquired by the franchisor, and 0 ceased operations for other reasons, resulting in 0 outlets at the end of the year.
This suggests that, at least within the period covered by the table, Extreme Art Studio did not experience any franchise terminations. This could be interpreted positively, indicating stability within the franchise system. However, it is important to consider that this data only reflects the specific years presented in the table.
A prospective franchisee should investigate further to understand the historical trends of franchise terminations beyond the provided three-year period. Understanding the reasons behind any past terminations, even if none occurred in 2022, can provide valuable insight into the potential challenges and risks associated with operating an Extreme Art Studio franchise.