How many Extreme Art Studio outlets were opened in 2023?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
tatus of Company-Owned Outlets For Years 2021 to 2023
| | | | | 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 | | Total Outlets | 2021 | 0 | 0 | 0 | 0 | 0 | 0 | | | 2022 | 0 | 0 | 0 | 0 | 0 | 0 | | | 2023 | 0 | 0 | 0 | 0 | 0 | 0 | Table No. 5 Projected Openings as of December 31, 2023 for 2024
| State | Franchise Agreements Signed But Outlet Not Opened | Projected New Franchised | Projected New Company- Owned Outlets in the Next Fiscal Year | |---|---|---|---| | | | Outlets in the Next Fiscal Year | | | Florida | 0 | 1 | 0 | | Georgia | 0 | 1 | 0 | | Minnesota | 0 | 0 | 2 | | Virginia | 0 | 1 | 0 | | Total | 0 | 4 | 0 | A list of the names of all franchisees and the addresses and telephone numbers of their businesses is provided in Exhibit G to this Franchise Disclosure Document. The name, city, state, and current business telephone number (or if unknown, the last known home telephone number) of every franchisee who had an Extreme Art Studio Business terminated, cancelled, not renewed, or otherwise voluntarily or involuntarily ceased to do business under the Franchise Agreement during the 2023 fiscal year, or who has not communicated with us within ten weeks of the Issuance Date of this Franchise Disclosure Document will be listed on Exhibit G to this Franchise Disclosure Document when applicable. In some instances, current and former franchisees may sign provisions restricting their ability to speak openly about their experiences with the System.
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 zero outlets opened in 2023. This is based on the provided tables that summarize the status of franchised outlets, company-owned outlets, and the system-wide outlet summary.
Specifically, Table No. 3, titled "Status of Franchised Outlets For Years 2021 to 2023," indicates that in 2023, zero outlets were opened in Minnesota, and the total number of outlets opened was also zero. Table No. 1, "System-wide Outlet Summary For Years 2021 to 2023," confirms that for franchised, company-owned, and total outlets, the number opened in 2023 was zero.
This data suggests that Extreme Art Studio did not expand its number of locations in 2023. A potential franchisee should further investigate the reasons behind the lack of growth and understand Extreme Art Studio's plans for future expansion. It would be prudent to ask the franchisor about their strategies for increasing the number of outlets and what support they provide to franchisees to facilitate growth.