How many Extreme Art Studio outlets were reacquired from franchisees in Minnesota during 2022?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
| State | Year | Outlets at | Outlets | Outlets Sold to | Outlets at End | ||
|---|---|---|---|---|---|---|---|
| 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 |
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 reacquired franchises in Minnesota during 2022. The provided table regarding outlets and franchisee information indicates that in 2022, there were zero outlets reacquired from franchisees in Minnesota. This suggests that during this period, Extreme Art Studio did not repurchase any franchise locations within the state.
This information is relevant for prospective franchisees as it provides insight into the stability and relationship between Extreme Art Studio and its franchisees in Minnesota. The absence of reacquired outlets could indicate a healthy franchise network within the state, where franchisees are successfully operating their businesses without the need for the franchisor to step in and take over.
However, it is important to consider this data in conjunction with other factors, such as the number of outlets opened and closed, as well as the overall financial performance of franchises in Minnesota. A more comprehensive understanding of the franchise landscape in Minnesota can be gained by reviewing the complete Item 20 data and speaking with current and former franchisees.