What was the net change in the number of company-owned Extreme Art Studio outlets during 2022?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
. 1 System-wide Outlet Summary For Years 2021 to 2023
| Outlet Type | Year | Outlets at the Start of the Year | Outlets at the End of the Year | Net Change |
|---|---|---|---|---|
| Franchised | 2021 | 0 | 0 | 0 |
| 2022 | 0 | 0 | 0 | |
| 2023 | 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, the net change in the number of company-owned outlets during 2022 was 0. The provided table, titled "System-wide Outlet Summary For Years 2021 to 2023", shows that at the start of 2022, there were 0 company-owned outlets, and by the end of 2022, the number remained at 0.
This indicates that Extreme Art Studio did not open or close any company-owned locations during that year. For a prospective franchisee, this could suggest that the company is primarily focused on expanding through franchising rather than investing in its own corporate stores. It's important to note that this data reflects only a snapshot in time, and the company's strategy may have changed since then.
It would be beneficial for a potential franchisee to inquire about Extreme Art Studio's long-term plans for company-owned versus franchised locations. Understanding the company's growth strategy can provide valuable insight into the level of support and competition a franchisee might expect.