How many Fast Fix Jewelry And Watch Repairs outlets were closed in 2024?
Fast_Fix_Jewelry_And_Watch_Repairs Franchise · 2025 FDDAnswer from 2025 FDD Document
| State | Year | Outlets at | Outlets Opened | Terminations | Non-Renewals | Reacquired by | Outlets At | |
|---|---|---|---|---|---|---|---|---|
| Start of Year | Franchisor | End Of Year | ||||||
| Indiana | 2022 | 1 | 0 | 0 | 0 | 0 | 0 | 1 |
| 2023 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | |
| 2024 | 1 | 0 | 0 | 0 | 0 | 1 | 0 | |
| Kentucky | 2022 | 3 | 0 | 0 | 0 | 0 | 0 | 3 |
| 2023 | 3 | 0 | 0 | 0 | 0 | 0 | 3 | |
| 2024 | 3 | 0 | 0 | 0 | 0 | 0 | 3 | |
| Maryland | 2022 | 2 | 0 | 0 | 0 | 0 | 0 | 2 |
| 2023 | 2 | 0 | 0 | 0 | 0 | 0 | 2 | |
| 2024 | 2 | 0 | 0 | 0 | 0 | 0 | 2 | |
| Missouri | 2022 | 1 | 0 | 0 | 0 | 0 | 0 | 1 |
| 2023 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | |
| 2024 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | |
| Nevada | 2022 | 1 | 0 | 0 | 0 | 0 | 0 | 1 |
| 2023 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | |
| 2024 | 1 | 0 | 1 | 0 | 0 | 0 | 0 | |
| New Mexico | 2022 | 1 | 0 | 0 | 0 | 0 | 0 | 1 |
| 2023 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | |
| 2024 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | |
| New York | 2022 | 3 | 0 | 0 | 0 | 0 | 0 | 3 |
| 2023 | 3 | 0 | 0 | 0 | 0 | 0 | 3 | |
| 2024 | 3 | 0 | 0 | 0 | 0 | 0 | 3 | |
| North Carolina | 2022 | 1 | 0 | 0 | 0 | 0 | 0 | 1 |
| 2023 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | |
| 2024 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | |
| Oregon | 2022 | 2 | 0 | 0 | 0 | 0 | 0 | 2 |
| 2023 | 2 | 0 | 2 | 0 | 0 | 0 | 0 | |
| 2024 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Pennsylvania | 2022 | 3 | 0 | 0 | 0 | 0 | 0 | 3 |
| 2023 | 3 | 0 | 0 | 0 | 0 | 0 | 3 | |
| 2024 | 3 | 0 | 0 | 0 | 0 | 0 | 3 | |
| South Carolina | 2022 | 1 | 0 | 0 | 0 | 0 | 0 | 1 |
| 2023 | 1 | 1 | 0 | 0 | 0 | 0 | 2 | |
| 2024 | 2 | 0 | 0 | 0 | 0 | 0 | 2 | |
| Tennessee | 2022 | 4 | 0 | 0 | 0 | 0 | 0 | 4 |
| 2023 | 4 | 0 | 0 | 0 | 0 | 0 | 4 | |
| 2024 | 4 | 0 | 0 | 0 | 0 | 0 | 4 | |
| Texas | 2022 | 11 | 0 | 0 | 0 | 0 | 0 | 11 |
| 2023 | 11 | 0 | 0 | 0 | 0 | 0 | 11 | |
| 2024 TABLE 3 - STATUS OF FRANCHISED OUTLETS FOR YEARS 2022 TO 2024 | 11 | 0 | 0 | 0 | 0 | 0 | 11 | |
| State | Year | Outlets at Start of Year | Outlets Opened | Terminations | Non-Renewals | Reacquired by Franchisor | Ceased Operation Other Reason | Outlets At End Of Year |
| Utah | 2022 | 1 | 0 | 0 | 0 | 0 | 0 | 1 |
| 2023 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | |
| 2024 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | |
| Virginia | 2022 | 4 | 0 | 0 | 0 | 0 | 0 | 4 |
| 2023 | 4 | 0 | 1 | 0 | 0 | 0 | 3 | |
| 2024 | 3 | 0 | 0 | 0 | 0 | 0 | 3 | |
| Washington | 2022 | 1 | 0 | 0 | 0 | 0 | 0 | 1 |
| 2023 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | |
| 2024 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | |
| Totals | 2022 | 126 | 1 | 0 | 0 | 0 | 4 | 123 |
| 2023 | 123 | 3 | 7 | 0 | 2 | 0 | 117 | |
| 2024 TABLE 4 - STATUS OF COMPANY-OWNED OUTLETS FOR YEARS 2022 TO 2024 | 117 | 1 | 1 | 0 | 0 | 5 | 112 | |
| State | Year | Outlets Opened | O | Outlets Closed | ||||
| Arizona | 2022 | 2 | 0 | 0 | 0 | 0 | 2 | |
| 2023 | 2 | 0 | 0 | 0 | 2 | 0 | ||
| 2024 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| California | 2022 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 2023 | 0 | 0 | 2 | 0 | 0 | 2 | ||
| 2024 | 2 | 0 | 0 | 0 | 1 | 1 | ||
| Florida | 2022 | 1 | 0 | 0 | 0 | 0 | 1 | |
| 2023 | 1 | 0 | 0 | 0 | 0 | 1 | ||
| 2024 | 1 | 0 | 0 | 0 | 0 | 1 | ||
| Georgia | 2022 | 1 | 0 | 0 | 0 | 1 | 0 | |
| 2023 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| 2024 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Illinois | 2022 | 1 | 0 | 0 | 1 | 0 | 0 | |
| 2023 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| 2024 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| New York | 2022 | 2 | 0 | 0 | 0 | 0 | 2 | |
| 2023 | 2 | 0 | 0 | 1 | 0 | 1 | ||
| 2024 | 1 | 0 | 0 | 0 | 0 | 1 | ||
| South Carolina | 2022 | 1 | 0 | 0 | 0 | 0 | 1 | |
| 2023 | 1 | 0 | 0 | 0 | 1 | 0 | ||
| 2024 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Texas | 2022 | 1 | 0 | 0 | 0 | 0 | 1 | |
| 2023 | 1 | 0 | 0 | 0 | 0 | 1 | ||
| 2024 | 1 | 0 | 0 | 0 | 0 | 1 | ||
| TABLE 4 - STATUS OF COMPANY-OWNED OUTLETS FOR YEARS 2022 TO 2024 | ||||||||
| State | Year | Outlets at Star t of Year | Outlets Opened | O | utlets Reacquire d from Franchisees | Outlets Closed | ||
| Totals | 2 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 37)
What This Means (2025 FDD)
According to Fast Fix Jewelry And Watch Repairs's 2025 Franchise Disclosure Document, no outlets were closed during the 2024 fiscal year. At the start of 2024, there were 5 outlets, and by the end of the year, the number remained at 4 after one outlet was sold to a franchisee.
This information is crucial for potential franchisees as it provides insight into the stability and performance of existing Fast Fix Jewelry And Watch Repairs locations. A history of store closures could indicate underlying issues with the franchise model, market saturation, or lack of support from the franchisor. Conversely, a low number of closures, as is the case here, can be seen as a positive sign.
It is important to note that while no outlets were closed, one was sold to a franchisee. This could be a strategic decision by Fast Fix Jewelry And Watch Repairs to shift towards a franchise-owned model or could indicate challenges in managing company-owned stores. Prospective franchisees should inquire about the reasons behind this sale and the overall strategy of the franchisor regarding company-owned versus franchise-owned locations.
Overall, the absence of closures in 2024 suggests a degree of stability within the Fast Fix Jewelry And Watch Repairs system. However, potential franchisees should still conduct thorough due diligence, including speaking with existing franchisees and reviewing the complete FDD, to fully understand the risks and opportunities associated with investing in this franchise.