What was the net change in the number of franchised Fitstop outlets during 2022?
Fitstop Franchise · 2024 FDDAnswer from 2024 FDD Document
| 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 | |
| Company Owned | 2021 | 0 | 0 | 0 |
| 2022 | 0 | 0 | 0 | |
| 2023 | 0 | 1 | +1 | |
| Total Outlets | 2021 | 0 | 0 | 0 |
| 2022 | 0 | 0 | 0 | |
| 2023 | 0 | 1 | +1 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 47–49)
What This Means (2024 FDD)
According to Fitstop's 2024 Franchise Disclosure Document, the net change in the number of franchised outlets during 2022 was 0. The provided table indicates that at the start of 2022, there were 0 franchised outlets, and by the end of the year, the number remained at 0. This suggests that no new franchised locations opened, and no existing ones closed or were terminated during that year.
For a prospective franchisee, this data indicates that Fitstop was in its early stages of franchising during 2022. The absence of any net change in franchised outlets could be due to various factors, such as the franchise system being newly established, challenges in attracting franchisees, or a deliberate strategy of slow, controlled growth.
It's important to note that while there was no net change in franchised outlets, the company-owned outlets also remained at 0 for 2022, but increased to 1 in 2023. This suggests a potential shift in strategy or progress in establishing the Fitstop brand. A potential franchisee should inquire about the reasons for the lack of franchised outlet growth in 2022 and the subsequent opening of a company-owned outlet in 2023 to better understand the brand's development and future plans.