How many Floyds 99 outlets closed in Michigan during 2024?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
| State | Year | Outlets at Start of Year | Outlets Opened | Terminations | Non- Renewals | Reacquired by Franchisor | Ceased Operations Other Reasons | Outlets at End of Year | |---|---|---|---|---|---|---|---|---| | Florida | 2022 | 6 | 0 | 0 | 0 | 0 | 0 | 6 | | | 2023 | 6 | 2 | 0 | 0 | 0 | 0 | 8 | | | 2024 | 8 | 2 | 0 | 0 | 0 | 0 | 10 | | Kentucky | 2022 | 1 | 1 | 0 | 0 | 0 | 0 | 2 | | | 2023 | 2 | 1 | 0 | 0 | 0 | 0 | 3 | | | 2024 | 3 | 0 | 0 | 0 | 0 | 0 | 3 | | Minnesota | 2022 | 2 | 1 | 0 | 0 | 0 | 0 | 3 | | | 2023 | 3 | 1 | 0 | 0 | 0 | 0 | 4 | | | 2024 | 4 | 0 | 0 | 0 | 0 | 1 | 3 | | Nevada | 2022 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | | | 2023 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | | | 2024 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | | Oklahoma | 2022 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | | 2023 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | | 2024 | 0 | 1 | 0 | 0 | 0 | 0 | 1 | | Texas | 2022 | 24 | 1 | 0 | 0 | 0 | 0 | 25 | | | 2023 | 25 | 3 | 0 | 0 | 0 | 0 | 28 | | | 2024 | 28 | 2 | 0 | 0 | 0 | 0 | 30 | | Totals | 2022 | 49 | 3 | 0 | 0 | 0 | 0 | 52 | | | 2023 | 52 | 10 | 0 | 0 | 0 | 0 | 62 | | | 2024 | 62 | 5 | 0 | 0 | 0 | 2 | 65 | (1) All numbers are as of December 31 for each year.
Table 4.
STATUS OF COMPANY-OWNED OUTLETS FOR YEARS 2022 TO 2024(1)
| State | Year | Outlets at Start of Year | Outlets Opened | Outlets Reacquired from Franchisees | Outlets Clos
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 53–57)
What This Means (2025 FDD)
According to Floyds 99's 2025 Franchise Disclosure Document, one outlet in Michigan was closed during 2024. The table provided in Item 20 details the changes in outlet numbers across various states over the past three years. This closure resulted in the number of outlets in Michigan decreasing from two at the start of 2024 to one by the end of the year. No outlets were opened, reacquired from franchisees, or sold to franchisees in Michigan during 2024.
This information is crucial for potential franchisees as it provides insight into the stability and performance of Floyds 99 locations in specific regions. A decrease in the number of outlets, even by one, could indicate challenges or market saturation in that area. It is important to note that while one location closed, there could be various reasons for the closure, such as underperformance, lease issues, or strategic decisions by the franchisee or franchisor.
Prospective franchisees should further investigate the reasons behind the closure of the Michigan location to better understand the market dynamics and potential risks associated with operating a Floyds 99 franchise in that state. Understanding the factors that led to the closure can help in making a more informed decision about investing in a franchise and developing strategies to mitigate similar risks. This also highlights the importance of conducting thorough market research and due diligence before committing to a franchise agreement.