How many Gokhale Method outlets in Illinois ceased operations for reasons other than termination, non-renewal, or reacquisition by the franchisor during 2021?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
021 to 2023
| State | Year | Outletsat Startof Year | Outlets Opened | Terminatio ns | Non Renewals | Reacquired by Franchisor | Ceased Operations Other Reasons | Outletsat Endofthe Year |
|---|---|---|---|---|---|---|---|---|
| Alabama | 2021 | 1 | 0 | 0 | 0 | 0 | 0 | 1 |
| 2022 | 1 |
Source: Item 20 — OUTLETS AND FRANCHISEE REPRESENTATIONS (FDD pages 30–34)
What This Means (2024 FDD)
According to the 2024 Gokhale Method Franchise Disclosure Document, one Gokhale Method outlet in Illinois ceased operations for reasons other than termination, non-renewal, or reacquisition by the franchisor during 2021. At the start of 2021, there were two outlets, and by the end of the year, there was one, with one outlet ceasing operations for other reasons.
This information is crucial for potential franchisees as it provides insight into the stability and potential risks associated with operating a Gokhale Method franchise in Illinois. Understanding the reasons behind outlet closures can help franchisees make informed decisions and prepare for potential challenges.
It's important to note that 'ceased operations for other reasons' can encompass a variety of factors, such as financial difficulties, relocation, or other unforeseen circumstances. A prospective franchisee should investigate further to understand the specific reasons for these closures and assess whether these factors could impact their own franchise.