In 2023, how many Golden Krust Caribbean Restaurant outlets were closed in Massachusetts?
Golden_Krust_Caribbean_Restaurant Franchise · 2024 FDDAnswer from 2024 FDD Document
| State | Year | Outlets at Start of Year | Outlets Opened | Outlets | Outlets Closed | Outlets Sold to Franchisee | Outlets at End of the Year |
|---|---|---|---|---|---|---|---|
| Reacquired From Franchisee | |||||||
| CT | 2021 | 1 | 0 | 0 | 0 | 0 | 1 |
| 2022 | 1 | 0 | 0 | 0 | 0 | 1 | |
| 2023 | 1 | 0 | 0 | 0 | 0 | 1 | |
| MA | 2021 | 1 | 0 | 0 | 0 | 0 | 1 |
| 2022 | 1 | 0 | 0 | 0 | 0 | 1 | |
| 2023 | 1 | 0 | 0 | 1 | 0 | 0 | |
| NY | 2021 | 1 | 0 | 0 | 0 | 0 | 1 |
| 2022 | 1 | 0 | 0 | 0 | 0 | 1 | |
| 2023 | 1 | 0 | 0 | 0 | 0 | 1 | |
| Totals | 2021 | 3 | 0 | 0 | 0 | 0 | 3 |
| 2022 | 3 | 0 | 0 | 0 | 0 | 3 | |
| 2023 | 3 | 0 | 0 | 1 | 0 | 2 |
Source: Item 20 — LIST OF OUTLETS AND FRANCHISE INFORMATION (FDD pages 32–35)
What This Means (2024 FDD)
According to Golden Krust Caribbean Restaurant's 2024 Franchise Disclosure Document, in 2023, one outlet was closed in Massachusetts. The table provided in Item 20 details the status of company-owned outlets for the fiscal years ending 2021, 2022, and 2023.
Specifically, for Massachusetts in 2023, the table shows that there was one outlet at the start of the year and one outlet closed during the year, resulting in zero outlets at the end of the year. This indicates a complete closure of the Golden Krust Caribbean Restaurant location in Massachusetts during that period.
Prospective franchisees should pay close attention to outlet closure rates as they can be indicative of the overall health and stability of the franchise system. While one closure in a specific state may not be alarming on its own, it is important to investigate the reasons behind the closure and whether similar issues could affect other locations. Further research and due diligence, including speaking with current and former franchisees, is recommended to gain a comprehensive understanding of the franchise's performance and potential risks.