How many company-owned Golden Krust Caribbean Restaurant outlets were closed in Massachusetts during 2023?
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, one company-owned outlet in Massachusetts was closed during 2023. The table provided in Item 20 details the status of company-owned outlets, showing that Massachusetts started 2023 with one company-owned outlet and ended the year with zero due to one closure.
This information is relevant for prospective franchisees as it provides insight into the performance and stability of company-owned stores in specific locations. Closures can indicate market challenges or strategic decisions by the franchisor. Observing the number of closures can help potential franchisees assess the risks and opportunities associated with operating a Golden Krust Caribbean Restaurant in a particular state.
It's important to note that while one company-owned store closed in Massachusetts, the document does not specify the reasons for the closure. Further investigation into the circumstances surrounding the closure may be beneficial for prospective franchisees to understand the potential challenges and opportunities in that market.