How many Golden Krust Caribbean Restaurant outlets in Maryland were operating at the start of 2023?
Golden_Krust_Caribbean_Restaurant Franchise · 2024 FDDAnswer from 2024 FDD Document
sed Outlets For Years Ending 2021, 2022, and 2023* (Golden Krust Caribbean Restaurant – Traditional Restaurant)**
| State | Year | Outlets at Start of Year | Outlets Opened | Terminations | Non renewals | Reacquired by Franchisor | Ceased Operations - Other Reasons | Outlets at End of the Year |
|---|---|---|---|---|---|---|---|---|
| CT | 2021 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 2022 | 0 | 1 | 0 | 0 | 0 | 0 | 1 | |
| 2023 | 1 | 0 | 0 | 0 | 0 | 0 | 1 |
Source: Item 20 — LIST OF OUTLETS AND FRANCHISE INFORMATION (FDD pages 32–35)
What This Means (2024 FDD)
According to the 2024 Franchise Disclosure Document, Golden Krust Caribbean Restaurant had 2 outlets operating in Maryland at the start of 2023. The table provided in Item 20 of the FDD details the status of franchised outlets for the years 2021, 2022, and 2023. This information is crucial for potential franchisees to understand the brand's presence and stability in specific geographic areas.
Specifically, the data shows that the number of Golden Krust Caribbean Restaurant outlets in Maryland remained constant at 2 for the years 2021, 2022 and 2023. There were no openings, terminations, non-renewals, re acquisitions by the franchisor, or ceased operations during this period. This indicates a stable market presence for Golden Krust Caribbean Restaurant in Maryland.
For a prospective franchisee, this information suggests that the Maryland market may be stable but not rapidly expanding. It would be prudent to investigate further into the performance of these existing Maryland locations and understand the market dynamics to assess the potential for a new Golden Krust Caribbean Restaurant franchise in that state. Understanding the factors contributing to the stability, such as local competition and customer demand, is essential for making an informed investment decision.