What was the total number of company-owned Golden Krust Caribbean Restaurant outlets at the end of 2023?
Golden_Krust_Caribbean_Restaurant Franchise · 2024 FDDAnswer from 2024 FDD Document
| OUTLET TYPE | YEAR | OUTLETS AT THE START OF THE YEAR | OUTLETS AT THE END OF THE YEAR | NET CHANGE |
|---|---|---|---|---|
| Franchised | 2021 | 105 | 107 | +2 |
| 2022 | 107 | 107 | 0 | |
| 2023 | 107 | 106 | -1 | |
| Company | 2021 | 3 | 3 | 0 |
| Owned | ||||
| 2022 | 3 | 3 | 0 | |
| 2023 | 3 | 2 | -1 | |
| Total Outlets | 2021 | 108 | 110 | +2 |
| 2022 | 110 | 110 | 0 | |
| 2023 | 110 | 108 | -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, at the end of the fiscal year 2023, which concluded on December 31, 2023, Golden Krust Caribbean Restaurant had a total of 2 company-owned outlets. This is a decrease of 1 outlet compared to the start of the year.
This information is crucial for prospective franchisees as it provides insight into the operational structure of Golden Krust Caribbean Restaurant, specifically the balance between franchised and company-owned locations. Understanding the number of company-owned stores can give potential franchisees an idea of the direct involvement and investment the franchisor has in the brand's operations.
The document also indicates that there was a net change of -1 company-owned restaurant during 2023. Monitoring these changes over time can reveal trends in the company's growth strategy, such as a shift towards more franchised locations or a reduction in corporate-owned stores. This data, combined with the performance metrics of both franchised and company-owned stores, can help a prospective franchisee assess the overall health and direction of the Golden Krust Caribbean Restaurant franchise system.
It is important to note that the number of company-owned stores can influence various aspects of the franchise system, including brand standards, training programs, and overall support for franchisees. A significant presence of company-owned stores may indicate a strong commitment from the franchisor to maintain quality and consistency across the brand.