What was the total number of Golden Krust Caribbean Restaurant outlets at the end of 2022?
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, the total number of outlets at the end of 2022 was 110. This number includes both franchised and company-owned locations. Specifically, there were 107 franchised outlets and 3 company-owned outlets.
For a prospective franchisee, this indicates the overall size and stability of the Golden Krust Caribbean Restaurant system. A larger number of total outlets can suggest a more established brand with greater market presence. However, it's important to note that while the total number of outlets remained constant from the start to the end of 2022, the numbers decreased in 2023.
It is important for potential franchisees to investigate the reasons behind any closures or non-renewals. Understanding the dynamics of outlet changes can provide valuable insights into the health and sustainability of a Golden Krust Caribbean Restaurant franchise. This information, combined with conversations with current and former franchisees, can help in making an informed investment decision.