How many Hyper Kidz franchise agreements have been signed in Virginia, but the outlet has not yet opened?
Hyper_Kidz Franchise · 2024 FDDAnswer from 2024 FDD Document
| State | Franchise Agreements Signed but Outlet Not Opened | Projected New Franchised Outlets in the Next Fiscal Year | Projected New Company-Owned Outlets in the Next Fiscal Year |
|---|---|---|---|
| Georgia | 2 | 2 | 0 |
| Illinois | 1 | 1 | 0 |
| Maryland | 1 | 1 | 0 |
| Texas | 1 | 1 | 0 |
| Virginia | 2 | 2 | 0 |
| Total | 7 | 7 | 0 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 49–52)
What This Means (2024 FDD)
According to the 2024 Hyper Kidz Franchise Disclosure Document, as of December 31, 2023, there were two franchise agreements signed in Virginia for which the outlet had not yet opened. This indicates that there are future Hyper Kidz locations planned for Virginia.
This figure is part of a broader overview of Hyper Kidz's franchise development across different states. The FDD also projects that two new franchised outlets will open in Virginia in the next fiscal year.
Prospective franchisees should note that having signed agreements without open outlets is a common occurrence in franchising as new owners work through the process of site selection, build-out, and training before opening their doors. It is important to inquire about the typical timeline between signing an agreement and opening, and what support Hyper Kidz provides during this pre-opening phase.