How many Hyper Kidz franchised outlets were terminated in Maryland during 2023?
Hyper_Kidz Franchise · 2024 FDDAnswer from 2024 FDD Document
| Col 1 | Col 2 | Col 3 | Col 4 | Col 5 | Col 6 | Col 7 | Col 8 |
|---|---|---|---|---|---|---|---|
| State | Year | Outlets at Start of Year | Outlets Opened | Outlets Reacquired from Franchisee | Outlets Closed | Outlets Sold to Franchisee | Outlets at End of the Year |
| Maryland | 2021 | 1 | 0 | 0 | 0 | 0 | 1 |
| 2022 | 1 | 1 | 0 | 0 | 0 | 2 | |
| 2023 | 2 | 0 | 0 | 0 | 0 | 2 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 49–52)
What This Means (2024 FDD)
According to Hyper Kidz's 2024 Franchise Disclosure Document, there were no terminations of franchised outlets in Maryland during the year 2023. The provided table, which outlines the status of franchised outlets from 2021 to 2023, indicates that in 2023, there were two outlets at the start of the year, zero terminations, and two outlets at the end of the year.
This suggests that the Hyper Kidz franchise system in Maryland remained stable during that period, with no franchise agreements being terminated. For a prospective franchisee, this could be a positive indicator of the brand's stability and the relationship between the franchisor and its franchisees in Maryland.
However, it is important to note that this data only reflects terminations and does not account for other reasons why a franchise might cease operations, such as non-renewals or mutual agreements to end the franchise term. Reviewing the broader context of franchise relationships and performance is advisable.