How many company-owned offices did Management Recruiters have as of December 31, 2023?
Management_Recruiters Franchise · 2024 FDDAnswer from 2024 FDD Document
At December 31, 2023 HQI had one company-owned office, which is the Philadelphia location acquired in the Dubin acquisition. At December 31, 2022 HQI had two company-owned offices, which were the staffing division acquired in the Dental Power acquisition and the Philadelphia location acquired in the Dubin acquisition. Activity from these locations are classified as held-for-sale and reported as discontinued operations.
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 65–66)
What This Means (2024 FDD)
According to Management Recruiters' 2024 Franchise Disclosure Document, as of December 31, 2023, Management Recruiters had one company-owned office. This office is the Philadelphia location, which was acquired in the Dubin acquisition.
It's worth noting that Management Recruiters also had company-owned offices in the past. As of December 31, 2022, Management Recruiters had two company-owned offices, including the staffing division acquired in the Dental Power acquisition and the Philadelphia location acquired in the Dubin acquisition. However, these locations were classified as held-for-sale and reported as discontinued operations.
The fact that Management Recruiters operates company-owned offices, even if they are held-for-sale, indicates that the company has experience running its own staffing and recruiting businesses. This could be beneficial for franchisees as they can potentially learn from the company's direct operational experience. However, the company's strategy of holding these offices for sale also suggests that its primary focus is on franchising rather than direct operation.