How many Management Recruiters outlets were operating in Minnesota at the end of 2023?
Management_Recruiters Franchise · 2024 FDDAnswer from 2024 FDD Document
| 1 | Dogganir | Ceased | ||||||
|---|---|---|---|---|---|---|---|---|
| Outlets at | Reacquir ed by | Operatio | Outlets at | |||||
| Start of | Outlets | Termin- | Non- | Franchiso | ns - Other | |||
| State | Year | Year | Opened | ations | Renewals | r | Reasons | Year |
| 2021 | 10 | 0 | 0 | 0 | 0 | 1 | 9 | |
| 2022 | 9 | 0 | 0 | 0 | 0 | 0 | 9 | |
| Michigan | 2023 | 9 | 0 | 0 | 1 | 0 | 0 | 8 |
| 2021 | 3 | 0 | 0 | 0 | 0 | 0 | 3 | |
| 2022 | 3 | 0 | 0 | 0 | 0 | 0 | 3 | |
| Minnesota | 2023 | 3 | 0 | 0 | 0 | 0 | 0 | 3 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 58–65)
What This Means (2024 FDD)
According to Management Recruiters' 2024 Franchise Disclosure Document, there were 3 franchise outlets operating in Minnesota at the end of 2023. The table provided in Item 20 of the FDD details the status of franchised outlets for the years 2021, 2022, and 2023, broken down by state. For Minnesota, the table shows the number of outlets at the start of the year, outlets opened, terminations, non-renewals, outlets reacquired by the franchisor, outlets that ceased operations for other reasons, and the number of outlets at the end of the year.
Specifically, for Minnesota in 2023, there were 3 outlets at the start of the year, no outlets opened, no terminations, no non-renewals, no outlets reacquired by the franchisor, and no outlets ceasing operations for other reasons. This resulted in 3 Management Recruiters franchise outlets operating in Minnesota at the end of 2023.
This information is crucial for prospective franchisees as it provides a snapshot of the franchise's presence and stability in a specific state. A consistent number of outlets, like in the case of Minnesota, could indicate a stable market, but it's important to investigate further into the performance and potential for growth in that area. It is also important to note that the table does not provide details on the performance or financial health of these locations.