How many Southern Steer franchise agreements have been signed in Florida, but the outlets have not yet opened?
Southern_Steer Franchise · 2025 FDDAnswer from 2025 FDD Document
| State | Franchise Agreements Signed But Outlets Not Opened | Projected New Franchised Outlets in Next Fiscal Year | Projected New Company-Owned Outlets in Next Fiscal Year |
|---|---|---|---|
| Colorado | 1 | 0 | 0 |
| Florida | 3 | 2 | 0 |
| Kentucky | 0 | 1 | 0 |
| Texas | 0 | 1 | 0 |
| Totals | 4 | 4 | 0 |
Source: Item 20 — ITEM. 20 OUTLETS AND FRANCHISEE INFORMATION (FDD pages 58–61)
What This Means (2025 FDD)
According to Southern Steer's 2025 Franchise Disclosure Document, as of the date of the FDD, there were three franchise agreements signed in Florida for Southern Steer locations that had not yet opened. This means that Southern Steer has franchisees in Florida who are in the process of setting up their businesses but are not yet operational.
This information is crucial for potential franchisees as it provides insight into the current development stage of Southern Steer in Florida. Knowing that there are already signed agreements but not yet open locations can indicate market interest and growth potential. However, it also suggests that the franchisee will need to consider the time it takes to get a location up and running.
Furthermore, the FDD indicates that Southern Steer projects the opening of two new franchised outlets in Florida within the next fiscal year. This projection, combined with the existing signed agreements, suggests that Southern Steer is actively expanding its presence in Florida. Prospective franchisees should inquire about the timeline for these projected openings and understand the factors that may influence the actual opening dates.