What was the net change in the number of total Southern Steer outlets from the beginning to the end of 2024?
Southern_Steer Franchise · 2025 FDDAnswer from 2025 FDD Document
| Outlet Type | Year | of Year | of Year | Net Change |
|---|---|---|---|---|
| 2022 | 1 | 2 | +1 | |
| Franchised | 2023 | 2 | 3 | +1 |
| 2024 | 3 | 6 | +3 | |
| 2022 | 1 | 1 | 0 | |
| Company-Owned* | 2023 | 1 | 1 | 0 |
| 2024 | 1 | 1 | 0 | |
| 2022 | 2 | 3 | +1 | |
| Total Outlets | 2023 | 3 | 4 | +1 |
| 2023 | 4 | 7 | +3 |
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, the total number of outlets experienced a net increase of three locations during 2024. The total number of Southern Steer outlets at the start of 2024 was three, and by the end of the year, this number had increased to six. This growth is solely attributed to franchised locations, as the number of company-owned outlets remained constant at one throughout the year.
Specifically, for franchised outlets, Southern Steer began 2024 with three locations and ended the year with six, reflecting the addition of three new franchised businesses. The company-owned outlets remained stable, starting and ending the year with one location. This indicates that all growth in 2024 came from the expansion of franchised operations rather than corporate-owned stores.
For a prospective franchisee, this data suggests that Southern Steer is actively expanding its franchise network. The absence of company-owned growth may indicate a strategic focus on franchising as the primary means of expansion. A potential franchisee might want to inquire about the support and resources Southern Steer provides to new franchisees to facilitate this growth, as well as the overall strategic vision for balancing franchised and company-owned locations in the future.