What were 360 Painting's franchise sales expenses in 2023?
360_Painting Franchise · 2025 FDDAnswer from 2025 FDD Document
eferred revenue, noncurrent | 12,809,637 | 10,901,598 | | Total liabilities | 40,685,068 | 31,458,933 | | Members' deficit | (5,185,319) | (3,701,440) | | Total liabilities and members' deficit | 35,499,749 | $ 27,757,493 | | $ | | |
Premium Service Brands, LLC Consolidated Statements of Operations For the Years Ended December 31, 2023 and 2022
| 2023 | 2022 | |
|---|---|---|
| Revenues | ||
| Franchise service fees | $ 17,385,428 $ | 15,264,829 |
| Franchise sales fees | 4,940,724 | 5,651,579 |
| Other revenues | 1,266,744 | 1,028,652 |
| Total revenues | 23,592,896 | 21,945,060 |
| Costs and expenses | ||
| Franchise support expenses | 9,990,315 | 8,680,470 |
| Franchise sales expenses | 5,579,325 | 5,573,085 |
| General and administrative expenses | 4,444,841 | 3,697,732 |
| Tran |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 56)
What This Means (2025 FDD)
According to the 2025 FDD, 360 Painting's franchise sales expenses in 2023 were $5,579,325. This figure reflects the costs 360 Painting incurred to sell franchises during that year. Franchise sales expenses remained relatively stable, as in 2022, these expenses were $5,573,085.
For a prospective franchisee, this indicates the level of investment 360 Painting is willing to make in attracting new franchisees. A higher number could suggest more extensive marketing and recruitment efforts, while a lower number might indicate a more conservative approach. The consistency between 2022 and 2023 suggests a stable strategy in franchise sales.
It's important to note that these expenses are part of the overall costs and expenses for Premium Service Brands, LLC and Subsidiaries, the affiliate of 360 Painting, LLC. These figures are consolidated, meaning they represent the total for the entire group, not just the 360 Painting brand. Reviewing these financial statements can provide insight into the financial health and stability of the overall organization supporting the 360 Painting franchise system.