What were 360 Painting's franchise support expenses in 2024?
360_Painting Franchise · 2025 FDDAnswer from 2025 FDD Document
Exhibit B to this disclosure document contains the audited consolidated financial statements of our affiliate, Premium Service Brands, LLC and Subsidiaries, as of and for the years ended December 31, 2024, December 31, 2023 and December 31, 2022.
Our separate financial statements are not included in this disclosure document. Should we fail to fulfill our duties and obligations to our franchisees under their franchise agreements, Premium Service Brands, LLC absolutely and unconditionally guaranteesto assume those duties and obligations. Copies of the Guarantees of Performance by Premium Service Brands, LLC are included in Exhibit B.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 56)
What This Means (2025 FDD)
According to the 2025 FDD, specific details regarding 360 Painting's franchise support expenses for 2024 are not explicitly detailed. However, the FDD does state that Exhibit B contains the audited consolidated financial statements of Premium Service Brands, LLC and Subsidiaries, as of and for the years ended December 31, 2024, December 31, 2023 and December 31, 2022. Premium Service Brands, LLC absolutely and unconditionally guarantees to assume those duties and obligations to 360 Painting franchisees should 360 Painting, LLC fail to fulfill them.
While the financial statements are included, the FDD does not break down the specific expenses related to franchise support. Instead, it focuses on the overall financial health and guarantees provided by Premium Service Brands, LLC. The FDD mentions the Marketing Fund and how contributions are used for advertising and marketing efforts to benefit all 360 Painting businesses. These funds can cover various costs, including salaries, overhead, and the development of advertising materials.
To gain a clearer understanding of 360 Painting's franchise support expenses, a prospective franchisee should request a detailed breakdown of these expenses from the franchisor. This information would provide valuable insight into how the franchise fees and marketing contributions are allocated and what specific support services franchisees can expect.