What was the gross revenue for the All States M.E.D. location in Miami Lakes, FL in 2022?
All_States_M_E_D Franchise · 2024 FDDAnswer from 2024 FDD Document
| Miami Lakes, FL 2022 | |
|---|---|
| Gross Revenue | $832,521 |
| Less Expense Adjustments that would be incurred | |
| if this were a franchised outlet: | |
| Royalties (8%) | ($66,602) |
| Local Advertising (greater of $12,000 or 2% of | ($16,650) |
| Gross Revenues) | |
| --- | --- |
| Total Franchisee Expenses | ($83,252) |
Source: Item 19 — FINANCIAL PERFORMANCE REPRESENTATIONS (FDD pages 39–42)
What This Means (2024 FDD)
According to All States M.E.D.'s 2024 Franchise Disclosure Document, the gross revenue for the affiliate company store in Miami Lakes, FL in 2022 was $832,521. This figure represents the total revenue earned by the store, both online and at the physical location, within a territory of approximately 1,494,236 people around the store.
It's important to note that this is the gross revenue for an affiliated company store, not a franchised outlet. The FDD includes adjustments to this gross revenue to reflect expenses a franchisee would incur, such as royalties (8% of gross revenues) and local advertising (the greater of 2% of gross revenues or $1,000 per month). These adjustments are provided to give prospective franchisees an idea of potential earnings after these expenses.
The FDD also emphasizes that there are operational differences between the company outlet and a franchised outlet. The company outlet has been operating since 2015 and operates a nationwide website. However, the financial performance representation only includes sales within a specific territory size around the store, similar to how a franchisee's territory would be defined. All States M.E.D. also states that one (1) outlet out of the one (1) outlet, or 100%, attained or surpassed the stated result in the table above.
Prospective franchisees should be aware that the financial performance representation figures do not reflect all the costs of sales, operating expenses, or other costs that must be deducted to determine net income or profit. All States M.E.D. encourages prospective franchisees to conduct their own independent investigation of the costs and expenses they will incur. The FDD also states that individual results may differ, and there is no assurance that a franchisee will earn as much as the figures presented.