What was the amount of employee retention credits for All Team in 2023?
All_Team Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | |
|---|---|---|
| OTHER INCOME (EXPENSES) | ||
| Provision for credit losses | (6,000) | (6,000) |
| Interest income | 98,262 | 53,501 |
| Employee retention credits | - | 49,780 |
| Miscellaneous income (expense) | 393,080 | 462,574 |
| Total Other Income (Expenses) | 485,342 | 559,855 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 33)
What This Means (2025 FDD)
According to All Team's 2025 Franchise Disclosure Document, the company received $49,780 in employee retention credits in 2023. These credits were established under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) in March 2020 to help businesses retain employees during the pandemic.
For a prospective All Team franchisee, this indicates that the franchisor was able to leverage government assistance programs to support its operations during challenging economic times. This may reflect positively on the company's financial management and its ability to navigate economic uncertainty.
However, it's important to note that these credits were a one-time benefit related to the pandemic. The FDD indicates that All Team received $0 in employee retention credits in 2024, so franchisees should not expect this to be a recurring source of income for the company. Franchisees should focus on the standard revenue streams and operating expenses when evaluating the financial performance of All Team.