How much did All Team spend on rent in 2024?
All_Team Franchise · 2025 FDDAnswer from 2025 FDD Document
13,036 | $ 3,492,701 |
ALL TEAM FRANCHISE CORPORATION STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023
| 2024 | 2023 | |
|---|---|---|
| OPERATING REVENUES | ||
| Royalty and license fees - franchise | $ 312,310 | $ 423,870 |
| Funding and processing fees - franchise | 430,716 | 606,672 |
| Total Operating Revenues | 743,026 | 1,030,542 |
| OPERATING EXPENSES | ||
| Advertising - franchise | 2,771 | 446 |
| Accounting services | 15,810 | 20,281 |
| Auto expense | 19,608 | 30,168 |
| Bank and credit card fees | 363 | 668 |
| Charitable contributions | 769 | 1,122 |
| Computer/ IT | 85,059 | 63,258 |
| Dues and subscriptions | 6,455 | 7,317 |
| Professional services | 163,699 | 189,877 |
| Insurance | 29,741 | 28,025 |
| Funding fees | 75,430 | 98,019 |
| Wages, salaries and payroll benefits | 743,717 | 813,640 |
| Rent | 72,893 | 66,751 |
| Office supplies and expense | 8,469 | 15,351 |
| Postage and delivery | 1,812 | 713 |
| Equipment lease | 17,074 | 15,708 |
| Telephone and utilities | 11,691 | 12,609 |
| Licenses, permits and taxes | 1,405 | 242 |
| Miscellaneous | - | 1,850 |
| Travel and entertainment | 15,130 | 22,408 |
| Total Operating Expenses | 1,271,896 | 1,388,453 |
| LOSS FROM OPERATIONS | (528,870) | (357,911) |
| OTHER INCOME (EXPENSES) | ||
| Provision for credit losses | (6,000) | (6,000) |
| Interest income | 98,262 | 53,501 |
| Employee retention credits | - | 49,780 |
| Miscellaneous income |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 33)
What This Means (2025 FDD)
According to All Team's 2025 Franchise Disclosure Document, the company's rent expense for 2024 was $72,893. This figure represents the cost All Team incurred for its operating lease during the specified year. This information is derived from the company's statements of operations, which detail revenues and expenses for the years ending December 31, 2024, and December 31, 2023.
For a prospective franchisee, understanding All Team's rent expenses can provide insight into the franchisor's financial stability and operational costs. While franchisees will be responsible for their own rent at their individual locations, this figure reflects the costs at the corporate level. Reviewing these expenses over multiple years, as presented in the statement of operations, can reveal trends and potential areas of cost management.
It's important to note that this rent expense is specifically associated with an operating lease. The FDD also includes details about the operating lease ROU (Right-of-Use) asset and related liabilities, providing a more comprehensive view of All Team's lease obligations. Franchisees should consider these figures in the context of the overall financial health of the franchisor, as detailed in the audited financial statements.
Overall, the rent expense is a component of the total operating expenses, which amounted to $1,271,896 in 2024. Understanding how rent contributes to the overall expense structure can help potential franchisees assess the financial management practices of All Team.