What was the net income for All Team in 2022?
All_Team Franchise · 2025 FDDAnswer from 2025 FDD Document
| 832,933 | 647,362 | |
|---|---|---|
| TOTAL LIABILITIES & STOCKHOLDER'S EQUITY | $ 3,492,701 | $ 4,141,911 |
ALL TEAM FRANCHISE CORPORATION STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022
| 2023 | 2022 | |
|---|---|---|
| OPERATING REVENUES | ||
| Royalty and license fees - franchise | $ 423,870 | $ 661,052 |
| Funding and processing fees - franchise | 606,672 | 802,969 |
| Total Operating Revenues | 1,030,542 | 1,464,021 |
| OPERATING EXPENSES | ||
| Advertising - franchise | 446 | 1,186 |
| Accounting services | 20,281 | 18,370 |
| Auto expense | 30,168 | 29,327 |
| Bank and credit card fees | 668 | 654 |
| Charitable contributions | 1,122 | 100 |
| Computer/ IT | 63,258 | 55,597 |
| Dues and subscriptions | 7,317 | 5,182 |
| Professional services | 189,877 | 53,040 |
| Insurance | 28,025 | 38,303 |
| Funding fees | 98,019 | 258,432 |
| Wages, salaries and payroll benefits | 813,640 | 976,331 |
| Rent | 66,751 | 63,738 |
| Office supplies and expense | 15,351 | 11,220 |
| Postage and delivery | 713 | 2,527 |
| Equipment lease | 15,708 | 16,250 |
| Telephone and utilities | 12,609 | 17,975 |
| Licenses, permits and taxes | 242 | 1,717 |
| Miscellaneous | 1,850 | 233 |
| Travel and entertainment | 22,408 | 3,333 |
| Total Operating Expenses | 1,388,453 | 1,553,515 |
| LOSS FROM OPERATIONS | (357,911) | (89,494) |
| OTHER INCOME (EXPENSES) | ||
| Provision for credit losses | (6,000) | (6,000) |
| Interest inco |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 33)
What This Means (2025 FDD)
According to All Team's 2025 Franchise Disclosure Document, the net income for the company in 2022 was $224,177. This figure represents the profit All Team retained after deducting all operating expenses, other expenses, and applicable losses from its total operating revenues and other income sources during that year.
Specifically, All Team's operating revenues in 2022 totaled $1,464,021, derived from royalty and license fees ($661,052) and funding/processing fees ($802,969) from its franchise operations. However, the company also incurred substantial operating expenses, amounting to $1,553,515, which included significant costs such as wages, salaries, and payroll benefits ($976,331) and funding fees ($258,432). This resulted in a loss from operations of $89,494.
Despite the operating loss, All Team managed to achieve a net income of $224,177 due to other income and expense items. These included a provision for credit losses of $6,000, interest income of $25,733, and miscellaneous income of $293,938, resulting in total other income of $313,671. The combination of the operating loss and other income resulted in the reported net income for 2022.
Prospective franchisees should consider All Team's financial performance, including both revenues and expenses, over multiple years to understand the company's profitability trends and the factors influencing its net income. Understanding these trends can help franchisees assess the financial stability and potential risks associated with investing in an All Team franchise.