What was the net income for All Team 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 experienced a net loss of $43,528 in 2024. This is a notable change from 2023, when All Team reported a net income of $201,944.
The FDD provides a detailed breakdown of All Team's revenues and expenses. In 2024, All Team's total operating revenues were $743,026, while total operating expenses amounted to $1,271,896, resulting in a loss from operations of $528,870. Other income and expenses, including items like interest income and provision for credit losses, totaled $485,342.
Prospective franchisees should carefully review All Team's financial statements and consider the factors contributing to the net loss in 2024. Understanding the reasons behind the decreased net income, such as increased operating expenses or decreased revenues, is crucial for assessing the financial stability and potential profitability of an All Team franchise. It would be prudent to discuss these financial results with the franchisor to gain further insights.