What was the net income for the All Team franchise 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 net income for the year 2024 was a loss of $43,528. This is in contrast to the previous year, 2023, when All Team reported a net income of $201,944. This figure is derived from the audited financial statements included in the FDD. These statements provide a comprehensive overview of All Team's financial performance, including revenues, expenses, and overall profitability.
Specifically, the financial statements detail the various components contributing to All Team's net income. In 2024, total operating revenues amounted to $743,026, while total operating expenses reached $1,271,896, resulting in a loss from operations of $528,870. However, other income and expenses, including interest income and miscellaneous income, totaled $485,342, partially offsetting the operating loss. The net result was a net loss of $43,528 for the year.
Prospective franchisees should carefully review these financial statements to understand the financial health and performance trends of All Team. While the 2023 figures show a net income, the 2024 figures reveal a net loss. Understanding the reasons behind this change, such as increased operating expenses or decreased revenues, is crucial for making an informed investment decision. It's also important to compare these figures with industry benchmarks and to conduct thorough due diligence to assess the potential risks and rewards of investing in an All Team franchise.