What was the average EBITDA for Amorino stores in 2023?
Amorino Franchise · 2025 FDDAnswer from 2025 FDD Document
Disclosure Document –April 24, 2025 Page 68 of 80*
| Payroll | $265,289 | 24.5% | 9/16 | $93,334 | 14.3% | |---|---|---|---|---|---| | Occupancy | $138,706 | 12.8% | 10/16 | $89,196 | 13.6% | | Marketing & | $3,226 | 0.3% | 9/16 | $3,183 | 0.5% | | Advertising | | | | | | | Other | $158, 849 | 14.7% | 9/16 | $122,926 | 18.8% | | Expenses | | | | | | | Interest | $8, 183 | 0.8% | 10/16 | $16,827 | 2.6% | | Expense | | | | | | | Depreciation | $19, 551 | 1.8% | 10/16 | 0 | 0.0% | | & Amort. | | | | | | | Taxes | $7,155 | 0.7% | 10/16 | $626 | 0.1% | | Total | $600, 959 | 55.6% | 9/16 | $326,093 | 49.8% | | Expense | | | | | | | Net Income | 134, 504 | 12.4% | 9/16 | $120,067 | 18.3% | | Add backs | | | | | | | to Net | | | | | | | Income to | | | | | | | Calculate | | | | | | | EBITDA: | | | | | | | Interest | $8, 183 | | 10/16 | $16,827 | 2.6% | | Expense | | | | | | | Depreciation | $19, 551 | | 10/16 | 0 | 0.0% | | & Amort. | | | | | | | Taxes | $7, 155 | | 10/16 | $626 | 0.1% | | EBITDA | $169, 393 | | 15.7% | $137,520 | 21.0% | ![]
Source: Item 19 — FINANCIAL PERFORMANCE REPRESENTATIONS (FDD pages 68–73)
What This Means (2025 FDD)
According to Amorino's 2025 Franchise Disclosure Document, the average EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for Amorino stores in 2023 was $169,393. This figure is based on data from a subset of stores that were open and operating for at least 12 months as of December 31, 2023. It's important to note that this average is calculated before accounting for interest expenses, depreciation, and amortization, which can vary significantly depending on how a franchisee finances their business.
The FDD also indicates that the median EBITDA for these stores was $137,520. The average EBITDA represented 15.7% of net revenues, while the median EBITDA was 21.0% of net revenues. These figures are derived from adding back interest expense ($8,183), depreciation ($19,551), and taxes ($7,155) to the net income of $134,504. These add backs are important because they isolate the operational profitability of the stores before accounting for financial and accounting decisions.
It is crucial for prospective franchisees to understand that these are averages, and individual results may differ. The FDD explicitly states, "Some outlets have earned this amount. Your individual results may differ. There is no assurance that you'll sell as much." Amorino recommends that potential franchisees conduct their own independent investigation and consult with financial advisors to determine if the franchise is a viable investment for them. The written substantiation for the financial performance representation will be made available to a prospective franchisee upon reasonable request.