What was the net income for Basecamp Fitness in 2022 (in thousands of US dollars)?
Basecamp_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
-----------------------------------------------------------------|--------------------------------------------------| | Contributions | 786 | | Net loss | (786) | | Balance at December 31, 2022 | 5,000,021 | | Contributions | 430 | | Net loss | (451) | | Balance at December 31, 2023 | 5,000,000 | | Contributions | $ 9,750 | | Distributions | (196,144) | | Net income | 186,394 | | Balance at December 31, 2024 | 5,000,000 |
SEB Franchising Guarantor LLC Statements of Cash Flows Years Ended December 31, 2024, 2023 and 2022
| (in thousands of US dollars) | 2024 | 2023 2022 | |
|---|---|---|---|
| Revenues | |||
| Franchise royalties | $ 145,245 $ 61,387 | $ 58,105 | |
| Franchise fees | 20,063 | 14,390 11,096 | |
| Sales | 78,248 | 41,857 42,586 | |
| Advertising fund revenue | 16,379 | 17,607 17,531 | |
| Vendor rebates | 55,950 | 47,825 42,115 | |
| Other revenues | 1,124 | 1,016 700 | |
| Total revenues | 317,009 | 184,082 172,133 | |
| Cost of goods sold | 43,354 | 18,835 18,554 | |
| Gross profit | 273,655 | 165,247 153,579 | |
| General and administrative expenses | 89,493 | 64,416 48,492 | |
| Advertising fund expense | 16,638 | 18,948 16,682 | |
| Total general, administrative, and advertising fund expense | 106,131 | 83,364 65,174 | |
| Income from operations | 167,524 | 81,883 88,405 | |
| Other (expense) income | |||
| Interest expense | (53,325) | (26,1 |
Source: Item 23 — RECEIPTS (FDD pages 62–248)
What This Means (2025 FDD)
According to Basecamp Fitness's 2025 Franchise Disclosure Document, the net income for 2022 was $60,705 (in thousands of US dollars). This figure represents the company's profit after all revenues and expenses have been accounted for during that year. A prospective franchisee can use this information to assess the financial health and profitability trends of Basecamp Fitness.
It's important to note that this net income is part of a broader financial statement that includes revenues, cost of goods sold, general and administrative expenses, and other income and expenses. The document provides a detailed breakdown of these components, allowing potential franchisees to understand the various factors contributing to the net income. For instance, in 2022, Basecamp Fitness had total revenues of $172,133 (in thousands of US dollars) and total general, administrative, and advertising fund expenses of $65,174 (in thousands of US dollars).
Furthermore, the FDD provides comparative data for 2023 and 2024, which can help in identifying trends and potential growth areas. For example, the net income increased from $54,308 in 2023 to $113,091 in 2024 (in thousands of US dollars). Analyzing these trends can offer insights into the stability and potential future performance of Basecamp Fitness. A prospective franchisee should consider these figures in conjunction with other factors, such as market conditions and the franchisor's support system, to make an informed decision.