What was the net income for Basecamp Fitness in 2024 (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 exp |
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 2024 was $113,091 (in thousands of US dollars). The FDD also provides the net income for the two previous years, with $54,308 in 2023 and $60,705 in 2022. This information is crucial for potential franchisees as it provides a clear picture of the brand's profitability over the past three years.
Analyzing the net income trend helps prospective franchisees understand the financial stability and growth trajectory of Basecamp Fitness. A consistent increase in net income, as seen from 2023 to 2024, may indicate a healthy and expanding business model. However, it's important to consider other factors, such as revenue, expenses, and market conditions, to get a comprehensive understanding of the company's financial performance.
It is also important to note that these figures represent the net income for the entire Basecamp Fitness Franchisor LLC, not the net income for an individual franchise location. A prospective franchisee should review Item 19 in the FDD, which may provide financial performance representations for individual franchise locations. Additionally, a potential franchisee should conduct their own independent research and consult with a financial advisor to assess the potential profitability of a Basecamp Fitness franchise.