How much did Bb.Q Chicken pay in income taxes in 2024?
Bb_Q_Chicken Franchise · 2025 FDDAnswer from 2025 FDD Document
dated Statements of Income and Deficit December 31, 2024 and 2023
| 2024 | 2023 | |
|---|---|---|
| REVENUE | ||
| Service and fee revenues | $ 15,720,302 | $ 9,238,838 |
| Product sales (Note 14) | 63,180,448 | 49,680,268 |
| Total Revenue | 78,900,750 | 58,919,106 |
| COST OF SALES | ||
| Inventories - beginning | 6,786,479 | 5,216,192 |
| Purchases (Note 9) | 46,049,707 | 36,788,575 |
| Duties & freight-in | 3,320,658 | 3,536,677 |
| 56,156,844 | 45,541,444 | |
| Inventories - ending | (5,708,945) | (6,786,479) |
| Total Cost of Sales | 50,447,899 | 38,754,965 |
| GROSS PROFIT FROM SALES | 28,452,851 | 20,164,141 |
| OPERATING EXPENSES - Schedule | (28,261,777) | (20,127,682) |
| INCOME FROM OPERATION | 191,074 | 36,459 |
| OTHER INCOME & EXPENSES | ||
| Interest income (interest expenses) | (101,937) | (118,205) |
| Miscellaneous | (49,966) | 214,437 |
| Total Other Income & Expenses | (151,902) | 96,232 |
| INCOME BEFORE PROVISION FOR INCOME TAX | 39,172 | 132,691 |
| PROVISION FOR INCOME TAX (Note 2) | (90,301) | (24,803) |
| Net loss | (51,129) | 107,888 |
| REATAINED DEFICIT - beginning | (3,554,585) | (3,662,47 |
Source: Item 23 — RECEIPTS (FDD pages 62–283)
What This Means (2025 FDD)
According to Bb.Q Chicken's 2025 Franchise Disclosure Document, the company's provision for income tax in 2024 was $90,301. This figure reflects the amount Bb.Q Chicken allocated to cover its income tax liabilities for that year.
For a prospective franchisee, this information provides insight into the financial performance and tax obligations of Bb.Q Chicken. Understanding the franchisor's tax management can be helpful in assessing the overall financial health and stability of the company. It's important to note that this figure represents the company's tax provision, which may differ from the actual taxes paid due to various accounting and tax regulations.
Reviewing the franchisor's financial statements, including the income tax provision, is a standard practice in franchise due diligence. Franchisees should consult with financial advisors to fully understand the implications of these figures and how they relate to the overall franchise opportunity. This information, combined with other financial data in the FDD, can help potential franchisees make informed decisions about investing in a Bb.Q Chicken franchise.