What was the amount of Benjamin Franklin Plumbing's franchise support expenses in 2023?
Benjamin_Franklin_Plumbing Franchise · 2025 FDDAnswer from 2025 FDD Document
| As of December 31, | ||||
|---|---|---|---|---|
| 2024 | 2023 | |||
| Assets | ||||
| Current assets | ||||
| Cash and cash equivalents | $ | 46,193 | $ | 27,119 |
| Restricted cash | 5,631 | 3,314 | ||
| Accounts receivable, net | 34,962 | 33,238 | ||
| Inventory, net | 7,201 | 6,548 | ||
| Prepaid expenses and other current assets | 9,227 | 12,575 | ||
| Total current assets | 103,214 | 82,794 | ||
| Property and equipment, net | 34,635 | 56,407 | ||
| Operating lease right-of-use assets | 13,787 | 15,144 | ||
| Intangible assets, net | 390,904 | 437,885 | ||
| Goodwill, net | 357,205 | 414,349 | ||
| Other assets | 15,968 | 14,422 | ||
| Total assets | $ | 915,713 | $ | 1,021,001 |
| Liabilities and Stockholder's Equity | ||||
| Current liabilities | ||||
| Accounts payable | $ | 6,803 | $ | 9,980 |
| Accrued and other liabilities | 38,396 | 27,562 | ||
| Deferred revenue | 15,748 | 17,189 | ||
| Operating lease liabilities, current portion | 4,193 | 5,070 | ||
| Current maturities on long-term debt | 4,250 | 4,250 | ||
| Total current liabilities | 69,390 | 64,051 | ||
| Operating lease liabilities, non-current portion | 10,396 | 11,077 | ||
| Long-term debt, net | 551,538 | 550,949 | ||
| Deferred tax liability, net | 5,577 | 17,766 | ||
| Other long-term liabilities | 42,175 | 38,957 | ||
| Total liabilities | 679,076 | 682,800 | ||
| Stockholder's equity | 236,637 | 338,201 | ||
| Total liabilities and stockholder's equity | $ | 915,713 |
Source: Item 22 — CONTRACTS (FDD pages 87–88)
What This Means (2025 FDD)
According to Benjamin Franklin Plumbing's 2025 Franchise Disclosure Document, the franchise support expenses for the year 2023 were $114,923. This figure represents the costs Benjamin Franklin Plumbing incurred to support its franchise system. These expenses can include items such as training, marketing assistance, operational support, and technology development.
Understanding the trend in franchise support expenses can be valuable for potential franchisees. An increasing trend might indicate that Benjamin Franklin Plumbing is investing more in its franchisees, potentially leading to better support and resources. Conversely, a decreasing trend could raise concerns about the level of support franchisees can expect.
It is important to note that franchise support expenses are just one aspect of the overall financial picture. Prospective franchisees should also consider other factors such as franchise fees, royalties, and marketing contributions when evaluating the financial viability of a Benjamin Franklin Plumbing franchise. Reviewing these expenses in relation to the revenues can provide a more comprehensive understanding of the franchise's financial health.