What was the comprehensive income/loss for Benjamin Franklin Plumbing as of December 31, 2021?
Benjamin_Franklin_Plumbing Franchise · 2025 FDDAnswer from 2025 FDD Document
The Company recognized revenue of $8,544, $7,982 and $3,681 for amortization of initial franchise fees for the years ended December 31, 2024, 2023 and 2022 in franchise sales fees on the consolidated statements of comprehensive loss. The Company recognized revenue of $13,797, $9,523 and $8,101 for amortization of service plans for the years ended December 31, 2024, 2023 and 2022 in residential services on the consolidated statements of comprehensive loss.
The Company recognized $1,917, $1,957 and $689 of commission costs in franchise sales expenses on the consolidated statements of comprehensive loss for the years ended December 31, 2024, 2023 and 2022.
During the years ended December 31, 2024, 2023 and 2022, the Company recognized bad debt expense of $3,577, $3,123 and $1,637 and had write-offs of uncollectible accounts of $1,489, $536 and $403, respectively.
NAF expenses for the years ended December 31, 2024, 2023 and 2022 were $14,550, $15,854, and $15,008, respectively.
For the years ended December 31, 2024, 2023 and 2022, $21,798, $23,009, and $16,970, respectively, were expensed in the consolidated statements of comprehensive loss.
The Company recognized $11,820, $10,441 and $9,913 of revenue from product sales for the years ended December 31, 2024, 2023 and 2022, respectively, in other revenues on the consolidated statements of comprehensive loss.
Source: Item 22 — CONTRACTS (FDD pages 87–88)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, information regarding Benjamin Franklin Plumbing's comprehensive income or loss as of December 31, 2021, is not explicitly provided. However, the document does include components that factor into the comprehensive income/loss calculation.
Specifically, the FDD mentions several revenue streams and expenses. For instance, it states that in 2022, Benjamin Franklin Plumbing recognized $3,681 in revenue from amortization of initial franchise fees, $8,101 from amortization of service plans, and $9,913 from product sales. Commission costs of $689 were recognized in franchise sales expenses. Additionally, bad debt expense was $1,637, and NAF advertising expenses totaled $15,008, while non-NAF advertising expenses were $16,970. These figures offer insight into specific revenue and expense categories, but they do not provide the total comprehensive income or loss.
To gain a clear understanding of Benjamin Franklin Plumbing's financial performance, a prospective franchisee should directly request the complete consolidated statements of comprehensive income/loss from the franchisor for the relevant periods. This will provide a holistic view of the company's profitability and financial health.