How much did Benjamin Franklin Plumbing spend on employee expenses in 2024?
Benjamin_Franklin_Plumbing Franchise · 2025 FDDAnswer from 2025 FDD Document
ted by Monster, management has estimated the fair value of consideration to be received at $0. The Company recognized a loss on sale of $10,276 on the consolidated statements of comprehensive loss during the year ended December 31, 2024. The loss on sale recognized represents the difference between the carrying value and estimated fair value of the net assets sold with Monster business. All net assets sold with the Monster entity were derecognized from the consolidated balance sheet and recognized as part of loss on sale of retail on the consolidated statements of comprehensive loss. The net assets derecognized primarily related to goodwill and property and equipment.
11. Accrued and Other Liabilities
Accrued and other liabilities consisted of the following as of December 31, 2024 and 2023:
| 2024 | 2023 | |
|---|---|---|
| Employee expenses | $ 10,701 | $ 4,174 |
| Rebates | 3,847 | 2,938 |
| Accrued interest | 5,138 | 5,439 |
| Advertising | 4,024 | 4,972 |
| Capital expenditures | 95 | 770 |
| Finance lease obligations | 4, |
Source: Item 22 — CONTRACTS (FDD pages 87–88)
What This Means (2025 FDD)
According to Benjamin Franklin Plumbing's 2025 Franchise Disclosure Document, two different figures are provided for employee expenses in 2024. One table indicates employee expenses of $10,701, while another table shows $770 for the same year.
It is important to note that the FDD does not specify what these tables represent or what the difference between them is. A prospective franchisee should clarify with Benjamin Franklin Plumbing the context and scope of each table to understand which figure is relevant to their potential franchise operation. Understanding these expenses is crucial for accurate financial planning and assessing the profitability of a Benjamin Franklin Plumbing franchise.
Without further clarification, it is difficult to determine which figure accurately reflects the typical employee expenses a new franchisee might incur. This discrepancy highlights the importance of thorough due diligence and direct communication with the franchisor to obtain a clear understanding of all financial aspects of the franchise opportunity.