What was the bank service charge expense for Best Brains?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
ncome Tax Payable | | | Total for Other Current Liabilities | $308,759.83 | | Total for Current Liabilities | $4,811,427.46 | | Long-term Liabilities | | | Ally Auto | | | Auto Finance GMC | | | Auto Finance HEV | 82,568.98 | | Chase Auto Finance - REV | 60,687.75 | | Chase-CTruck | 94,364.53 | | Deferred Franchise Revenue - LongTerm | 402,161.01 | | EIDL Loan | 150,000.00 | | Finance Ford E-Transit Cargo | 29,163.68 | | Finance Ford F150 | | | Ford Motor Credit | | | KIA Finance | | | Wells Fargo Tesla | | | Total for Long-term Liabilities | $818,945.95 | | Total for Liabilities | $5,630,373.41 | | Equity | | | Retained Earnings | 556,782.47 | | Net Income | 8,842.18 | | Additional Paid in Capital | 121,375.00 | | Capital Stock | 1,000.00 | | Members Draw | -518,020.00 | | Opening Balance Equity | | | Total for Equity | $169,979.65 | | Total for Liabilities and Equity | $5,800,353.06 |
Profit and Loss
Best Brains Inc
Unaudited
January-March, 2025
| DISTRIBUTION ACCOUNT | TOTAL |
|---|---|
| Income | |
| Advertising | 132,455.01 |
| Franchise Sales | 14,100.00 |
| Gain on sale of assets | 14,960.00 |
| Material Charges | 679,021.66 |
| Miscellaneous income | 10,028.40 |
| Online Registrations | 329.00 |
| Royalties | 1,223,628.46 |
| Service/Fee Inc |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Best Brains' 2025 Franchise Disclosure Document, the bank service charge expense for the company was $17,538.82. This figure represents the total expenses incurred by Best Brains for bank services during the specified period.
For a prospective franchisee, understanding this expense is crucial for assessing the overall financial health and operational costs of Best Brains. Bank service charges are a normal part of doing business, but the amount can vary based on the volume of transactions, the types of accounts, and the specific banking services used.
This information is helpful for a potential franchisee to understand the types of expenses that the franchisor incurs. While the franchisee will not be directly responsible for these expenses, understanding the franchisor's expenses can provide insight into the overall financial management of Best Brains.