What was the total amount of IT support expenses for Best Brains during January-March 2025?
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 IT Support expenses for the period of January-March 2025 was $415,492.20. This figure represents the total expenditure Best Brains incurred for IT support during the specified timeframe.
For a prospective franchisee, understanding these costs is crucial for financial planning. IT support is essential for the smooth operation of a Best Brains franchise, covering aspects like software, hardware, and network maintenance. This expense is a significant component of the overall operating costs and should be factored into the franchisee's budget.
It's important to note that this figure is from an unaudited Profit and Loss statement. Franchisees should inquire about the specific services covered under IT support and whether these costs are likely to fluctuate. Understanding the details behind this expense can help franchisees better manage their finances and ensure they have adequate resources for necessary IT infrastructure and support.