What were the bank service charges for Bevaris Alliance in 2022?
Bevaris_Alliance Franchise · 2024 FDDAnswer from 2024 FDD Document
The Company maintains a credit card with a credit card provider. The aggregate credit limit for this credit card is $20,000. Interest on the credit card is 25.99% per annum. The balance due at December 31, 2023 and 2022 is $5,997 and $2,924, respectively.
The Company maintains a line of credit in the amount of $40,000 with a finance company. Interest on the line of credit is 59.9% per annum. Line of credit activity during 2023 included advances of $2,000 and payments of $1,000. As of December 31, 2023, the outstanding balance on the line of credit was $1,000.
Advertising costs for 2023 and 2022 were $1,230 and $3,212, respectively.
Source: Item 23 — RECEIPT (FDD pages 22–88)
What This Means (2024 FDD)
I am unable to provide the exact bank service charges for Bevaris Alliance in 2022, as this specific figure is not disclosed in the provided excerpts from the 2024 Franchise Disclosure Document. However, the FDD does include financial statements and notes that detail various expenses and financial activities of the company. These include information on credit card balances, interest rates, advertising costs, and other operational expenses.
Specifically, the document mentions that the company maintains a credit card with a $20,000 credit limit and an interest rate of 25.99% per annum. The balance due on this credit card as of December 31, 2022, was $2,924. Additionally, the company had a line of credit with a finance company with an interest rate of 59.9% per annum. Advertising costs for 2022 were $3,212.
A prospective franchisee should inquire with Bevaris Alliance about bank service charges and request a detailed breakdown of these expenses for a more comprehensive understanding of the company's financial operations. This information would be essential for assessing the overall financial health and stability of the franchise system.