What was the total revenue for Bor Restoration in 2021?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
| 2022 | 2021 | 2020 | |
|---|---|---|---|
| ASSETS | |||
| Current Assets: | |||
| Cash | $ 513,933 | $ 204,415 | $ 185,894 |
| Accounts receivable | 105,281 | 71,657 | 45,896 |
| Prepaid expenses | 2,688 | 119,713 | |
| Total Current Assets | 621,902 | 395,785 | 231,790 |
| Non-current Assets: | |||
| Right-of-use asset, net of accumulated | - 0 - 04 | ||
| amortization of $46,569 | 79,703 | 0.010 | |
| Other assets | 32,246 | 18,218 | 8,013 |
| Total Non-current Assets | 111,949 | 18,218 | 8,013 |
| TOTAL ASSETS | $ 733,851 | $ 414,003 | $ 239,803 |
| LIABILITIES AND OWNER'S EQUITY Current Liabilities: | |||
| Accounts payable | $ 485 | $ 19 | $ 5,495 |
| Accrued expenses | 12,128 | 14,993 | 13,355 |
| Deferred revenue | 94,350 | ||
| Lease liability | 50,580 | ||
| Total Current Liabilities | 63,193 | 109,362 | 18,8 |
Source: Item 23 — Receipts (FDD pages 40–202)
What This Means (2024 FDD)
According to Bor Restoration's 2024 Franchise Disclosure Document, the revenue streams and amounts for 2021 are detailed in the provided table. In 2021, Bor Restoration's franchise fees totaled $156,000.
Additionally, the revenue from the opening franchise equipment package amounted to $314,674. These figures represent the primary sources of revenue for Bor Restoration during that year, offering insight into the company's financial performance.
Prospective franchisees can use this information to understand the revenue generation model of Bor Restoration. By examining the franchise fees and equipment package revenues, potential investors can assess the company's income streams and evaluate the overall financial health and stability of the franchise system. Understanding these revenue components is crucial for making informed decisions about investing in a Bor Restoration franchise.