What was the net income for Brightstar Care in the fiscal year ended 2023?
Brightstar_Care Franchise · 2025 FDDAnswer from 2025 FDD Document
| December 29, | December 31, | |
|---|---|---|
| Fiscal year ended | 2024 | 2023 |
| Revenues | ||
| Royalty fees | $ 39,544,068 | $ 36,830,410 |
| General marketing fund fees | 13,745,282 | 13,476,528 |
| System fees | 5,432,681 | 5,044,124 |
| Initial franchisee fees | 1,647,499 | 610,231 |
| Other | 1,766,470 | 807,476 |
| Total Revenues | 62,136,000 | 56,768,769 |
| Expenses | ||
| Payroll and related expenses | 19,888,821 | 19,106,713 |
| Marketing | 11,068,942 | 10,787,667 |
| Professional fees | 2,876,622 | 3,389,967 |
| Travel and meals | 856,891 | 1,541,227 |
| Depreciation and amortization expense | 2,846,570 | 1,992,427 |
| Occupancy and office expense | 779,543 | 752,152 |
| IT services | 2,335,296 | 1,618,895 |
| Insurance expense | 377,222 | 350,269 |
| Bad debt expense | 810,260 | 344,476 |
| Broker fees | 3,425 | 80,980 |
| Miscellaneous expenses | 427,180 | 596,575 |
| Total Expenses | 42,270,772 | 40,561,348 |
| Other Income (Expense) | ||
| Other income – employee retention credit | - 1,781,020 | |
| Other expense | (7,517) | (66,015) |
| Total Other Income (Expense) | (7,517) | 1,715,005 |
| Net Income | 19,857,711 | 17,922,426 |
| Less: net loss attributable to the non-controlling interest | (2,984,141) | (1,766,408) |
| Net Income Attributable to BrightStar Franchising, LLC | $ 22,841,852 | $ 19,688,834 |
Source: Item 23 — RECEIPTS (FDD pages 118–387)
What This Means (2025 FDD)
According to Brightstar Care's 2025 Franchise Disclosure Document, the net income for the fiscal year ended December 31, 2023, was $17,922,426. This figure represents the company's profit after deducting all expenses from its total revenues. Additionally, the net income attributable to BrightStar Franchising, LLC was $19,688,834 after accounting for a net loss attributable to the non-controlling interest of $1,766,408.
For a prospective franchisee, understanding Brightstar Care's net income can provide insight into the financial health and stability of the franchisor. A strong net income suggests that the company is well-managed and has a profitable business model. This can be reassuring for franchisees who are investing in the brand and relying on the franchisor's support and guidance.
It's important to note that while the net income provides a snapshot of the company's overall profitability, it does not necessarily reflect the financial performance of individual franchise locations. Factors such as location, local market conditions, and the franchisee's management skills can all impact the profitability of a specific Brightstar Care franchise. Franchisees should conduct their own due diligence and financial analysis to determine the potential profitability of their investment.
Furthermore, the FDD also details various revenue streams and expenses that contribute to the net income. For the fiscal year ended December 31, 2023, Brightstar Care's total revenues were $56,768,769, which included royalty fees of $36,830,410, general marketing fund fees of $13,476,528, system fees of $5,044,124, initial franchisee fees of $610,231 and other revenues of $807,476. Total expenses amounted to $40,561,348, encompassing payroll and related expenses, marketing, professional fees, travel and meals, depreciation and amortization, occupancy and office expenses, IT services, insurance, bad debt, broker fees, and miscellaneous expenses. Reviewing these figures can provide a more comprehensive understanding of Brightstar Care's financial performance and the various factors that influence its profitability.