What were the general and administrative expenses for Buildingstars in 2024?
Buildingstars Franchise · 2025 FDDAnswer from 2025 FDD Document
86,511 | | Retained earnings | 2,302,263 | 2,930,029 | 2,016,751 | | | 3,689,274 | 4,317,040 | 3,403,762 | | | $ 14,462,992 | $ 13,329,754 | $ 10,891,934 | | | | | |
BUILDINGSTARS INTERNATIONAL, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME
| Years Ended December 31, | |||||
|---|---|---|---|---|---|
| 2024 | 2023 | 2022 | |||
| REVENUE | $ 83,617,433 | $ 76,205,348 | $ 70,164,196 | ||
| COST OF REVENUE | 60,705,321 | 55,325,794 | 50,810,089 | ||
| GROSS MARGIN | 22,912,112 | 20,879,554 | 19,354,107 | ||
| OPERATING EXPENSES | 13,674,903 | 12,509,619 | 11,453,047 | ||
| General and administrative expenses |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 34–43)
What This Means (2025 FDD)
According to Buildingstars's 2025 Franchise Disclosure Document, the company's general and administrative expenses for the year ending December 31, 2024, were $477,716. This figure is part of the consolidated financial statements, which have been audited by an independent auditor. The auditor's report indicates that the financial statements present fairly the financial position of Buildingstars International, Inc. and Subsidiaries.
General and administrative expenses typically include costs associated with managing the business, such as salaries for administrative staff, office supplies, rent, utilities, and other overhead costs. For a prospective franchisee, understanding these expenses can provide insight into the financial health and operational efficiency of Buildingstars. It's also useful to compare these expenses with previous years to identify any trends or significant changes.
In 2023 and 2022, Buildingstars's general and administrative expenses were $469,583 and $387,132, respectively. The increase from 2022 to 2024 suggests potential growth or changes in the company's administrative operations. Franchisees may want to inquire about the specific factors contributing to these changes to better understand the company's financial management and future strategies.