What was the lease expense for Bumble Roofing in 2024?
Bumble_Roofing Franchise · 2025 FDDAnswer from 2025 FDD Document
IDATED STATEMENTS OF CASH FLOWS FOR THE YEARS ENDING SEPTEMBER 30, 2024, 2023, AND 2022
| 2024 | 2023 ("As Restated") | 2022 ("As Restated") | |
|---|---|---|---|
| Cash Flows from Operating Activities: | |||
| Net income | $ 20,459,018 | $ 9,920,680 | $ 6,089,513 |
| Adjustments to reconcile net income | |||
| to net cash provided by operating activities: | |||
| Bad debt expense | 300,531 | 59,046 | 82,201 |
| Depreciation and amortization | 10,773,355 | 7,910,727 | 5,494,567 |
| Lease ex |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 53)
What This Means (2025 FDD)
According to Bumble Roofing's 2025 Franchise Disclosure Document, the lease expense for 2024 was $940,945. This figure represents the total expense Bumble Roofing incurred for leasing property during that year.
For a prospective franchisee, understanding the franchisor's lease expenses can provide insight into the potential costs associated with securing a location for their own franchise. While the franchisee's individual lease expenses will vary depending on location and lease terms, this figure offers a benchmark for understanding the scale of leasing costs within the Bumble Roofing system.
It's important to note that this lease expense is part of the overall financial performance of the franchisor, and prospective franchisees should consider it in conjunction with other financial data provided in the FDD to assess the financial health and stability of Bumble Roofing. Additionally, the FDD also lists operating lease payments as ($657,754) for 2024. This is different from the lease expense, and represents the actual cash outflow for operating leases during the year.