What were the total advertising costs for Buona for the year ended December 31, 2023?
Buona Franchise · 2025 FDDAnswer from 2025 FDD Document
Deferred Revenue, less Current Portion | | | | TOTAL LONG-TERM LIABILITIES | 211,917 | 58,917 | | TOTAL LIABILITIES | 381,469 | 104,941 | | MEMBERS' EQUITY (DEFICIT) Members' Equity (Deficit) Members' Contributions | (122,239) - | (19,123) 25,000 | | TOTAL MEMBERS' EQUITY (DEFICIT) | (122,239) | 5,877 | | TOTAL LIABILITIES AND MEMBERS' EQUITY (DEFICIT) | $ 259,230 | $ 110,818 |
FOR THE FISCAL YEARS ENDED STATEMENTS OF OPERATIONS CHICAGO'S ORIGINAL ITALIAN BEEF FRANCHISING LLC DECEMBER 31, 2023 AND JANUARY 1, 2023
| 2023 | 2022 | |
|---|---|---|
| REV |
Source: Item 22 — CONTRACTS (FDD page 78)
What This Means (2025 FDD)
According to Buona's 2025 Franchise Disclosure Document, the company's advertising expenses for the fiscal year ended December 31, 2023, totaled $15,709. In comparison, Buona did not report any advertising expenses for the fiscal year 2022.
This figure reflects Buona's spending on advertising initiatives at the corporate level. It's important to note that this is separate from any advertising obligations that franchisees may have, such as contributions to marketing funds or local advertising expenditures.
A prospective Buona franchisee should consider this figure in the context of the overall financial performance of the company. Understanding the franchisor's advertising spend can provide insights into their commitment to brand promotion and support for franchisees. It is also important to understand how much franchisees are expected to spend on advertising, both for the grand opening and ongoing local advertising.