What was the technology fee revenue for Caring Senior Service in 2023?
Caring_Senior_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | 2022 | ||
|---|---|---|---|---|
| Revenues | ||||
| Royalty fees | $2,112,484 | $ 1,951,540 | $ 1,682,759 | |
| Franchise sales and renewal fees | 182,156 | 195,278 | 206,868 | |
| Technology fee revenue | 1,091,807 | 876,001 | 528,246 | |
| Reimbursed charges from franchises, net | 205,963 | 444,914 | 247,305 | |
| Total Revenue | 3,592,410 | 3,467,733 | 2,665,178 | |
| Operating Expenses | ||||
| General and administrative expenses | 1,173,689 | 1,525,555 | 1,403,766 | |
| Partners' compensation | 62,000 | 65,000 | 66,000 | |
| Technology fee expense | 1,066,368 | 757,400 | 664,191 | |
| Employee lease expense | 852,689 | 1,276,777 | 988,026 | |
| Total Operating Expenses | 3,154,746 | 3,624,732 | 3,121,983 | |
| Net Operating (Loss) Income Before | ||||
| State Franchise Tax Provision | 437,664 | (156,999) | (456,805) | |
| State franchise tax provision | ( 18,648) | (17,968) | (7,981) | |
| Net Income (Loss) | $ 419,016 | $ (174,967) | $ (464,786) |
Source: Item 23 — RECEIPTS (FDD pages 53–204)
What This Means (2025 FDD)
According to Caring Senior Service's 2025 Franchise Disclosure Document, the technology fee revenue for 2023 was $876,001. This revenue is collected from franchisees and represents an important income stream for the franchisor. Franchisees should understand what services and support they receive in exchange for this fee.
The technology fee revenue is part of the total revenue reported by Caring Senior Service. In 2023, Caring Senior Service's total revenue was $3,467,733. Other revenue streams include royalty fees of $1,951,540 and franchise sales and renewal fees of $195,278. Reimbursed charges from franchises, net, accounted for $444,914.
Technology is a critical component for businesses today, and the technology fee revenue suggests that Caring Senior Service places importance on technology. For a prospective franchisee, it is important to understand how these technology fees are used to support the franchise system and what specific technology-related services and tools are provided to franchisees. It is also important to understand if the technology fee is a flat fee or a percentage of gross sales.
Overall, the technology fee revenue provides insight into the financial operations of Caring Senior Service. A prospective franchisee should investigate further into the specifics of the technology fee, what it covers, and how it benefits their franchise operation.