What were the total operating expenses for Caring Senior Service in 2022?
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 total operating expenses for the company in 2022 were $3,121,983. This figure is derived from the company's financial statements, which were audited by an independent auditor. These expenses encompass various costs associated with running the Caring Senior Service franchise system.
Breaking down the operating expenses, the largest component was general and administrative expenses, which amounted to $1,403,766 in 2022. Employee lease expense was also a significant factor, totaling $988,026. Additionally, technology fee expenses accounted for $664,191, and partner's compensation was $66,000. These individual components contribute to the overall cost of operations for Caring Senior Service.
Understanding these operating expenses is crucial for prospective franchisees. It provides insight into the financial health and cost structure of Caring Senior Service. While this data reflects the franchisor's expenses, franchisees will also incur their own operating expenses, such as salaries, rent, and marketing costs. Reviewing the franchisor's expenses can help potential franchisees better understand the types and magnitude of costs they may encounter when running their own Caring Senior Service franchise.