What were the total operating expenses for Caring Senior Service in 2024?
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 2024 were $3,154,746. The FDD also provides a breakdown of these expenses.
Specifically, general and administrative expenses totaled $1,173,689. Partners' compensation amounted to $62,000. Technology fee expenses were $1,066,368, and employee lease expenses totaled $852,689 for the year ended December 31, 2024.
Understanding these operating expenses is crucial for prospective franchisees as it provides insight into the financial management and cost structure of Caring Senior Service. Reviewing these figures in comparison to revenues can help potential franchisees assess the profitability and financial health of the franchise system.