What were the Caring Transitions professional fees in 2022?
Caring_Transitions Franchise · 2025 FDDAnswer from 2025 FDD Document
signing this agreement as of the dates below.
DURABLE IRREVOCABLE POWER OF ATTORNEY [Individual Franchisee]
THIS POWER OF ATTORNEY is executed by each of the undersigned individual(s) (the "Principals") in favor of C.T. FRANCHISING SYSTEMS, INC., an Ohio corporation ("Franchisor").
PREAMBLE:
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Revenue: | |||
| Revenue from franchise agreements | $ 7,731,280 | 6,565,467 | 5,031,029 |
| National Branding Fund revenue | 2,008,018 | 1,760,093 | 1,447,978 |
| 9,739,298 | 8,325,560 | 6,479,007 | |
| Expenses: | |||
| Advertising & marketing | 726,488 | 663,540 | 535,926 |
| Bank & payroll fees | 5,756 | 10,164 | 6,248 |
| Computer expenses | 197,874 | 156,949 | 282,073 |
| Depreciation | 48,334 | 56,596 | 46,554 |
| Dues & subscriptions | 692 | 1,627 | 1,178 |
| Employee-related expenses | 17,703 | 17,688 | 10,653 |
| Insurance | 24,161 | 14,569 | 10,052 |
| Leased employees expenses | 2,784,955 | 2,196,943 | 1,987,285 |
| Licenses | 4,418 | 4,723 | 2,122 |
| National Branding Fund expenses | 1,738,015 | 1,452,123 | 1,316,876 |
| Office & supplies | 15,916 | 14,690 | 13,923 |
| Postage |
Source: Item 23 — RECEIPT (FDD pages 49–202)
What This Means (2025 FDD)
According to Caring Transitions' 2025 Franchise Disclosure Document, the professional fees for Caring Transitions in 2022 were $297,712. This figure reflects the expenses Caring Transitions incurred for services provided by professionals such as accountants, lawyers, or consultants.
For a prospective franchisee, understanding these professional fees is crucial as it provides insight into the type and cost of external expertise Caring Transitions requires to support its operations. It's important to note that these are Caring Transitions' expenses, not costs that a franchisee would directly pay to the franchisor. However, these expenses could indirectly influence the fees and support services that Caring Transitions provides to its franchisees.
Franchisees should consider this information in conjunction with other financial data in the FDD to assess the overall financial health and operational efficiency of Caring Transitions. A consistent or increasing trend in professional fees might indicate a growing need for specialized services, which could be due to expansion, regulatory changes, or other factors affecting the franchise system.