How much rental revenue did Christian Brothers Automotive collect in 2023?
Christian_Brothers_Automotive Franchise · 2025 FDDAnswer from 2025 FDD Document
lders' equity | $ 663,061,823 | $ 576,351,339 |
Consolidated Statements of Income Years Ended December 31, 2023 and 2022
| 2023 | 2022 | |
|---|---|---|
| Revenues | $ 137,196,643 | $ 122,309,502 |
| Operating Costs and Expenses | ||
| Cost of revenues | 42,731,504 | 40,601,283 |
| Selling, general and administrative expenses | 50,507,014 | 41,565,152 |
| Compensation expense associated with ESOP | 10,121,713 | 14,206,798 |
| Total operating costs and expenses | 103,360,231 | 96,373,233 |
| Income from operations | 33,836,412 | 25,936,269 |
| Other Income (Expense) | ||
| Gains on sale-leaseback transactions | 2,044,287 | 920,683 |
| Gains on sale of leased properties | 3,613,496 | 13,994,953 |
| Interest income | 1,234,707 | 859,510 |
| Interest expense | (6,596,136) | (2,497,171) |
| Other income, net | (293,984) | 467,395 |
| Total other income, net | 2,370 | 13,745,370 |
| Net income before state income taxes | 33,838,782 | 39,681,639 |
| State Income Tax Expense | (1,799,431) | (1,535,256) |
| Net income | 32,039,351 | 38,146,383 |
| Less net income attributable to noncontrolling interest | (592,784) | (11, |
Source: Item 23 — RECEIPTS (FDD pages 76–372)
What This Means (2025 FDD)
The 2025 Franchise Disclosure Document for Christian Brothers Automotive does not explicitly state the amount of rental revenue collected in 2023. However, the document does provide information on various revenue streams and gains related to real estate activities. Specifically, it mentions gains on sale-leaseback transactions and gains on the sale of leased properties.
In 2023, Christian Brothers Automotive reported gains on sale-leaseback transactions of $2,044,287 and gains on the sale of leased properties of $3,613,496. These figures are related to the company's business of investing in, owning, and selling the real estate and facilities from which its franchise locations operate. These real estate sales are typically made to third parties, some of which are under sale-leaseback agreements.
To determine the exact rental revenue, a prospective franchisee should ask Christian Brothers Automotive for a detailed breakdown of their revenue sources, specifically focusing on rental income derived from properties leased to franchisees or other parties. Understanding the proportion of revenue derived from rental activities versus sales of properties can provide a clearer picture of the company's financial model and stability.