What were the total operating expenses for Cinch I.T. in the restated 2020 year?

According to Cinch I.T.'s 2024 Franchise Disclosure Document, the total operating expenses for the company in the restated 2020 year were $499,100. This figure encompasses various expenses, offering insight into where Cinch I.T. allocated its resources during that period. These expenses include salaries and wages, franchise acquisition and development, insurance, marketing, and other operational costs.

Specifically, the operating expenses listed in the 2024 FDD for the restated 2020 year include salaries and wages of $255,057, franchise acquisition and development expenses of $27,165, insurance costs of $28,202, marketing expenses of $112,112, and miscellaneous expenses of $6,262. Additionally, the company had office expenses of $1,730, professional fees and outside services totaling $18,141, software expenses of $23,915, payroll expenses of $24,224, and travel and entertainment expenses of $2,292. There were also other expenses of $0 listed.

Prospective franchisees should consider these operating expenses in relation to the revenue generated during the same period, which totaled $360,291, to understand the company's profitability. The FDD indicates an income (loss) from operations of $(138,809) for the restated 2020 year. Reviewing these figures helps potential franchisees assess the financial health and stability of Cinch I.T. during that time and how it might impact their own franchise's potential performance.

Understanding these expenses is crucial for potential franchisees as it provides a benchmark for their own expected costs and helps in creating a realistic financial projection for their franchise. Note that the 2020 figures were restated, indicating adjustments made to correct certain errors, which franchisees should also take into account when evaluating the data.