What was the amount of professional fees for Clean Your Dirty Face in 2022?
Clean_Your_Dirty_Face Franchise · 2025 FDDAnswer from 2025 FDD Document
06,990 | $ | 1,325,718 |
Statements of Income For the Years Ended December 31, 2024, 2023, and 2022
| 2024 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Revenue | |||||
| Franchise fees | $ 475,000 | $ | 500,000 | $ 387,002 | |
| Royalties | 419,495 | 274,895 | 184,362 | ||
| Support services | 800 | 700 | 4,000 | ||
| Total Revenue | 895,295 | 775,595 | 575,364 | ||
| Operating Expenses | |||||
| Payroll and related expenses | 276,676 | 228,156 | 252,041 | ||
| Marketing | 35,432 | 58,666 | 70,733 | ||
| Professional fees | 26,705 | 24,013 | 41,866 | ||
| Office | 3,708 | 20 | 3,362 | ||
| Travel | 2,798 | 390 | 838 | ||
| Licenses and renewals | 1,455 | 900 | 1,200 | ||
| Insurance | - | 3,250 | - | ||
| Total Operating Expenses | 346,774 | 315,395 | 370,040 | ||
| Other Income | |||||
| Interest | 342 | 5,808 | - | ||
| Dividends | 56,637 | 2,298 | - | ||
| Insurance reimbursement | 2,313 | - | - |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 54)
What This Means (2025 FDD)
According to Clean Your Dirty Face's 2025 Franchise Disclosure Document, the professional fees for the company in 2022 were $41,866. This figure is part of the operating expenses listed in the financial statements. Professional fees can include expenses for services such as accounting, legal, and consulting. These fees are a normal part of operating a business and can fluctuate from year to year based on the specific needs of the company.
For a prospective Clean Your Dirty Face franchisee, understanding these historical expenses can provide insight into the types of ongoing costs they might expect to see at the corporate level. While franchisees are responsible for their own operating expenses, the franchisor's expenses can reflect the level of support and resources available to the franchise system. It is important to note that past expenses are not necessarily indicative of future expenses, but they can serve as a benchmark for comparison.
Franchisees should consider these figures in conjunction with other financial data in the FDD, such as revenue and net income, to get a comprehensive view of the franchisor's financial health. A stable and profitable franchisor is more likely to provide the support and resources needed for franchisees to succeed. Therefore, reviewing these financial statements is a crucial step in the due diligence process for any potential Clean Your Dirty Face franchisee.