What is the median revenue for a Crawlspace Medic franchise in FY 23?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
[Item 19: FINANCIAL PERFORMANCE REPRESENTATIONS]
| Crawlspace Medic | FY 20 | FY 21 | FY 22 | FY 23 |
|---|---|---|---|---|
| Average Revenue | $830,584 | $1,278,523 | $1,082,187 | $986,715 |
| Median Revenue | $945,187 | $1,006,801 | $883,529 | $800,908 |
| Cost of Goods Sold | ||||
| Average Materials Cost (%) | 19% | 19% | 21% | 20% |
| Median Materials Cost (%) | 20% | 20% | 20% | 20% |
| Average Labor Cost (%) | 14% | 17% | 17% | 18% |
| Median Labor Cost (%) | 14% | 18% | 15% | 18% |
| Average Subcontractor Cost (% | 6% | 4% | 3% | 2% |
| Median Subcontractor Cost (% | 6% | 4% | 2% | 1% |
| Average All Other Cost (%) | 3% | 4% | 2% | 2% |
| Median All Other Cost (%) | 4% | 3% | 2% | 2% |
| Total Average Costs of Goods ( | 42% | 43% | 43% | 41% |
| Total Median Cost of Goods (% | 37% | 42% | 40% | 41% |
| Average Gross Profit (%) | 58% | 57% | 57% | 59% |
| Median Gross Profit (%) | 63% | 57% | 60% | 59% |
Source: Item 19 — FINANCIAL PERFORMANCE REPRESENTATIONS (FDD pages 38–40)
What This Means (2024 FDD)
According to Crawlspace Medic's 2024 Franchise Disclosure Document, the median revenue for a Crawlspace Medic franchise in FY 23 was $800,908. This figure represents the midpoint revenue achieved by Crawlspace Medic franchises during that fiscal year, offering a benchmark for potential franchisees to gauge expected earnings. It is important to note that this revenue is calculated as gross sales less sales tax and does not include expenses such as royalties, brand fund payments, or technology fees.
The FDD also provides additional financial performance metrics that can help a prospective franchisee understand the cost structure of a Crawlspace Medic franchise. For FY 23, the median materials cost was 20%, the median labor cost was 18%, the median subcontractor cost was 1%, and the median for all other costs was 2%. The total median cost of goods was 41%, resulting in a median gross profit of 59%. These figures can be used to estimate potential profitability.
It is important to consider that these figures are based on the performance of affiliate and franchised locations operating during FY 23, which included locations in multiple states. The FDD explicitly states that actual results may vary depending on the size and characteristics of the franchisee's territory. Prospective franchisees should carefully consider these factors and conduct their own due diligence to determine the potential financial performance of a Crawlspace Medic franchise in their specific location.