What was 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 year, offering a benchmark for potential franchisees to consider. It's 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 evaluate the potential profitability of a Crawlspace Medic franchise. For FY 23, the average revenue was $986,715. The median cost of goods sold was 41%, and the median gross profit was 59%. These figures, along with the median revenue, provide a more complete picture of the financial performance of Crawlspace Medic franchises.
It is important to remember that these figures are based on the performance of affiliate and franchised locations and that actual results may vary. The FDD states that Crawlspace Medic affiliates operate without territorial restrictions, which means that a franchisee's results may depend on the size and characteristics of their territory. Prospective franchisees should carefully consider these factors and conduct their own due diligence before investing in a Crawlspace Medic franchise.