How is Crawlspace Medic's rent expense determined?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
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NOTE C -- ROYALTY FEES RECEIVABLE
Royalty fees receivable consist of the following at December 31:
| Location | 2022 | 2021 | 2020 | |||
|---|---|---|---|---|---|---|
| Crawlspace Medic - | $ | - | $ | 3,880 | $ 5,239 | |
| Charlotte | ||||||
| Crawlspace Medic - | - | 4,448 | 6,492 | |||
| Columbia | ||||||
| Crawlspace Medic - | - | 1,644 | - | |||
| Nashville | ||||||
| Crawlspace | - | - | 2,159 | |||
| Medic – | ||||||
| Virginia | ||||||
| $ | - | $ | 9,972 | $ 13,890 |
NOTE D -- RELATED PARTIES
All related party transactions are provided in the normal course of business and, unless otherwise noted, measured at the exchange amount, which is the amount of
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2024 FDD)
Based on the 2024 Crawlspace Medic Franchise Disclosure Document, specific details regarding how rent expenses are determined are not explicitly outlined. However, the FDD does include some historical rent expense data for corporate locations.
Specifically, Item 21 provides financial statements that include rent expenses for corporate-owned Crawlspace Medic locations. For example, the rent expense for Crawlspace Medic - Charlotte was $3,880 in 2021. Crawlspace Medic - Columbia had rent expenses of $4,448 in 2021. Crawlspace Medic - Nashville had rent expenses of $1,644 in 2021. Crawlspace Medic – Virginia had rent expenses of $2,159 in 2020. These figures offer a glimpse into the rent expenses Crawlspace Medic has incurred for its corporate locations in the past. There is no data available for 2022 or 2023 for these locations.
To gain a comprehensive understanding of how rent expenses are determined for a franchise location, a prospective franchisee should directly inquire with Crawlspace Medic about their site selection process, typical lease terms, and any guidelines or support they provide in negotiating lease agreements. Understanding these factors is crucial for accurately projecting operating costs and assessing the overall financial viability of a Crawlspace Medic franchise.