What was the total amount of franchise fees Crawlspace Medic collected in 2021?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
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STATEMENTS OF OPERATIONS AND CHANGES IN MEMBERS' EQUITY (DEFICIT) CSM FRANCHISE GROUP, LLC
| For the Years Ended | |||||
|---|---|---|---|---|---|
| 2022 | December 31, 2021 | 2020 | |||
| Revenues |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2024 FDD)
According to Crawlspace Medic's 2024 Franchise Disclosure Document, the total franchise fees collected in 2021 amounted to $455,000. This figure represents the revenue Crawlspace Medic recognized from initial franchise fees paid by new franchisees joining the system during that year.
For a prospective franchisee, this indicates the franchisor's ability to attract new franchisees and expand its network. A higher number could suggest a strong interest in the Crawlspace Medic franchise opportunity. It is important to note that this revenue stream can fluctuate depending on the number of new franchise agreements signed each year.
This information is valuable for potential franchisees as it provides insight into the financial health and growth of Crawlspace Medic. Analyzing trends in franchise fee revenue over several years can offer a clearer picture of the franchise's stability and popularity. It's also worth comparing this figure to those of other franchises in the same industry to gauge Crawlspace Medic's competitive position.