What was the total amount of 'other income' reported by Crawlspace Medic 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 | |||||
| Royalties | $ | 1,090,613 | $ | 795,900 | $ 384,476 |
| Franchise fees | 50,000 | 455,000 | 146,500 | ||
| Brand advertising fee | 185,150 | 94,219 | - | ||
| Technology and other fees | 67,260 | 45,725 | 20,650 | ||
| Management fees | 19,455 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2024 FDD)
According to Crawlspace Medic's 2024 Franchise Disclosure Document, the company reported $22,465 in other income for the year ending December 31, 2021. This figure is part of the overall revenue reported by Crawlspace Medic, which totaled $1,437,309 for the same period. Understanding the composition of Crawlspace Medic's revenue, including 'other income,' can provide prospective franchisees with insights into the various revenue streams contributing to the company's financial performance.
'Other income' can encompass various sources of revenue outside of the typical royalties, franchise fees, and advertising fees. It is important to note that the 'other income' for 2021 is significantly higher than the $6,000 reported in 2022, but there was no 'other income' reported in 2020. This variance suggests that this income stream may not be consistent year-to-year.
For a prospective Crawlspace Medic franchisee, this information highlights the importance of understanding all potential revenue sources and how they might fluctuate. It would be prudent to inquire with Crawlspace Medic about the specific nature of this 'other income' and whether franchisees can expect similar opportunities or revenue streams in their own operations. Understanding these details can help in forecasting potential earnings and assessing the overall financial viability of a Crawlspace Medic franchise.