What was the total amount of technology and other fees Crawlspace Medic collected in 2020?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
ge_156_Picture_0.jpeg)
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 total amount of technology and other fees collected in 2020 was $20,650. This figure reflects the aggregate amount Crawlspace Medic received from all franchisees for technology-related services and other fees during that year.
For a prospective franchisee, this indicates the scale of technology and other fee obligations across the franchise system. It is important to note that this is a system-wide number and not what an individual franchisee would pay. Franchisees should refer to other sections of the FDD to understand how these fees are calculated and what they can expect to pay individually.
Understanding the technology infrastructure and support provided in exchange for these fees is crucial. A potential franchisee should evaluate whether the technology and services offered are robust and justify the cost. They should also inquire about any planned upgrades or changes to the technology platform, as these could impact future fees and operational efficiency.