What was the total revenue for Crawlspace Medic in 2022?
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 | 24,000 | 6,000 | ||
| Other income | 6,000 | 22,465 | - | ||
| Total Revenues | 1,418,478 | 1,437,309 | 557,626 | ||
| Operating Expenses | |||||
| General and administrative | 354,026 | 283,546 | 76,890 | ||
| Leased administrative | 116,490 | 146,120 | 194,930 | ||
| Legal and professional services | 105,027 | 45,050 | 24,788 | ||
| Advertising and marketing | 34,488 | 8,533 | 42,349 | ||
| Total Operating Expenses | 610,031 | 483,249 | 338,957 | ||
| INCOME FROM OPERATIONS | 808,447 | 954,060 | 218,669 | ||
| Members' equity (deficit) at beginning of year | 460,495 | 147,585 | (48,862) | ||
| Members' withdrawals |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2024 FDD)
According to Crawlspace Medic's 2024 Franchise Disclosure Document, the total revenue for the company in 2022 was $1,418,478. This revenue is comprised of several income streams, with the largest portion coming from royalties at $1,090,613. Other sources of revenue include franchise fees ($50,000), brand advertising fees ($185,150), technology and other fees ($67,260), management fees ($19,455), and other income ($6,000).
Understanding the composition of Crawlspace Medic's revenue can be helpful for a prospective franchisee. It shows the relative importance of royalties versus initial franchise fees and other ongoing fees. The royalty income indicates the overall sales volume of existing franchise locations, while franchise fees reflect the rate of new franchise sales. Brand advertising and technology fees suggest investments Crawlspace Medic is making to support its franchisees.
It's also important to note the expenses Crawlspace Medic incurs to generate this revenue. In 2022, Crawlspace Medic had total operating expenses of $610,031, which included general and administrative costs ($354,026), leased administrative expenses ($116,490), legal and professional services ($105,027), and advertising and marketing expenses ($34,488). After deducting these expenses from the total revenue, the income from operations was $808,447.
Reviewing these figures allows potential franchisees to assess the financial health and profitability of Crawlspace Medic. By comparing revenue and expenses, franchisees can gain insight into how efficiently Crawlspace Medic manages its operations and supports its franchise network. This information, combined with other factors such as brand recognition and market demand, can help franchisees make an informed decision about investing in a Crawlspace Medic franchise.