What were the total revenues for 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 total revenues for the company in 2021 were $1,437,309. This figure represents the sum of several revenue streams, including royalties, franchise fees, brand advertising fees, technology and other fees, management fees, and other income.
Specifically, the revenue components that make up the total revenues include $795,900 in royalties, $455,000 in franchise fees, $94,219 in brand advertising fees, $45,725 in technology and other fees, $24,000 in management fees, and $22,465 from other income. These figures provide insight into how Crawlspace Medic generates income, with royalties and franchise fees being the most significant contributors.
For a prospective franchisee, understanding the revenue composition of Crawlspace Medic is crucial. It highlights the importance of ongoing royalties as a major revenue source for the franchisor, which are typically based on a percentage of the franchisee's gross sales. The franchise fees contribute a significant amount as well, but are not recurring like royalty payments. The brand advertising and technology fees also contribute to the overall revenue.
It is important to note that these figures reflect the franchisor's revenues and not the revenues of individual franchise locations. A potential franchisee should review Item 19 in the FDD, which provides financial performance representations for franchise locations, to better understand potential revenues and expenses at the franchise level.