What were the total Crawlspace Medic royalties for the year ended December 31, 2023?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
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STATEMENTS OF OPERATIONS AND CHANGES IN MEMBER'S EQUITY CSM FRANCHISE GROUP, LLC
| For the Years Ended December 31, |
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Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2024 FDD)
According to Crawlspace Medic's 2024 Franchise Disclosure Document, the total royalties for the year ended December 31, 2023, were $1,572,312. This figure represents the income Crawlspace Medic received from its franchisees based on a percentage of their gross sales. Royalties are a primary revenue stream for franchisors like Crawlspace Medic, as they reflect the ongoing support and brand usage provided to franchisees.
For a prospective Crawlspace Medic franchisee, this number indicates the overall health and revenue generation of the franchise system. A growing royalty income suggests that existing franchisees are performing well and generating increasing sales. This can be a positive sign for potential franchisees, as it demonstrates the potential for profitability within the Crawlspace Medic system.
It's important to note that this figure represents the total royalties collected from all franchisees and corporate locations. Individual franchisee royalty payments will vary depending on their sales volume. Reviewing the Item 19 financial performance representations in the FDD, and speaking with existing franchisees, would provide further insight into the royalty payments expected from an individual Crawlspace Medic franchise.