What was the advertising expense for Crisp & Green in 2023?
Crisp_Green Franchise · 2024 FDDAnswer from 2024 FDD Document
11 | | LIABILITIES AND MEMBER'S EQUITY | | | | | CURRENT LIABILITIES | $ 34,448 | $ 2,136 | $ - | | Accounts Payable | | | | | LONG TERM LIABILITIES | 7,412,300 | 8,175,200 | 4,496,300 | | Deferred Revenue | | | | | Total Liabilities | 7,446,748 | 8,177,336 | 4,496,300 | | MEMBER'S EQUITY | 2,871,756 | 2,937,929 | 2,027,811 | | Total Liabilities and Member's Equity | $ 10,318,504 | $ 11,115,265 | $ 6,524,111 |
CRISP & GREEN FRANCHISING LLC STATEMENTS OF OPERATIONS YEARS ENDED DECEMBER 31, 2023, 2022, AND 2021
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| REVENUES | |||
| Royalty Income | $ 3,397,510 | $ 2 |
Source: Item 23 — RECEIPTS (FDD pages 66–252)
What This Means (2024 FDD)
According to Crisp & Green's 2024 Franchise Disclosure Document, the advertising expense for the company in 2023 was $434,782. This figure is part of the operating expenses detailed in the financial statements. Reviewing these expenses can provide insight into how Crisp & Green invests in marketing and brand awareness.
For a prospective franchisee, understanding the franchisor's advertising expenses is crucial. It demonstrates the franchisor's commitment to supporting the brand and driving customer traffic. A significant advertising expense can indicate a strong focus on marketing, which can benefit individual franchise locations. Conversely, low advertising expenses might suggest that franchisees need to take on more responsibility for local marketing efforts.
It's also important to consider how these advertising funds are allocated. Franchisees should inquire about the types of advertising activities Crisp & Green undertakes, such as digital marketing, traditional media, or local store marketing support. Understanding the strategy behind the advertising spend can help franchisees assess the potential impact on their business. Comparing these figures with previous years can also reveal trends in Crisp & Green's marketing investments.