What was the total amount of Crisp & Green's legal fees 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 | $ 2,426,451 | $ 1,414,976 |
| Marketing Revenue | 977,996 | 689,400 | 394,264 |
| Franchise Sales | 1,465,500 | 1,210,900 | 367,200 |
| Technology Revenue |
Source: Item 23 — RECEIPTS (FDD pages 66–252)
What This Means (2024 FDD)
According to Crisp & Green's 2024 Franchise Disclosure Document, the company's legal fees for the year 2023 totaled $35,051. This figure is part of the operating expenses listed in the company's financial statements. The FDD also includes legal fees for previous years, with no legal fees listed for 2022 and 2021.
For a prospective franchisee, this figure provides insight into the legal costs incurred by Crisp & Green Franchising LLC at the corporate level. It's important to note that this amount does not reflect any legal expenses a franchisee might incur while operating their own location.
Understanding the franchisor's legal expenses can help potential franchisees assess the financial health and stability of the company. Significant fluctuations in legal fees from year to year could indicate ongoing litigation or other legal challenges that may impact the franchise system. Therefore, it would be wise for a potential franchisee to inquire about the reasons behind these expenses and how they might affect the franchise system's overall performance and stability.