What were the total operating expenses for Crisp & Green in 2021?
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 total operating expenses for the company in 2021 were $503,143. This figure is derived from the company's statements of operations for the years ending December 31, 2023, 2022, and 2021. These expenses encompass various costs associated with running the franchising business.
Specifically, the operating expenses include a management fee of $500,000 and commission expenses of $3,000. Additionally, the company incurred bank fees of $143. These individual components contribute to the overall total operating expenses for the year.
Prospective franchisees should consider these operating expenses when evaluating the financial performance of Crisp & Green. Understanding the nature and magnitude of these expenses can provide insights into the company's cost structure and profitability. It's important to note that these figures reflect the franchisor's expenses and may not directly translate to the operating expenses of an individual franchise location.