What were the 2023 gross sales for the Crown Gold Exchange location in Riverside, CA?

According to Crown Gold Exchange's 2024 Franchise Disclosure Document, the gross sales for the Riverside, CA location in 2023 were $2,797,519.00. This data is based on the financial performance of seven Crown Gold businesses owned by WAM Gold, LLC, an affiliate, all of which are located in California. These locations were open during the entire period from January 1, 2023, to December 31, 2023. The Riverside, CA location opened in October 2010. These company-owned outlets are stated to not differ materially from future franchise-owned outlets. However, the FDD also states that individual results may vary, and there is no assurance that a franchisee will achieve the same level of sales or earnings.

It is important to note that the gross sales figure represents the average revenue from the sale of goods or services, less sales tax, discounts, and returns. The Item 19 data does not include any operating expenses associated with running the affiliate-owned businesses. Therefore, a prospective franchisee would need to consider costs such as cost of goods sold, labor, advertising, and rent to determine net income. The document also mentions an estimated royalty fee of $12,000 for the Riverside, CA location, which is an estimated expenditure.

Crown Gold Exchange emphasizes that the financial results presented are historical and should not be considered projections of future performance. The FDD also clarifies that the affiliates do not pay royalties or marketing fees to Crown Gold Exchange, but the estimated royalty expenditure is shown for informational purposes. Prospective franchisees should request written substantiation of the financial information provided in Item 19 to better understand the data and its implications. Furthermore, the FDD advises franchisees to report any unauthorized financial performance information or projections to the franchisor's management and relevant regulatory agencies.