What was the net income (loss) for Deck Medic in 2023?
Deck_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
| | Maryland | | | Michigan | | | Minnesota | | | New York | | | North Dakota | | | Rhode Island | | | South Dakota | | | Virginia | | | Washington | | | Wisconsin | |
| 2023 | ||
|---|---|---|
| Revenues | ||
| Royalties | $ 131,7 | 09 $ 170,178 |
| Initial franchise fees | 2,2 | 250 2,250 |
| Advertising fund | 22,2 | 31 3,678 |
| Other revenue | 10,0 | 00 - |
| Total Revenues | 166, | 190 176,106 |
| Operating Expenses | ||
| Advertising and marketing | 54,8 | 35 69,863 |
| Wages and salaries | 54,0 | 01 53,986 |
| Legal and professional | 16,7 | 25 26,714 |
| General a |
Source: Item 23 — RECEIPTS (FDD pages 43–228)
What This Means (2024 FDD)
According to Deck Medic's 2024 Franchise Disclosure Document, the company experienced a net loss in 2023. Specifically, the net income/loss for 2023 was reported as $(4,533). This indicates that Deck Medic's expenses exceeded its revenues for the year.
For a prospective franchisee, this information is crucial as it provides insight into the financial performance of the franchisor. A net loss could raise concerns about the financial stability of Deck Medic and its ability to support its franchisees. It is important to investigate the reasons behind the loss, such as increased operating expenses or decreased revenues, to assess the potential impact on the franchise system.
It would be prudent for potential franchisees to further investigate Deck Medic's financial statements and ask the franchisor for detailed explanations regarding the net loss. Understanding the factors contributing to the loss and the franchisor's plans to address them is essential for making an informed investment decision. Additionally, comparing these figures with previous years and industry benchmarks can provide a more comprehensive understanding of Deck Medic's financial health.