What were the total operating expenses for Deck Medic in 2023?
Deck_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
| Beginning balance | $ | 18,000 | $ | 20,250 | |
|---|---|---|---|---|---|
| Additional deferred revenue | 4 | ||||
| Revenue recognized – additional deferred revenue | (2,250) | (2,250) | |||
| Deferred revenue | 15,750 | 18,000 | |||
| Less: current maturities | (2,250) | (2,250) | |||
| Deferred revenue, net of current maturities |
Source: Item 23 — RECEIPTS (FDD pages 43–228)
What This Means (2024 FDD)
According to Deck Medic's 2024 Franchise Disclosure Document, advertising expenses for the year ending December 31, 2023, were $54,835. In 2022, these expenses totaled $69,863. These costs were expensed as incurred.
This information is relevant for prospective Deck Medic franchisees as it provides insight into the company's advertising spending. Understanding the franchisor's investment in advertising can help franchisees gauge the level of brand support they might expect. It also allows them to compare these figures with their own potential advertising budgets and strategies.
However, the FDD excerpt only specifies advertising expenses. It does not provide a comprehensive figure for total operating expenses. A prospective franchisee should request a complete income statement from Deck Medic to fully understand all operating expenses, including costs of goods sold, salaries, rent, and other overhead costs, to assess the overall financial health and profitability of the company.