What was the total income for Dermani Medspa in 2023?
Dermani_Medspa Franchise · 2025 FDDAnswer from 2025 FDD Document
NICHOLS, CAULEY & ASSOCIATES, LLC
1825 Barrett Lakes Blvd, Suite 200 Kennesaw, Georgia 30144 770-422-0598 FAX 678-214-2355 kennesaw@nicholscauley.com
INDEPENDENT AUDITOR'S REPORT
To the Members of dermani MEDSPA Franchising, LLC Windermere, Florida
Opinion
We have audited the accompanying financial statements of dermani MEDSPA Franchising, LLC, which comprise the balance sheet as of December 31, 2023, and the related statements of income and changes in member's deficit and cash flows for the year then ended, and the related notes to the financial statements.
In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of dermani MEDSPA Franchising, LLC as of December 31, 2023, and the results of its operations and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Source: Item 23 — RECEIPTS (FDD pages 66–311)
What This Means (2025 FDD)
Based on the 2025 Dermani Medspa Franchise Disclosure Document, while there is an independent auditor's report for the year ending December 31, 2023, the document does not explicitly state the total income for Dermani Medspa Franchising, LLC for that year. The auditor's report confirms that the financial statements, including the statements of income, were audited and found to be fairly presented. However, the specific income figure is not disclosed in the provided excerpts.
Item 23 includes notes to the financial statements as of December 31, 2023. These notes provide details on operating revenues, stating that $1,120,005 of initial franchise fees received have not been earned by the Company as of December 31, 2023. This deferred revenue indicates that Dermani Medspa recognizes revenue over time, particularly the 5% royalty fee collected on total sales. The notes also discuss lease obligations, including total cash paid for operating leases ($45,537) and rental expenses ($64,523) for the year ended December 31, 2023. These figures relate to expenses rather than total income.
A prospective franchisee should request the full audited financial statements for 2023 from Dermani Medspa to ascertain the company's total income. Understanding the revenue streams, profitability, and overall financial health of the franchisor is crucial for making an informed investment decision. The franchisee should also inquire about the breakdown of revenue sources, including franchise fees, royalties, and other potential income streams, to gain a comprehensive view of the company's financial performance.