What was the difference in total assets for Engineering For Kids between 2023 and 2024?
Engineering_For_Kids Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | 2022 | ||
|---|---|---|---|---|
| REVENUE | ||||
| Royalty fees | $ 2 35,010 | $ 2 64,890 | $ 2 33,947 | |
| Brand fees | 44,888 | 52,752 | 4 9,183 | |
| Technology fees | 38,300 | 37,500 | 42,200 | |
| Franchise fees | 90,250 | 34,000 | 51,500 | |
| Late fees | 10,114 | 2,875 | 1,925 | |
| TOTAL REVENUE | 418,562 | 392,017 | 378,755 | |
| OPERATING EXPENSES | ||||
| Royalty and overhead | 83,700 | 78,400 | 3 6,000 | |
| Salaries and wages | 87,156 | 69,961 | 6 4,974 | |
| Marketing and advertising | 15,397 | 53,981 | 7 2,488 | |
| Franchisor marketing expense | 51,070 | 46,511 | 3 3,266 | |
| Office | 44,342 | 32,211 | 2 1,614 | |
| Consulting fees | 21,426 | 29,607 | 2 9,870 | |
| Professional and legal fees | 51,589 | 20,265 | 4 0,483 | |
| Travel | 9,801 | 12,349 | 6 ,622 | |
| Credit loss expense | 1,740 | 6,953 | 1 0,739 | |
| Bank charges | 4,685 | 2,405 | 2 ,037 | |
| Amortization | 10,437 | - | 2 ,235 | |
| TOTAL OPERATING EXPENSES | 381,343 | 352,643 | 320,328 | |
| Income from operations | 3 7,219 | 3 9,374 | 5 8,427 | |
| OTHER INCOME | ||||
| Foreign exchange gain (loss) | - | ( 4,441) | ( 2,167) | |
| NET INCOME | $ 3 7,219 | $ 3 4,933 | $ 5 6,260 |
Source: Item 23 — RECEIPTS (FDD pages 53–138)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, I am unable to calculate the difference in total assets for Engineering For Kids between 2023 and 2024. The provided financial table includes revenue and operating expenses, but it does not list total assets.
For prospective franchisees, understanding the franchisor's asset values can provide insights into the company's financial stability and overall health. Knowing the trend in asset growth or decline helps assess the franchisor's ability to support its franchisees and invest in the brand.
To get an accurate understanding of Engineering For Kids's financial position, a potential franchisee should ask the franchisor directly for their balance sheets, which detail assets, liabilities, and equity. Reviewing these statements will offer a clearer picture of the company's financial health and its ability to meet its obligations and support franchise operations.