What was the net income for Engineering For Kids in 2024?
Engineering_For_Kids Franchise · 2025 FDDAnswer from 2025 FDD Document
ILITIES AND MEMBER'S EQUITY | $ | 138,356 | $ | 218,424 | $ | 119,691 |
ENGINEERING FOR KIDS INTERNATIONAL, LLC STATEMENTS OF OPERATIONS YEARS ENDED DECEMBER 31, 2024, 2023 AND 2022
| 2024 | 2023 | 2022 | ||||
|---|---|---|---|---|---|---|
| REVENUE | ||||||
| Royalty fees | $ 235,010 | $ | 264,890 | $ | 233,947 | |
| Brand fees | 44,888 | 52,752 | 49,183 | |||
| 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 | 36,000 | |||
| Salaries and wages | 87,156 | 69,961 | 64,974 | |||
| Marketing and advertising | 15,397 | 53,981 | 72,488 | |||
| Franchisor marketing expense | 51,070 | 46,511 | 33,266 | |||
| Office | 44,342 | 32,211 | 21,614 | |||
| Consulting fees | 21,426 | 29,607 | 29,870 | |||
| Professional and legal fees | 51,589 | 20,265 | 40,483 | |||
| Travel | 9,801 | 12,349 | 6,622 | |||
| Credit loss expense | 1,740 | 6,953 | 10,739 | |||
| Bank charges | 4,685 | 2,405 | 2,037 | |||
| Amortization | 10,437 | - | 2,235 | |||
| TOTAL OPERATING EXPENSES | 381,343 | 352,643 | 320,328 | |||
| Income from oper |
Source: Item 22 — CONTRACTS (FDD page 53)
What This Means (2025 FDD)
According to Engineering For Kids's 2025 Franchise Disclosure Document, the net income for the company for the year ending December 31, 2024, was $37,219. The FDD also provides net income figures for the years ending December 31, 2023 and 2022, which were $34,933 and $56,260, respectively. This information is derived from the company's statements of operations. These figures reflect the profitability of Engineering For Kids's operations at the corporate level.
It is important to note that these figures represent the franchisor's financial performance and not the potential earnings of an individual franchisee. A prospective franchisee should not rely solely on these figures to estimate their own potential profitability. Franchisees' earnings can vary widely based on factors such as location, management skills, local market conditions, and operating expenses.
In addition to net income, the statements of operations include details on revenue streams, such as royalty fees, brand fees, technology fees, franchise fees, and late fees. For 2024, total revenue was $418,562. Operating expenses, including royalty and overhead, salaries and wages, marketing and advertising, and other costs, totaled $381,343 for the same year. Reviewing these revenue and expense categories can provide a more comprehensive understanding of the franchisor's financial structure.
Prospective franchisees should carefully review the complete financial statements and consult with a financial advisor to understand the implications of these figures for their own investment decisions. Item 19 of the Engineering For Kids FDD, which is not included in the provided excerpts, would provide more information about franchisee earnings.