What was the total amount Engineering For Kids spent on salaries and wages 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' 2025 Franchise Disclosure Document, the company's total expenditure on salaries and wages for the year 2024 was $87,156. This figure is part of the operating expenses detailed in the company's statements of operations. Reviewing these expenses can provide potential franchisees insight into the financial management and cost structure of the franchisor.
Salaries and wages are a significant component of operating expenses for many businesses, including franchises. Understanding this expense can help a prospective Engineering For Kids franchisee assess the financial health and stability of the franchisor. It's also useful to compare these figures across different years to identify trends and potential areas of concern or growth. For instance, Engineering For Kids' salaries and wages were $69,961 in 2023 and $64,974 in 2022, showing an increase over these three years.
Analyzing the franchisor's expenses, including salaries and wages, is a crucial step in the due diligence process. Potential franchisees should consider these figures in conjunction with revenue data and other operating expenses to gain a comprehensive understanding of the franchisor's financial performance. This information can be used to evaluate the overall profitability and sustainability of the Engineering For Kids franchise system.