What was the total amount spent on commissions by Exit in 2024?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Current liabilities | |||
| Bank overdraft | $ 603,412 | $ 344,392 | $ - |
| Accounts payable | 7,055,216 | 8,030,086 | 6,593,994 |
| Income taxes payable | - | 15,000 | 351,968 |
| Other current liabilities | 495,000 | - | - |
| Advanced from related party | 32,704 | 35,579 | 34,744 |
| Line of credit | 521,232 | 151,217 | - |
| Current portion of notes payable | 343,083 | 1,281,506 | 1,518,786 |
| Short-term notes payable - related parties | 351,676 | 816,338 | - |
| Current portion of deferred revenue | 3,140,717 | 3,636,617 | 3,523,417 |
| Total current liabilities | 12,543,040 | 14,310,735 | 12,022,909 |
| Long-term liabilities | |||
| Notes payable, net of current | 1,559,052 | 1,889,505 | 2,250,108 |
| Deferred income tax liability - Canadian taxes | 414,995 | 312,000 | 215,000 |
| Deferred revenue | 3,381,807 | 3,929,136 | 4,854,640 |
| Other non-current liabilities | 1,005,000 | - | - |
| Total long-term liabilities | 6,360,854 | 6,130,641 | 7,319,748 |
| Stockholders' equity | |||
| Common stock, $.07 par value, 100 shares authorized, issued, and outstanding at December 31, 2024 Retained earnings Accumulated other comprehensive loss Equity |
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, the company's total expenditure on commissions for the year 2024 was $68,380. This figure is part of the consolidated financial statements, which provide an overview of Exit's financial performance over the past three years. The FDD includes comparative data from 2023 and 2022, allowing prospective franchisees to assess trends in Exit's commission expenses.
For a potential Exit franchisee, understanding the franchisor's commission expenses can offer insights into the overall financial health and stability of the company. While this number reflects Exit's expenses, franchisees should also consider how their own commission structure will work, as detailed elsewhere in the FDD.
It's important to note that this figure represents Exit's overall commission expenses and not necessarily the commission structure for individual franchisees or sales representatives. Franchisees should review the complete financial statements and related notes for a comprehensive understanding of Exit's financial performance.