What was the total amount spent on salaries and benefits for Exit in 2022?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
e - 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 attributable to controlling interest | 7 8,147,295 (1,979,828) 6,167,474 | 7 8,075,962 (1,817,038) 6,258,931 | 7 9,403,248 (1,824,376) 7,578,879 | | Non-controlling interests | (2,329) | (1,713) | (1,250) | | Total stockholders' equity | 6,165,145 | 6,257,218 | 7,577,629 | | Total liabilities and stockholders' equity | $ 25,069,039 | $ 26,698,594 | $ 26,920,286 |
EXIT REALTY CORP. INTERNATIONAL CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS FOR THE YEARS ENDED DECEMBER 31, 2024, 2023 AND 2022
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Revenue | $ 15,421,227 | $ 15,991,792 | $ 17,858,393 |
| Operating expenses | |||
| Advertising and promotion | 2,335,585 | 2,858,751 | 2,880,073 |
| Amortization and depreciation | 65,563 | 92,338 | 125,888 |
| Ancillary expenses | 155,129 | 159,378 | 209,692 |
| Credit loss (recovery) expense | 351,755 | 1,304,738 | 382,936 |
| Bank charges | 261,316 | 246,186 | 234,654 |
| Commissions | 68,380 | 198,365 | 111,540 |
| Contract services | 951,910 | 883,805 | 972,546 |
| Fees and dues | 27,450 | 30,231 | 33,494 |
| Information technology | 504,587 | 519,057 | 470,750 |
| Insurance | 158,867 | 146,300 | 97,700 |
| Office and general | 83,168 | 64,051 | 83,463 |
| Postage and delivery | 50,372 | 77,943 | 102,833 |
| Professional fees | 921,810 | 512,417 | 334,687 |
| Rent | 302,011 | 305,396 | 293,000 |
| Repairs and maintenance | - | 2,787 | 8,364 |
| Salaries and benefits | 7,692,843 | 7,205,125 | 7,900,241 |
| Telephone | 18,920 | 25,306 | 26,585 |
| Trade shows an |
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, the total expenditure on salaries and benefits for the company in 2022 was $7,900,241. This figure provides insight into the operational costs associated with staffing for Exit.
For a prospective franchisee, understanding the franchisor's expenses, particularly those related to salaries and benefits, is crucial. It offers a benchmark against which they can compare their own potential staffing costs. Significant variances could indicate regional differences in labor costs or operational inefficiencies.
It's important to note that this figure reflects Exit's corporate expenses and may not directly translate to the staffing costs a franchisee will incur. Factors such as the number of agents, support staff, and local wage rates will influence a franchisee's actual expenses. Therefore, while this information is valuable for context, franchisees should conduct their own due diligence to estimate their specific costs.