What was the total spent on information technology by Exit in 2024?
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 | $ 15,4 |
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, the company spent $504,587 on information technology in 2024. This figure is part of the operating expenses listed in the consolidated statements. Reviewing these expenses can provide insight into where Exit allocates its resources.
When evaluating a franchise, it is important to consider the franchisor's expenditures on technology. For Exit, the information technology expenses reflect the costs associated with maintaining and improving their technological infrastructure. This can include software, hardware, IT support, and other technology-related services that support the franchise system.
Understanding these costs can help a prospective franchisee assess the financial stability and priorities of Exit. A consistent investment in information technology can indicate a commitment to innovation and efficiency, which could benefit franchisees by providing them with better tools and systems to manage their businesses. It is also worth noting that the amount spent on information technology in 2024 is slightly less than the $519,057 spent in 2023, but more than the $470,750 spent in 2022.