How much did Floors To Go spend on travel, meals, and entertainment in 2022?
Floors_To_Go Franchise · 2025 FDDAnswer from 2025 FDD Document
09 | | 51,761 | | revenue | | | | | Accrued | 260,669 | | 227,000 | | expenses | | | | | Total | 777,094 | | 856,940 | | liabilities | | | | | (all | | | | | current) | | | | | Member's | 549,866 | | 1,259,440 | | equity | | | | | Total | $ 1,326,960 | | $ 2,116,380 | | liabilities | | | | | and | | | | | member's | | | | | equity | | | |
The accompanying notes are an integral part of these financial statements.
Statements of Income and Member's Equity
| Year Ended December 31 | |||
|---|---|---|---|
| 2023 | 2022 | ||
| Revenue | |||
| Operating | $ 3,313,578 | $ 3,301,062 | |
| Sale | 13,451 | 5,000 | |
| of | |||
| franchise | |||
| licenses | |||
| Total | 3,327,029 | 3,306,062 | |
| revenue | |||
| Operating | |||
| expenses | |||
| Management | 800,000 | 800,000 | |
| fees ‐ related | |||
| party | |||
| Franchise | 474,154 | 418,488 | |
| related | |||
| costs | |||
| Commissions | 207,300 | 189,800 | |
| Travel, | 49,481 | 48,161 | |
| meals | |||
| and | |||
| entertainment | |||
| Professional | 44,403 | 55,813 | |
| services |
Source: Item 23 — RECEIPTS (FDD pages 47–204)
What This Means (2025 FDD)
According to the 2025 Floors To Go Franchise Disclosure Document, the company's expenses for travel, meals, and entertainment in 2022 totaled $48,161.
This figure is part of the overall operating expenses reported in the company's financial statements. Reviewing these expenses can provide insight into how Floors To Go manages its resources and where it allocates funds. For a prospective franchisee, understanding these expenditures can help in evaluating the financial stability and operational efficiency of the franchisor.
It's worth noting that these expenses can fluctuate year to year based on various factors, such as company events, training programs, and travel for franchisee support. Comparing the 2022 figure to the 2023 figure of $49,481 shows a slight increase, which could be due to increased activities or inflationary pressures. A potential franchisee should consider these trends when assessing the financial health of Floors To Go.