What was the net income for Floors To Go 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 Floors To Go's 2025 Franchise Disclosure Document, the company's net income for the year ending December 31, 2022, was $1,784,397. This figure represents the profit Floors To Go retained after deducting all operating expenses from its total revenue for that year.
Understanding the net income of Floors To Go is crucial for potential franchisees as it provides insight into the financial health and profitability of the franchisor. A strong net income suggests that the company is well-managed and has a sustainable business model. This can be a positive indicator for franchisees, as it implies that Floors To Go has the resources to support its franchisees and invest in the growth of the brand.
It is important to note that while the net income provides a snapshot of the company's financial performance, prospective franchisees should also consider other factors such as revenue trends, operating expenses, and cash flow. Analyzing these financial metrics in conjunction with the net income can provide a more comprehensive understanding of Floors To Go's financial stability and potential for future growth.