What was the net income for Floors To Go in 2023?
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 |
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, 2023, was $1,709,639. This figure represents the profit Floors To Go retained after deducting all operating expenses from its total revenue for that year.
For a prospective franchisee, understanding the franchisor's net income can provide insights into the financial health and stability of the Floors To Go franchise system. A higher net income generally indicates a more profitable and well-managed organization. This can be a positive sign, suggesting that the franchisor has a sustainable business model and the resources to support its franchisees.
However, it's important to consider this figure in the context of other financial metrics and industry benchmarks. A prospective franchisee should also review Floors To Go's revenue, expenses, and cash flow statements to gain a comprehensive understanding of its financial performance. Additionally, it is essential to compare these figures with previous years to identify any trends or potential areas of concern. Consulting with a financial advisor can help in interpreting these financial statements and assessing the overall financial viability of the franchise opportunity.