What was the net income for Floors To Go in 2024?
Floors_To_Go Franchise · 2025 FDDAnswer from 2025 FDD Document
| Year Ended December 31 | ||||
|---|---|---|---|---|
| 2024 | 2023 | |||
| Revenue | ||||
| Operating | $ | 3,132,489 | $ | 3,313,578 |
| Sale of franchise licenses | 22,496 | 13,451 | ||
| Total revenue | 3,154,985 | 3,327,029 | ||
| Operating expenses | ||||
| Management fees - related party | 800,000 | 800,000 | ||
| Franchise-related costs | 501,628 | 474,154 | ||
| Commissions | 186,800 | 207,300 | ||
| Professional services | 61,317 | 44,403 | ||
| Credit losses | 52,720 | 35,724 | ||
| Travel, meals and entertainment | 33,996 | 49,481 | ||
| General office | 623 | 6,328 | ||
| Total operating expenses | 1,637,084 | 1,617,390 | ||
| Net income | 1,517,901 | 1,709,639 | ||
| Member's equity, beginning of year | 549,866 | 1,259,440 | ||
| Member distributions |
Source: Item 23 — RECEIPTS (FDD pages 47–204)
What This Means (2025 FDD)
According to the 2025 Floors To Go Franchise Disclosure Document, the net income for Floors To Go in 2024 was $1,517,901. This figure is part of the statement of cash flows for the year ended December 31, 2024, which was audited along with the 2023 financials. The document also shows the net income for 2023 was $1,709,639.
For a prospective franchisee, this indicates the financial performance of Floors To Go itself, not the performance of individual franchise locations. The net income reflects the franchisor's profitability from selling franchises and collecting fees. It does not reflect the potential profitability of a franchisee's store.
It is important to note that while the FDD provides audited financial statements, these reflect the franchisor's performance and not necessarily the potential success of a new franchise location. A prospective franchisee should conduct their own financial analysis and due diligence to determine the potential profitability of a Floors To Go franchise in their specific market.