What was the net income for Floors To Go at the end of 2024?
Floors_To_Go Franchise · 2025 FDDAnswer from 2025 FDD Document
28,516 | | 34,409 | | | Due to franchisees - cashback program | | 483,563 | | 472,253 | | | Accrued expenses | | 284,241 | | 260,669 | | | Total liabilities (all current) | | 797,120 | | 777,094 | | | Member's equity | | 699,872 | | 549,866 | | | Total liabilities and member's equity | $ | 1,496,992 | $ | 1,326,960 | |
The accompanying notes are an integral part of these financial statements.
Statements of Income and Member's Equity
| 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 | 20 |
Source: Item 23 — RECEIPTS (FDD pages 47–204)
What This Means (2025 FDD)
According to Floors To Go's 2025 Franchise Disclosure Document, the net income for the year ending December 31, 2024, was $1,517,901. This figure represents the company's profit after deducting all operating expenses from total revenue. In comparison, the net income for the year ending December 31, 2023, was $1,709,639.
For a prospective franchisee, understanding the franchisor's net income can provide insight into the financial health and stability of Floors To Go. A consistent and positive net income suggests that the company is managing its operations effectively and generating profits. However, it's important to note that past performance is not necessarily indicative of future results.
It is also important to consider the various factors that can influence net income, such as changes in revenue, operating expenses, and market conditions. Reviewing the complete financial statements and notes, as well as comparing these figures to previous years, can provide a more comprehensive understanding of Floors To Go's financial performance. Prospective franchisees should consult with a financial advisor to assess the financial viability of investing in a Floors To Go franchise.