What was the total provision amount payable to Flowerama in 2023?
Flowerama Franchise · 2024 FDDAnswer from 2024 FDD Document
Company contributions may be made at the discretion of the Board of Directors, limited to the maximum amount deductible for income tax purposes. The Company did not make any matching contributions to the plan during either of the 52-week period ended July 2, 2023 or the
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 72–77)
What This Means (2024 FDD)
According to Flowerama's 2024 Franchise Disclosure Document, the total provision amount payable to Flowerama in 2023 was $218,858. This figure is derived from the sum of the currently payable amount of $178,843 and the deferred provision benefit of $40,015.
This information is relevant for prospective franchisees as it provides insight into Flowerama's financial performance and the provisions it makes. Understanding these figures can help franchisees assess the financial stability and potential profitability of the franchisor.
The document also shows comparative data from 2022, where the total provision was $273,612, calculated from a currently payable amount of $317,425 and a deferred provision benefit of ($43,813). Reviewing these trends over multiple years can offer a more comprehensive understanding of Flowerama's financial management and its implications for franchisees.