What was the total amount spent on advertising for a Fly To Fit franchise in 2023?
Fly_To_Fit Franchise · 2024 FDDAnswer from 2024 FDD Document
| 2023 | |
|---|---|
| Income | |
| Sales | 221,095.66 |
| Total Income | 221,095.66 |
| Cost of Goods Sold | |
| Cost of Goods Sold | 311.21 |
| Total Cost of Goods Sold | 311.21 |
| Gross Profit | 220,784.45 |
| Operating Expenses | |
| Advertising | 4,213.66 |
| Bank Service Charges | 8,221.10 |
| Business License & Fees | 643.68 |
| Dues & Subscriptions | 2,403.03 |
| Insurance | 3,119.87 |
| Meals & Entertainment | 102.20 |
| Other Expense | 42,150.27 |
| Payroll Tax Expense | 10,607.43 |
| Professional Fees | 252.70 |
| Wages & Salaries | 32,883.49 |
| Total Operating Expenses | 104,597.43 |
| Operating Income | 116,187.02 |
| Other Income / (Expense) | |
| Other Income | 416.15 |
| Vendor Refunds | 1,784.58 |
| Total Other Income / (Expense) | 2,200.73 |
| Net Income | 118,387.75 |
Source: Item 19 — FINANCIAL PERFORMANCE REPRESENTATIONS (FDD pages 39–41)
What This Means (2024 FDD)
According to Fly To Fit's 2024 Franchise Disclosure Document, the company-owned outlet spent $4,213.66 on advertising in 2023. This figure is part of the total operating expenses, which amounted to $104,597.43 for the year. The FDD provides a detailed breakdown of the income, cost of goods sold, gross profit, and various operating expenses for the company-owned location during the specified period. These figures are based on the company owned outlet from January 1, 2023, to December 31, 2023.
For a prospective Fly To Fit franchisee, this advertising expense provides a benchmark. However, it is important to note that advertising needs can vary based on location, marketing strategies, and local market conditions. The $4,213.66 spent by the company-owned outlet may not directly translate to the advertising expenditure required for a franchised location to achieve similar sales. Franchisees should consider this figure as a reference point and develop their own advertising budget based on their specific circumstances.
It's also important to understand that the financial results presented are based on a single company-owned outlet. The FDD explicitly states that individual results may differ, and there is no assurance that a franchisee will achieve the same level of sales or earnings. Prospective franchisees should conduct their own due diligence, including market research and financial planning, to determine the appropriate level of advertising expenditure for their Fly To Fit franchise.