What was the amount of 'other income (expense) net' for Focus Cfo in 2023?
Focus_Cfo Franchise · 2025 FDDAnswer from 2025 FDD Document
ITY | 723,721 | 324,472 | | TOTAL LIABILITIES AND MEMBERS' EQUITY | $ 2,595,673 | $ 1,768,094 |
The accompanying notes are an integral part of these financial statements.
CONSOLIDATED STATEMENTS OF INCOME
Years Ending December 31, 2024, 2023 and 2022
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| REVENUE | |||
| CFO services | $ 25,903,981 | $ 20,061,315 | $ 16,192,779 |
| Franchise and License fees | 611,345 | 416,000 | 308,000 |
| TOTAL REVENUE | 26,515,326 | 20,477,315 | 16,500,779 |
| COMMISSION EXPENSE | 21,147,246 | 16,047,125 | 12,769,451 |
| GROSS PROFIT | 5,368,080 | 4,430,190 | 3,731,328 |
| OPERATING EXPENSES | |||
| Regional administration | 70,804 | 40,386 | 21,707 |
| Marketing | 232,110 | 168,377 | 133,904 |
| Recruiting | 533,684 | 528,916 | 353,297 |
| Office expenses | 54,593 | 55,110 | 48,009 |
| Salaries and wages | 2,071,747 | 1,897,966 | 1,492,794 |
| Insurance and taxes | 115,263 | 126,131 | 105,385 |
| Outside services | 424,360 | 264,903 | 176,937 |
| Training | 509,785 | 385,752 | 289,218 |
| Other | 150,805 | 14 |
Source: Item 23 — Receipts (FDD pages 37–126)
What This Means (2025 FDD)
According to Focus Cfo's 2025 Franchise Disclosure Document, the 'other income (expense) net' for the company in 2023 was $22,393. This figure represents income from sources other than the company's primary business operations, less any related expenses. For a prospective franchisee, understanding this number provides insight into the financial health and diversification of Focus Cfo's revenue streams.
'Other income' can include items such as interest income, gains from the sale of assets, or income from investments. Conversely, 'other expenses' might include interest expenses, losses from the sale of assets, or other miscellaneous expenses not directly related to the core business. The net figure provides a snapshot of the overall impact of these secondary financial activities on the company's bottom line.
It's important to note that while $22,393 is the 'other income (expense) net' for 2023, this amount can fluctuate from year to year. In 2024, this figure was $30,630, while in 2022, it was a negative ($67). These variations can be influenced by various factors, including changes in investment strategies, economic conditions, or one-time events. A prospective franchisee should consider these fluctuations when assessing the overall financial stability of Focus Cfo.