When was the Focus Cfo Group 401(k) Profit Sharing Plan established?
Focus_Cfo Franchise · 2025 FDDAnswer from 2025 FDD Document
50% of the monthly rent expense under the lease to the Company for its use of the space. The rent expense paid by the Company to the Majority Owner for the period ended December 31, 2022 was $17,457. The lease ended in November of 2022
RETIREMENT PLAN
The Focus CFO Group 401(k) Profit Sharing Plan (the Plan) was established in October of 2024. Eligible employees may elect to contribute a portion of their compensation to the Plan after completion of six months of service with the Company. The maximum allowable employee deferral to the Plan was $23,000 per employee in 2024.
The Company makes an ADP Safe Harbor contribution of 3% of each employee's c
Source: Item 23 — Receipts (FDD pages 37–126)
What This Means (2025 FDD)
According to the 2025 Focus Cfo Franchise Disclosure Document, The Focus CFO Group 401(k) Profit Sharing Plan was established in October 2024. Eligible employees of Focus Cfo may contribute to the plan after six months of service with the company. The maximum employee deferral was $23,000 in 2024.
Focus Cfo makes an ADP Safe Harbor contribution of 3% of each employee's compensation. The maximum employer contribution was $10,350 per employee in 2024, with the company contributing $7,160 to operating expenses in 2024.
For a prospective franchisee, this indicates that Focus Cfo offers a retirement plan to its employees, which may be a factor in attracting and retaining talent. The plan includes both employee contributions and employer matching, which is a common practice in the industry. Understanding the details of the retirement plan can help a franchisee assess the overall compensation and benefits package offered to potential employees.