How much did members contribute to Focus Cfo in 2024?
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 FDD, Focus Cfo established a 401(k) Profit Sharing Plan in October 2024, allowing eligible employees to contribute a portion of their compensation after six months of service. The maximum allowable employee deferral to the Plan was $23,000 per employee in 2024.
Focus Cfo also made an ADP Safe Harbor contribution of 3% of each employee's compensation to the participant's account. The maximum allowable ADP Safe Harbor contribution by Focus Cfo was $10,350 per employee in 2024. The company's total contributions to the Plan, charged to operating expenses, amounted to $7,160 in 2024.
For a prospective franchisee, this indicates that Focus Cfo provides retirement benefits to its employees, which may help attract and retain talent. However, the FDD does not specify the total amount of member contributions to the plan, only the maximum allowable deferral per employee and the company's contributions. A potential franchisee might want to inquire about the average employee contribution rate to better understand the overall participation and impact of the retirement plan.