What was the net income for Focus Cfo in 2024?
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 net income for Focus Cfo in 2024 was $1,235,559. The FDD also provides net income figures for the two previous years. In 2023, Focus Cfo reported a net income of $837,180, and in 2022, the net income was $990,076. This information is based on the company's consolidated financial statements, which have been audited by an independent auditor.
Focus Cfo's revenue is derived from CFO services and franchise and license fees. In 2024, CFO services generated $25,903,981 in revenue, while franchise and license fees contributed $611,345. The total revenue for 2024 was $26,515,326. Commission expenses, which are a significant part of the company's expenses, amounted to $21,147,246 in 2024. The gross profit for the same year was $5,368,080.
Operating expenses for Focus Cfo include regional administration, marketing, recruiting, office expenses, salaries and wages, insurance and taxes, outside services, training, and other expenses. In 2024, the total operating expenses were $4,163,151. The income from operations, calculated by subtracting total operating expenses from the gross profit, was $1,204,929 in 2024. Other income, net of expenses, added $30,630 to the income, resulting in the reported net income of $1,235,559.
Prospective franchisees should note that these figures reflect the financial performance of Focus Cfo as a whole and may not be indicative of the potential earnings of an individual franchise. Factors such as local market conditions, the franchisee's management skills, and the level of competition can significantly impact a franchise's financial performance. Reviewing the complete audited financial statements and consulting with a financial advisor are essential steps in evaluating the financial viability of a Focus Cfo franchise.