What was the total revenue for Gokhale Method in 2023?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
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| 2023 | |
|---|---|
| REVENUE | |
| Royalties | $ 42,057 |
| Franchise fees | 11,188 |
| Continuing education | 28,368 |
| Total revenue | 81,613 |
| OPERATING EXPENSES | |
| Selling expenses | 3,943 |
| General and administrative expenses | 73,135 |
| Total operating expenses | 77,078 |
| Income from operations | 4,535 |
| Tax provision | 800 |
| Net |
Source: Item 22 — CONTRACTS (FDD page 34)
What This Means (2024 FDD)
According to Gokhale Method's 2024 Franchise Disclosure Document, the total revenue for the company in 2023 was $81,613. This revenue is broken down into three categories: royalties, franchise fees, and continuing education. Royalties accounted for $42,057, franchise fees contributed $11,188, and continuing education brought in $28,368.
In addition to revenue, the FDD also details Gokhale Method's operating expenses for 2023. Selling expenses totaled $3,943, while general and administrative expenses amounted to $73,135. The total operating expenses for the year were $77,078. After deducting these expenses from the total revenue, the income from operations was $4,535.
After accounting for a tax provision of $800, Gokhale Method reported a net income of $3,735 for 2023. This information provides a prospective franchisee with a clear picture of the company's financial performance during the specified period. Understanding these figures can help potential franchisees assess the financial health and stability of the Gokhale Method franchise system.