What was the total amount Gold Star spent on Laundry and Uniforms in 2023?
Gold_Star Franchise · 2025 FDDAnswer from 2025 FDD Document
--------------------------------------|---------------------------| | Retained Earnings, December 31, 2022, As Restated | $ 1,312,822 |
NOTE 25 – SUBSEQUENT EVENT
The Company has evaluated subsequent events through April 8, 2025, which is the date the consolidated financial statements were available to be issued.
In February 2025, the Company entered into a 15-year lease for a building in Hamilton, Ohio. The lease has three 5-year renewal options with a purchase option in years 20 through 30 of the lease. The lease will commence 30 days from the Company's opening for business to the public, which is anticipated to be April 2025. The rent payments over the life of the lease will be $476,124.
GOLD STAR CHILI, INC. CONSOLIDATED STATEMENTS OF SELLING , GENERAL AND ADMINISTRATIVE EXPENSES
| -------------------------- | -- |
|---|
| 2022 | ||||||
|---|---|---|---|---|---|---|
| 2024 | 2023 | (Restated) | ||||
| Research and Development | $ 35,511 | $ | 37,484 | $ | 41,997 | |
| Salaries and Wages | 6,959,176 | 6,101,035 | 5,600,894 | |||
| 401(k) Expense | 64,584 | 73,246 | 65,823 | |||
| Advertising Expense | 886,959 | 921,454 | 996,584 | |||
| Depreciation and Amortization Expense | 1,312,395 | 1,000,384 | 876,592 | |||
| State and Local Taxes | 755,808 | 757,139 | 716,467 | |||
| Pa |
Source: Item 23 — Receipts (FDD pages 53–163)
What This Means (2025 FDD)
According to Gold Star's 2025 Franchise Disclosure Document, the company's total expenditure on Laundry and Uniforms in 2023 was $62,050. This figure reflects the expenses Gold Star incurred to maintain cleanliness and a consistent brand image through employee uniforms and laundry services.
For a prospective franchisee, this indicates an ongoing operational cost that needs to be factored into their financial planning. While this specific expense may not be the largest, understanding these costs is crucial for accurate budgeting and forecasting. Franchisees should consider factors that could influence this expense, such as the number of employees, the frequency of uniform cleaning, and any potential changes in uniform requirements.
It's also worth noting that these expenses can vary based on location, local service costs, and the size of the Gold Star franchise. Therefore, a detailed understanding of these costs is essential for a franchisee to manage their finances effectively and maintain profitability.