What was the total amount Gold Star spent on Travel and Entertainment in 2024?
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 | |||
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 expenses for Travel and Entertainment in 2024 amounted to $111,915. This figure reflects the costs incurred by Gold Star for travel-related activities and entertainment purposes during the specified year.
For a prospective franchisee, understanding these expenses can provide insight into the operational costs borne by the franchisor. While franchisees typically manage their own local travel and entertainment expenses, this figure gives an idea of the scale of Gold Star's corporate activities, such as franchisee training, conferences, or visits to franchise locations for support and oversight.
It's also useful to compare this figure with previous years to identify trends. In 2023, Gold Star spent $107,848 on Travel and Entertainment, and in 2022, the amount was $118,617. The 2024 figure of $111,915 falls within this range, suggesting a degree of consistency in this area of expenditure. Franchisees may want to inquire about the specific activities that contribute to these expenses to better understand how Gold Star supports its franchise network.