What were the total revenues for Hyper Kidz in the most recent year presented in the financial statements?
Hyper_Kidz Franchise · 2024 FDDAnswer from 2024 FDD Document
| AS OF DECEMBER 31, | ||||
|---|---|---|---|---|
| 2023 | 2022 | |||
| ASSETS: | ||||
| CURRENT ASSETS | ||||
| Cash and equivalents | $ | 18,203 | $ | 7,376 |
| Accounts receivable | 20,155 | 18,006 | ||
| TOTAL CURRENT ASSETS | 38,358 | 25,382 | ||
| TOTAL ASSETS | $ | 38,358 | $ | 25,382 |
| LIABILITIES AND MEMBERS' (DEFICIT): | ||||
| CURRENT LIABILITIES | ||||
| Accounts payable and accrued expenses | $ | 6,745 | $ | 3,813 |
| Non-refundable deferred franchise sales, current portion | 20,700 | 7,900 | ||
| Notes payable, current portion | - | 341 | ||
| TOTAL CURRENT LIABILITIES | 27,445 | 12,054 | ||
| LONG-TERM LIABILITIES | ||||
| Non-refundable deferred franchise sales | 157,095 | 55,958 | ||
| Notes payable | 79,000 | 78,659 | ||
| TOTAL LIABILITIES | 263,540 | 146,671 | ||
| MEMBERS' (DEFICIT) | ||||
| Members' equity (deficit) | (62,130) | 55,630 | ||
| Due from affiliates, net | (163,052) | (176,919) | ||
| TOTAL MEMBERS' (DEFICIT) | (225,182) | (121,289) | ||
| TOTAL LIABILITIES AND | ||||
| MEMBERS' (DEFICIT) | $ | 38,358 | $ | 25,382 |
BOOMERANG FRANCHISE, LLC STATEMENTS OF OPERATIONS
**2023 2022 2021 RE
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 52)
What This Means (2024 FDD)
According to Hyper Kidz's 2024 Franchise Disclosure Document, the total revenues for Boomerang Franchise, LLC, the parent company of Hyper Kidz, for the year 2023 were $139,805. This figure represents the combined income from franchise sales, royalty fees, equipment sales, and other revenue streams, less any royalty discounts. These revenues are a key indicator of the franchisor's financial health and stability.
Specifically, the revenue streams contributing to the total revenue include franchise sales of $14,063, royalty fees of $75,919, equipment sales of $49,823, and no other revenue or royalty discounts reported for 2023. Reviewing these individual revenue components can provide insight into the different ways Hyper Kidz generates income, which may be relevant for prospective franchisees to understand.
It's important to note that these figures reflect the franchisor's revenues, not the revenues of individual franchise locations. A prospective franchisee would also want to examine the financial performance representations (if any) in Item 19 of the FDD to understand potential revenues and expenses at the franchise level. Understanding the franchisor's revenue streams and profitability can help a potential franchisee assess the overall strength and viability of the Hyper Kidz franchise system.