What were the Itan auto operating expenses in 2023?
Itan Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2023 | 2022 | |
|---|---|---|
| ACCETC | ||
| ASSETS | ||
| CURRENT ASSETS | ||
| Cash | $ 349,230 | $ 18,409 |
| Accounts receivable | 96,871 | 101,411 |
| Due from related parties (note 5) | 1,550,230 | 1,399,221 |
| Prepaid expenses | 9,196 | 83,782 |
| Prepaid taxes | 5,150 | 5,087 |
| Deferred tax asset (note 9) | 37,027 | 4,661 |
| belefied tax asset (note 5) | 37,027 | 1,001 |
| 2,042,554 | 1,612,571 | |
| PROPERTY AND EQUIPMENT (note 3) | 88,280 | 657 |
| TOTAL ASSETS | 2,130,834 | 1,613,228 |
| 101/12/105215 | 2,130,031 | |
| LIABILITIES AND STOCKHOLDER'S EQUITY | ||
| CURRENT LIABILITIES | ||
| Accounts payable | 3,765 | 792 |
| Accrued liabilities (note 7) | 47,595 | 31,399 |
| Accrued taxes | 60,182 | 15,473 |
| Contract liabilities (note 8) | 115,000 | - |
| Deferred tax liability (note 9) | 39,617 | 45,047 |
| Note payable - current portion (note 10) | 15,038 | - |
| 281,197 | 92,711 | |
| LONG TERM LANGUETES | ||
| LONG TERM LIABILITIES | FC 074 | |
| Note payable (note 10) | 56,974 | |
| TOTAL LIABILITIES | 338,171 | 92,711 |
| STOCKHOLDER'S EQUITY | ||
| Common stock (note 1 |
Source: Item 23 — RECEIPT (FDD pages 44–190)
What This Means (2025 FDD)
According to Itan's 2025 Franchise Disclosure Document, the auto operating expenses for 2023 were $8,000. This figure is part of the broader operating expenses detailed in the financial statement.
Understanding the specific components of operating expenses, such as auto expenses, is crucial for prospective franchisees. It allows them to assess the day-to-day costs associated with running the Itan franchise. Auto expenses can include vehicle maintenance, fuel, and insurance related to business activities.
Reviewing these expenses in comparison to previous years, such as 2022 when auto expenses were $8,286, can provide insights into expense trends. This information helps potential franchisees forecast and manage their own operating costs effectively. Note that these figures reflect Itan's corporate operations and may not directly translate to individual franchise performance.