What were the Itan auto operating expenses in 2024?
Itan Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | |
|---|---|---|
| ASSETS | ||
| ASSETS | ||
| CURRENT ASSETS | ||
| Cash | $ 12,947 | $ 349,230 |
| Accounts receivable | 126,374 | 96,871 |
| Due from related parties (note 5) | 1,700,000 | 1,550,230 |
| Prepaid expenses | 13,426 | 9,196 |
| Prepaid taxes | 137,975 | - |
| Deferred tax asset (note 9) | 40,619 | 37,027 |
| 2,031,341 | 2,042,554 | |
| PROPERTY AND EQUIPMENT (note 3) | 70,353 | 88,280 |
| The Entry Alb Equilibria (note 3) | ||
| TOTAL ASSETS | 2,101,694 | 2,130,834 |
| LIABILITIES AND STOCKHOLDER'S EQUITY | ||
| CURRENT LIABILITIES | ||
| Accounts payable | 16,029 | 3,765 |
| Accrued liabilities (note 7) | 63,191 | 47,595 |
| Accrued taxes | 訓 | 60,182 |
| Contract liabilities (note 8) | 103,500 | 115,000 |
| Deferred tax liability (note 9) | 49,948 | 39,617 |
| Note payable - current portion (note 10) | 17,413 | 15,038 |
| 250,081 | 281,197 | |
| LONG TERM LIABILITIES | ||
| Note payable (note 10) | 39,561 | 56,974 |
| TOTAL LIABILITIES | 289,642 | 338,171 |
| STOCKHOLDE |
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 2024 were $14,241. This figure is part of the overall operating expenses listed in the document. For comparison, the auto expenses in 2023 were $8,000.
Prospective franchisees should consider this figure as a component of the overall expenses required to run the franchise. Auto expenses can include vehicle maintenance, fuel, and other related costs necessary for business operations. It's important to note that these expenses can fluctuate based on factors such as fuel prices, vehicle condition, and the extent of vehicle use for the business.
Understanding these costs is crucial for budgeting and financial planning. Franchisees should analyze whether these expenses are reasonable for their specific circumstances and operational needs. They may also want to inquire about the factors that contributed to the change in auto expenses from 2023 to 2024 to better anticipate future costs.