What was the Itan franchise renewal fee 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 |
Source: Item 23 — RECEIPT (FDD pages 44–190)
What This Means (2025 FDD)
According to Itan's 2025 Franchise Disclosure Document, the franchise renewal fee for Itan in 2024 was $1,000. This fee is a one-time payment that franchisees would need to make to renew their franchise agreement. This information is part of the financial data summarizing the company's revenues for 2024.
For a prospective Itan franchisee, understanding the renewal fee is crucial for long-term financial planning. It allows them to anticipate costs associated with continuing the franchise beyond the initial term. Knowing this fee helps in assessing the overall profitability and sustainability of the Itan franchise over its entire lifespan.
It is important to note that this is just one of the fees associated with owning an Itan franchise. Other fees, such as royalties and marketing fund contributions, also play a significant role in the franchisee's financial obligations. Therefore, prospective franchisees should carefully review all the fees outlined in the FDD to gain a comprehensive understanding of the financial commitments involved.