How much did Kitchen Solvers spend on bank charges in 2022?
Kitchen_Solvers Franchise · 2025 FDDAnswer from 2025 FDD Document
---| | Accounts receivable from a related party | $ 174,152 | $ - | $ - | | Totals | $ 174,152 | $ - | $ - |
Schedules of General and Administrative Expenses
December 31, 2024, 2023, and 2022
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Advertising | $ 39,480 | $ 37,809 | $ 59,264 |
| Bank charges | 4,779 | 4,688 | 2,001 |
| Business development | 90,240 | 88,771 | 98,039 |
| Computer service | 6,170 | 580 | 2,635 |
| Depreciation | 1,545 | 1,579 | 1,585 |
| Employee benefits | 31,167 | 45,911 | 46,970 |
| Franchise development | 294,481 | 318,837 | 350,574 |
| Memberships and licenses | 154,428 | 140,468 | 157,488 |
| Miscellaneous | 113,852 | 124,330 | 120,772 |
| Office supplies and postage | 3,550 | 3,491 | 9,903 |
| Professional fees | 61,130 | 128,559 | 50,902 |
| Rent | 50,482 | 47,981 | 49,213 |
| Repairs and maintenance | 4,561 | 14,158 | 4,838 |
| Salaries and wages | 577,936 | 340,803 | 347,366 |
Source: Item 21 — Financial Statements (FDD pages 48–49)
What This Means (2025 FDD)
According to Kitchen Solvers' 2025 Franchise Disclosure Document, the company's bank charges in 2022 amounted to $2,001. This figure reflects the expenses Kitchen Solvers incurred for various banking services and fees during that year.
For a prospective franchisee, understanding these historical expenses can provide insight into the operational costs Kitchen Solvers faces. While $2,001 may seem like a small amount compared to other expenses like advertising or salaries, it's still a recurring cost that contributes to the overall financial picture.
It's worth noting that bank charges can fluctuate from year to year based on factors such as transaction volume, banking relationships, and economic conditions. Therefore, while the 2022 figure provides a baseline, franchisees should consider potential variations in future bank charges when projecting their own expenses. Reviewing the trend of bank charges over the three years presented (2022-2024) can offer a more comprehensive understanding of this expense category.