How much did Kitchen Solvers spend on professional fees in 2024?
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 expenses for professional fees totaled $61,130 in 2024. This figure reflects the costs Kitchen Solvers incurred for services such as legal, accounting, or consulting work during that year.
For a prospective franchisee, this information provides insight into the operational costs that Kitchen Solvers faces as a franchisor. While franchisees do not directly pay these fees, understanding the franchisor's expenses can offer a glimpse into the financial health and resource allocation of the company. Significant fluctuations in these fees from year to year could signal changes in the company's operations or strategy.
It's worth noting that professional fees are a standard business expense, and the amount can vary depending on the specific needs and activities of Kitchen Solvers. Franchisees might consider comparing this figure with similar expenses of other franchise systems to gauge whether Kitchen Solvers' spending is in line with industry norms. Furthermore, a prospective franchisee might want to inquire with Kitchen Solvers about the nature of these professional fees to better understand their purpose and potential impact on the franchise system.