What was the total amount Kitchen Solvers spent on salaries and wages in 2023?
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 total expenditure on salaries and wages for the year 2023 was $340,803. This figure reflects the direct costs associated with compensating employees, which is a significant component of Kitchen Solvers' operational expenses.
For a prospective franchisee, understanding these costs is crucial for assessing the financial health and stability of Kitchen Solvers. Monitoring salary and wage expenses over time, as presented in the table for 2022, 2023, and 2024, can reveal trends in staffing levels, compensation policies, and overall labor management efficiency. A significant increase in this expense could indicate expansion, increased staffing needs, or changes in pay rates, while a decrease might suggest cost-cutting measures or restructuring.
It's important to note that these figures represent Kitchen Solvers' corporate expenses and may not directly reflect the staffing costs a franchisee will incur. Franchisees should develop their own detailed financial projections, including local labor costs, when evaluating the potential profitability of a Kitchen Solvers franchise. This due diligence will provide a more accurate picture of the investment required and the potential return on investment.
Reviewing these financial statements provides valuable insight into Kitchen Solvers' financial management and cost structure. Prospective franchisees should analyze these trends in conjunction with other financial metrics to gain a comprehensive understanding of the franchise's financial performance.