What were the total general and administrative expenses for Kitchen Solvers 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 | 49,2 |
Source: Item 21 — Financial Statements (FDD pages 48–49)
What This Means (2025 FDD)
According to Kitchen Solvers' 2025 Franchise Disclosure Document, the schedules of general and administrative expenses include specific categories with their associated costs for the year 2023. These expenses encompass various operational costs essential for running the Kitchen Solvers franchise system.
In 2023, Kitchen Solvers reported $37,809 in advertising expenses, $4,688 in bank charges, $88,771 for business development, $580 in computer service fees, $1,579 for depreciation, and $45,911 in employee benefits. Additionally, franchise development expenses amounted to $318,837, memberships and licenses totaled $140,468, miscellaneous expenses were $124,330, office supplies and postage cost $3,491, professional fees reached $128,559, rent expenses were $47,981, repairs and maintenance amounted to $14,158, salaries and wages totaled $340,803, taxes were $1,906, training and seminars cost $4,837, and travel and entertainment expenses were $9,606.
Prospective franchisees should note that these figures represent the franchisor's expenses and may not directly correlate with the expenses a franchisee will incur in their own operations. However, understanding the franchisor's general and administrative costs can provide insight into the financial management and resource allocation within the Kitchen Solvers franchise system. Reviewing these expenses can help potential franchisees assess the stability and financial health of the Kitchen Solvers organization.