What was the rent expense for Learningrx for the years ended September 30, 2024 and 2023?
Learningrx Franchise · 2025 FDDAnswer from 2025 FDD Document
he renewal of lease will be chosen. Rent expense was $60,000 and $80,000 for the years ended September 30, 2024 and 2023, respectively. The company uses the incremental borrowing rate to calculate the ROU asset. As of September 30, 2024 and 2023 ROU assets were $218,958 and $220,053, respectively.
| Operating lease cost | $ 60,000 |
|---|
Source: Item 23 — RECEIPT (FDD pages 54–209)
What This Means (2025 FDD)
According to Learningrx's 2025 Franchise Disclosure Document, the operating lease cost for the year ended September 30, 2024, was $60,000, which also represents the total lease costs for that year. The document also indicates that future lease payments as of September 30, 2024, are structured as follows: $60,000 for each year from 2025 through 2028.
This information is relevant for prospective Learningrx franchisees as it provides insight into the company's lease obligations and how they are structured. Understanding the lease terms and costs can help franchisees assess the financial stability and operational expenses of Learningrx. The consistency in lease payments from 2025 to 2028 suggests a stable lease agreement, which can be a positive indicator for franchisees.
However, the information provided does not include the rent expense for the year ended September 30, 2023. To gain a comprehensive understanding of Learningrx's historical rent expenses, a prospective franchisee should inquire about the specific rent expenses for the year ended September 30, 2023, and compare it with the figures available for 2024. This comparison will help in identifying any trends or changes in lease costs over time.