What was the total income for Learningrx in the earlier year presented in this table?
Learningrx Franchise · 2025 FDDAnswer from 2025 FDD Document
n ended in accordance with accounting principles generally | | | | | | accepted in the United States of America. | | | | |
LearningRx Franchise Corporation Statements of Income For the Years Ended September 30, 2024 and 2023
| 2024 | 2023 | |
|---|---|---|
| Income | ||
| Royalty fees | $ 1,192,359 | $ 1,192,063 |
| Initial franchise fees | 114,551 | 162,286 |
| Area development fees | 9,769 | 6,200 |
| Technology and training fees | 113,401 | 112,854 |
| Transfer fees | 24,500 | - |
| Renewal fees | 7,000 | 7,000 |
| Materials fees | 15,888 | 16,479 |
| Marketing fees | 73,535 | 17,418 |
| Interest and other income | 20,726 | 5,295 |
| Total Income | 1,571,729 | 1,519,595 |
| Expenses | ||
| Bad debt | 29,764 | - |
| Depreciation | 898 | 898 |
| Franchise system expenses | 615,225 | 564,949 |
| Marketing and development | 50,212 | 34,373 |
| Outside consultants | 104,033 | 105,341 |
| Overhead | 79,864 | 133,279 |
| Professional fees | 67,938 | 90,734 |
| Rent | 60,000 | 80,000 |
| Research and development | 24,000 |
Source: Item 23 — RECEIPT (FDD pages 54–209)
What This Means (2025 FDD)
According to Learningrx's 2025 Franchise Disclosure Document, the company's statements of income include figures for 2024 and 2023. The total income for Learningrx in 2023 was $1,519,595. This income is derived from several sources, including royalty fees, initial franchise fees, area development fees, technology and training fees, transfer fees, renewal fees, materials fees, marketing fees, and interest and other income.
Breaking down the income sources, Learningrx generated $1,192,063 from royalty fees, $162,286 from initial franchise fees, $6,200 from area development fees, and $112,854 from technology and training fees. Other income sources include $7,000 from renewal fees, $16,479 from material fees, $17,418 from marketing fees, and $5,295 from interest and other income. There were no transfer fees recorded for 2023.
Understanding the composition of Learningrx's income can be valuable for prospective franchisees. It highlights the relative importance of royalty fees as the primary revenue stream, followed by initial franchise fees. The other fees contribute smaller portions to the overall income. This information can help a potential franchisee assess the stability and diversity of Learningrx's revenue sources and understand how the franchisor generates income.