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What were the other general and administrative expenses for Ledgers in 2022?

Ledgers Franchise · 2025 FDD

Answer from 2025 FDD Document

venue | 83,000 | 53,989 | 711,614 | | | | | | Total Non-Current Liabilities | 83,000 | 53,989 | 711,614 | | | | | | Total Liabilities | 978,945 | 910,154 | 1,257,740 | | | | | | Members' Equity: | | | | | | | | | Members' equity | 793,510 | 1,155,501 | 1,704,387 | | | | | | Total Members' Equity | 793,510 | 1,155,501 | 1,704,387 | | | | | | Total Liabilities and Members' Equity | $ 1,772,455 | $ 2,065,655 | $ 2,962,127 | | | | |

LOYALTY BUSINESS SERVICES, LLC (FORMERLY FIDE HOLDING, LLC) Statements of Operations

For the Years Ended December 31, 2024, 2023, and 2022

20 24 - 2023 2022
Revenue:
Initial franchise fees $ . 30,336 $ 113,362 $ 114,383
Royalty fees í 36,056 37,528 49,019
Commission income = = 21,000
Other 26,479 - 41,740 176,466
Total revenue 92,871 192,630 360,868
Operating expenses:
Salaries, wages, taxes and benefits 1 74,839 449,440 425,683
Advertising and promotions 2,750 9,910 19,784
Corporate overhead expense 1' 75,805 109,334 58,370
Franchise recruitment 9 95,587 50,925 128,533
Technology expense 9,756 40,525 248,337
Management fees - 15,000 -
Professional fees : 84,627 13,327 61,406
Bad debt expense í 35,657 294,324 -
Other general and administrative e

Source: Item 22 — CONTRACTS (FDD page 46)

What This Means (2025 FDD)

According to Ledgers's 2025 Franchise Disclosure Document, the other general and administrative expenses for the company in 2022 were $21,766. This figure is part of the operating expenses listed in the financial statements. These expenses can include a variety of costs associated with running the business, such as office supplies, utilities, and other administrative fees.

Understanding the breakdown of these expenses is important for prospective franchisees. It provides insight into the cost structure of Ledgers and helps in forecasting potential expenses for their own franchise. While some expenses, like advertising and franchise recruitment, are more directly tied to growth and marketing, general and administrative expenses represent the cost of maintaining the business's infrastructure.

It's worth noting that these figures reflect Ledgers's corporate expenses and may not directly translate to the expenses a franchisee will incur. However, they offer a benchmark for understanding the types of costs involved in running a similar business. Franchisees should conduct their own due diligence and create a detailed budget that accounts for their specific circumstances and local market conditions.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.