What was the total other income for Ledgers in 2023?
Ledgers Franchise · 2025 FDDAnswer 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' 2025 Franchise Disclosure Document, the company's total other income in 2023 was reported as a negative $115,395. This figure is part of the broader "Other (income) expense" category, which also includes interest income and other expenses.
For a prospective franchisee, this indicates that Ledgers experienced a net loss from activities outside of its primary revenue streams (initial franchise fees, royalty fees, and commission income) during that year. This could be due to various factors, such as investments, one-time financial events, or accounting adjustments.
It's important to note that this figure is part of the overall financial performance of Ledgers and should be considered in conjunction with other financial data, such as total revenue, operating expenses, and net loss. A potential franchisee should investigate the reasons behind this negative other income and how it might impact the company's future financial stability and support for its franchisees. Understanding the context of this figure is crucial for assessing the overall financial health and stability of the Ledgers franchise system.