What was the total
Management_Recruiters Franchise · 2024 FDDAnswer from 2024 FDD Document
Retained earnings | | 28,337 | 25,542 | | Total stockholders' equity | | 62,732 | 58,254 | | Total liabilities and stockholders' equity | $ | 103,826 | $ 103,283 |
HireQuest, Inc. Consolidated Statements of Income
| Year ended | ||||||
|---|---|---|---|---|---|---|
| December 31, | December 31, | |||||
| (in thousands, except per share data) | 2023 | 2022 | ||||
| Franchise royalties | $ | 35,813 | $ | 28,897 | ||
| Service revenue | 2,069 | 2,055 | ||||
| Total revenue | 37,882 | 30,952 | ||||
| Selling, general and administrative expenses | 24,448 | 12,874 | ||||
| Depreciation and amortization | 2,793 | 2,040 | ||||
| Income from operations | 10,641 | 16,038 | ||||
| Other miscellaneous expense | (1,738) | (2,047) | ||||
| Interest income | 263 | 247 | ||||
| Interest and other financing expense | (1,386) | (368) | ||||
| Net income before income taxes | 7,780 | 13,870 | ||||
| Provision for income taxes | 1,345 | 1,895 | ||||
| Net income from continuing operations | 6,435 | 11,975 | ||||
| (Loss) income from discontinued operations, net of tax | (300) | 483 | ||||
| Net income | $ | 6,135 | $ | 12,458 | ||
| Basic earnings per share | ||||||
| Continuing operations | $ | 0.47 | $ | 0.87 | ||
| Discontinued operations | (0.02) | 0.04 | ||||
| Total | $ | 0.45 | $ | 0.91 | ||
| Diluted earnings per share | ||||||
| Continuing operations | $ |
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 65–66)
What This Means (2024 FDD)
According to Management Recruiters's 2024 Franchise Disclosure Document, the company's financial statements include details on total revenue for 2023 and 2022. Total revenue for the year ending December 31, 2023, was $37,882,000. In the previous year, ending December 31, 2022, the total revenue amounted to $30,952,000. These figures represent the combined income from franchise royalties and service revenue.
These revenue figures are important for prospective franchisees as they provide insight into the overall financial performance of Management Recruiters. A franchisee can assess the brand's revenue trends and growth trajectory. Understanding the composition of total revenue, specifically the breakdown between franchise royalties and service revenue, can help a franchisee evaluate the different income streams and their relative importance to the business model.
Additionally, the FDD provides information on the total assets at fair value and total liabilities at fair value for the years 2021, 2022, and 2023. For December 31, 2023, total assets at fair value were $55,358,000 and total liabilities at fair value were $14,765,000. For December 31, 2022, total assets at fair value were $52,269,000 and total liabilities at fair value were $16,538,000. Finally, for December 31, 2021, the total assets at fair value were $43,661,535 and total liabilities at fair value were $3,237,189.
Reviewing these figures allows potential franchisees to understand the financial stability and overall capitalization of Management Recruiters. By comparing revenue, assets, and liabilities, prospective franchisees can gain a more comprehensive understanding of the financial health of the franchise system.