What was the advertising expense for My Salon Suite for the year ended December 31, 2023?
My_Salon_Suite Franchise · 2025 FDDAnswer from 2025 FDD Document
es | | | | and | | | | member's | | | | equity | | |
Consolidated Statements of Income
| For the years ended December 31, | 2023 | 2022 |
|---|---|---|
| Revenues | ||
| Franchise | $ 3,508,446 | $ 3,373,128 |
| sales | ||
| Royalties | 49,940,078 | 45,832,770 |
| Rental | 13,118,572 | 11,907,621 |
| income | ||
| Other | 5,787,952 | 5,952,703 |
| revenue | ||
| Total revenues | 72,355,048 | 67,066,222 |
| Costs | ||
| and | ||
| expenses | ||
| Cost | 2,310,482 | 3,374,481 |
| of | ||
| goods | ||
| gold | ||
| Selling, | 44,067,902 | 37,229,030 |
| general, | ||
| and | ||
| administrative | ||
| Depreciation | 4,536,793 | 4,092,237 |
| and | ||
| amortization | ||
| Total | 50,915,177 | 44,695,748 |
| costs | ||
| and | ||
| expenses | ||
| Operating | 21,439,871 | 22,370,474 |
| Income | ||
| Other | ||
| income | ||
| Interest | 64,168 | 199 |
| income | ||
| Foreign | 8,040 | (43,356) |
| currency | ||
| exchange | ||
| Gain | - | 253,092 |
| on | ||
| sale | ||
| of assets | ||
| Total | 72,208 | 209,935 |
| other | ||
| income, | ||
| net | ||
| Income | 21,512,079 | 22,580,409 |
| before | ||
| taxes | ||
| Income | 8,942,992 |
Source: Item 6 — Other Intangibles and Goodwill (FDD pages 274–314)
What This Means (2025 FDD)
According to My Salon Suite's 2025 Franchise Disclosure Document, the advertising expenses are included within the selling, general, and administrative expenses. For the year ended December 31, 2023, the selling, general, and administrative expenses totaled $44,067,902.
This figure represents the total costs associated with these categories, and it is not broken down to show advertising expenses separately. Prospective franchisees should recognize that advertising costs are embedded within this larger expense category.
Understanding the components of the selling, general, and administrative expenses is crucial for franchisees to assess the financial health and operational efficiency of My Salon Suite. While the specific advertising expenses are not delineated, the overall figure provides insight into the scale of operational and marketing investments made by the company. Franchisees may want to inquire about a more detailed breakdown of these expenses to better understand the allocation of resources towards advertising and other key areas.