From which financial statements were the expense figures extracted for the My Salon Suite franchise?
My_Salon_Suite Franchise · 2025 FDDAnswer from 2025 FDD Document
The following Tables provide information regarding the average occupancy, square footage, number of suites, income, certain expenses, and net profit, as defined below. Also shown are the percentage of locations that meet or exceed the average for each category. All such information has not been audited and has not necessarily been prepared on a basis consistent with generally accepted accounting principles.
In addition to the average Gross Revenues analysis, certain expenses expressed as a percentage of Gross Revenues have been provided based on the experience of certain of the foregoing My Salon Suite Franchised Businesses described below. The expense figures were extracted from the 2024 financial statements submitted by the My Salon Suite Franchisees included in our 2024 Financial Benchmark Survey. As of the date of this Disclosure Document, we have not been provided with expense data from 29 of the 273 My Salon Suite Franchised Businesses open and in continuous operation during 2024). This was primarily due to the proximity of year-end to the time of compilation of these numbers and 29 My Salon Suite Franchised Businesses were not included in the expense figures provided herein. You should note that with respect to the 244 My Salon Suite Franchised Businesses included in the compilation of the expense figures, the expense data relates to operations conducted during the calendar year 2024.
Each percentage given on this analysis reflects the mean average or the median of the total percentages for the applicable expense item provided by the reporting My Salon Suite Franchised Businesses (i.e., the aggregate sum of the expense percentages of all reporting My Salon Suite Franchised Businesses divided by the number of reporting My Salon Suite Franchised Businesses). The expense percentages for the various expense items provided by each reporting My Salon Suite Franchised Business reflect My Salon Suite Franchised Business's expenses as a percentage of its Gross Sales. No percentage given in this analysis is the actual expenses percentage experienced by any one My Salon Suite Franchised Business and the actual expense percentages for the reporting My Salon Suite Franchised Business on any expense item may vary significantly.
Source: Item 19 — FINANCIAL PERFORMANCE REPRESENTATION (FDD pages 78–83)
What This Means (2025 FDD)
According to My Salon Suite's 2025 Franchise Disclosure Document, the expense figures provided in Item 19 were extracted from the 2024 financial statements submitted by My Salon Suite franchisees who participated in the 2024 Financial Benchmark Survey.
Out of 273 franchised businesses open and operating during 2024, 244 provided their expense data. The FDD notes that 29 locations did not submit data due to the timing of the survey relative to year-end closing. The expense data used in the financial performance representation pertains to operations conducted during the 2024 calendar year.
The expense figures are presented as a percentage of gross revenues, calculated as the mean or median average of the total percentages for each expense item reported by the participating franchisees. It is important to note that these percentages are averages and may not reflect the actual expenses experienced by any single My Salon Suite franchise. Prospective franchisees should be aware that their individual expenses can vary significantly.
The FDD also states that My Salon Suite has not audited the data and is unable to verify the accuracy of the expense information provided by franchisees. It encourages prospective franchisees to consult with financial, business, and legal advisors to conduct their own analysis of the data.