What was the total selling, general, and administrative expenses for My Salon Suite in 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 |
| c |
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 total selling, general, and administrative expenses for the year ending December 31, 2023, were $44,067,902. This figure reflects the costs associated with the company's sales and marketing efforts, as well as the general overhead and administrative functions required to operate the My Salon Suite franchise system.
For a prospective franchisee, understanding this expense is crucial as it provides insight into the operational costs incurred by My Salon Suite. While franchisees do not directly pay these expenses, the franchisor's ability to manage them efficiently can impact the overall financial health and stability of the franchise system. Higher expenses could potentially lead to increased fees or reduced support services in the future, while effective cost management could translate to better resource allocation and franchisee support.
It's also important to note that these expenses are part of the broader financial picture, which includes revenues, cost of goods, depreciation, and other income and expenses. By examining the complete financial statement, potential franchisees can gain a more comprehensive understanding of My Salon Suite's financial performance and its ability to generate profits. This information, combined with other factors such as market trends and competitive landscape, can help franchisees make informed decisions about their investment.