What was the total revenue and income for Precision Door Service in 2023?
Precision_Door_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
0 335,404 (4,769) | $ 2,944,568 168,428 (22,873) | | Total Member's Equity | 3,111,215 | 3,090,123 | | Total liabilities and member's equity | $ 3,198,931 | $ 3,161,602 |
Combined Statements of Operations and Comprehensive Income ($000's)
| For the years ended December 31, | 2023 | (Restated) 2022 |
|---|---|---|
| Revenues and income | ||
| Franchise service fees | $ 169,842 | 152,248 |
| Synthetic royalties and master license fees | 28,705 | 22,879 |
| Franchise sales fees | 36,783 | 13,642 |
| Sales of products and services | 143,807 | 123,984 |
| Advertising and promotional fund revenue | 42,404 | 39,184 |
| Other | 30,338 | 32,014 |
| revenue | ||
| Total revenues and income | 451,879 | 383,951 |
| Cost of Sales | ||
| Products and services | 68,752 | 62,493 |
| Gross Profit | 383,127 | 321,458 |
| Selling expense | 6,939 | 8,274 |
| General and administrative expense | 18,705 | 9,033 |
| Advertising and promotional fund expense | 47,365 | 42,987 |
| Depreciation and amortization | 97,290 | 82,921 |
| Management expenses |
Source: Item 21 — Financial Statements (FDD page 91)
What This Means (2025 FDD)
According to Precision Door Service's 2025 Franchise Disclosure Document, the total revenues and income for the year ended December 31, 2023, was $451,879. This figure is comprised of several revenue streams, including franchise service fees ($169,842), synthetic royalties and master license fees ($28,705), franchise sales fees ($36,783), sales of products and services ($143,807), advertising and promotional fund revenue ($42,404), and other revenue ($30,338). This indicates the various ways Precision Door Service generates income.
In addition to total revenue, the FDD also details the expenses incurred by Precision Door Service. The cost of products and services totaled $68,752, resulting in a gross profit of $383,127. Further operating expenses included selling expenses ($6,939), general and administrative expenses ($18,705), advertising and promotional fund expenses ($47,365), depreciation and amortization ($97,290), management expenses ($44,075), and bad debt expense ($2,283).
After deducting all expenses, Precision Door Service reported a net income of $166,470 for 2023. Furthermore, the company had a foreign currency translation adjustment of $18,104, resulting in a comprehensive income of $184,574. A prospective franchisee should consider these figures in relation to the fees and costs associated with operating a Precision Door Service franchise, as outlined elsewhere in the FDD. Understanding the franchisor's financial performance can provide insights into the overall health and stability of the franchise system.