What was the total revenue and income for Precision Door Service in 2024?
Precision_Door_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
3,027,260 | 3,111,215 | | Total liabilities and member's equity | $ 3,115,790 | $ 3,198,930 |
Combined Statements of Operations and Comprehensive Income ($000's)
| For the years ended December 31, | 2024 | 2023 |
|---|---|---|
| Revenues and income | ||
| Franchise service fees | $ 180,984 | 169,842 |
| Synthetic royalties and master license fees | 28,242 | 28,705 |
| Franchise sales fees | 33,680 | 36,783 |
| Sales of products and services | 140,458 | 143,807 |
| Advertising and promotional fund revenue | 47,800 | 42,404 |
| Other | 30,502 | 30,338 |
| revenue | ||
| Total revenues and income | 461,666 | 451,879 |
| Cost of Sales | ||
| Products and services | 72,612 | 68,752 |
| Gross Profit | 389,054 | 383,127 |
| Selling expense | 15,364 | 6,939 |
| General and administrative expense | 17,967 | 18,705 |
| Advertising and promotional fund expense | 49,981 | 47,365 |
| Depreciation and amortization | 95,532 | 97,290 |
| Management expenses | 47,126 | 44,075 |
| Bad debt expense | 3,714 | 2,283 |
| Net income | $ 1 |
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 2024 was $461,666. This figure represents the sum of several revenue streams, including franchise service fees, synthetic royalties and master license fees, franchise sales fees, sales of products and services, advertising and promotional fund revenue, and other revenue. Understanding the composition of this total revenue is important for prospective franchisees to assess the different sources of income for Precision Door Service.
In addition to total revenue, the FDD also provides information on Precision Door Service's net income for 2024, which was $159,370. Net income is calculated by subtracting various expenses from the gross profit. These expenses include selling expenses, general and administrative expenses, advertising and promotional fund expenses, depreciation and amortization, management expenses, and bad debt expense.
For a potential franchisee, these figures offer a glimpse into the financial performance of Precision Door Service. While revenue indicates the overall sales volume, net income reflects the profitability of the company after accounting for all costs. Reviewing these financial statements can help a prospective franchisee understand the financial health and stability of Precision Door Service. It's important to note that past performance does not guarantee future results, and franchisees should conduct their own due diligence and consult with financial advisors to make informed decisions.