What were the total contributions for Pump It Up as of December 31, 2024?
Pump_It_Up Franchise · 2025 FDDAnswer from 2025 FDD Document
| Contributions | Deficit | Total | ||
|---|---|---|---|---|
| BALANCE - DECEMBER 31, 2022 | $ 10,525,000 | $ (6,418,522) | $ 4,106,478 | |
| Net Income | - | 1,721,880 | 1,721,880 | |
| BALANCE - DECEMBER 31, 2023 | 10,525,000 | (4,696,642) | 5,828,358 | |
| Distributions | - | (1,260,000) | (1,260,000) | |
| Net Income | - | 1,690,253 | 1,690,253 | |
| BALANCE - DECEMBER 31, 2024 | $ 10,525,000 | $ (4,266,389) | $ 6,258,611 |
Source: Item 23 — RECEIPTS (FDD pages 60–225)
What This Means (2025 FDD)
According to Pump It Up's 2025 Franchise Disclosure Document, the total contributions as of December 31, 2024, were $10,525,000. After accounting for a deficit of $4,266,389, the total balance was $6,258,611.
This figure represents the cumulative financial contributions made to the Pump It Up franchise system up to that date. It's important to note that this contribution amount is offset by a deficit, which could be due to various factors such as expenses exceeding revenues or other financial obligations. The balance reflects the net financial position of the contributions after accounting for this deficit.
Prospective franchisees should consider this information in the context of the overall financial health of the Pump It Up franchise. Understanding the nature of the contributions and the reasons behind the deficit is crucial for assessing the financial stability and potential risks associated with investing in a Pump It Up franchise. It would be prudent to discuss these figures with the franchisor to gain a clearer understanding of the financial dynamics at play.