What was the total amount of franchise fees that Southern Steer collected in 2023?
Southern_Steer Franchise · 2025 FDDAnswer from 2025 FDD Document
ic performance obligations in its contracts with customer-franchisees. The Company's income from operations is comprised of two components: (1) franchise fees as consideration for services and expertise provided in connection with the formation and ongoing operation of its franchisees
Source: Item 5 — and 7 of the FDD, Section 3.1 of the Franchise Agreement and Section 4.1 of the Multi-Unit Development Agreement are hereby amended to state that payment of the initial franchise fee and development fee will be deferred until We have satisfied Our pre-opening obligations, and You have commenced business operations. (FDD pages 168–290)
What This Means (2025 FDD)
Based on the 2025 Southern Steer Franchise Disclosure Document, it is not possible to determine the total amount of franchise fees that Southern Steer collected in 2023. While the document includes financial statements and discusses revenue recognition, it does not provide a specific figure for the total franchise fees collected during that year. The financial statements included in the FDD are as of September 30, 2024 and 2023, and for the years ended September 30, 2024 and 2023, but they do not break down the specific amount of franchise fees collected.
The notes to the financial statements mention that the company's income from operations comprises franchise fees and royalties, but they do not provide the specific amounts for each. Franchise fees are described as consideration for services and expertise provided in connection with the formation and ongoing operation of its franchisees. Royalties are measured as a proportion of franchisee gross revenues.
To get an accurate figure for the total franchise fees collected in 2023, a prospective franchisee should ask Southern Steer directly for this information. This information would be helpful in evaluating the financial performance and stability of the franchisor.