What was the franchise fee revenue for Zoomin Groomin in 2023?
Zoomin_Groomin Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| ASSETS | |||
| Current Assets | |||
| Cash and Cash Equivalents | $ 71,234 | $ 111,382 | $ 4,894 |
| Inventory | - | 7,308 | 84,180 |
| Accounts Receivable | 386,516 | 212,876 | 161,766 |
| Prepaid Expenses | 1,530 | 1,538 | 28 |
| Income Tax Asset | 712,478 | 385,004 | - |
| Due From Affiliates | 4,819,061 | 2,429,123 | 176,000 |
| Total Current Assets | 5,990,819 | 3,147,231 | 426,868 |
| Other Assets | |||
| Intangible Assets, Net | 66,000 | 72,000 | 78,000 |
| Notes Receivable | 112,937 | 170,063 | 255,386 |
| Total Other Assets | 178,937 | 242,063 | 333,386 |
| TOTAL ASSETS | $ 6,169,756 | $ 3,389,294 | $ 760,254 |
| LIABILITIES & EQUITY | |||
| Current Liabilities | |||
| Accounts Payable | $ 12,509 | $ 83,586 | $ 2,056 |
| Due To Affiliates | - | 45,000 | 171,504 |
| Unearned Revenue | 100,000 | 40,000 | - |
| Deferred Tax Asset | 712,478 | 385,004 | - |
| Deferred Revenue - Current | 1,006,725 | 520,782 | 39,540 |
| Total Current Liabilities | 1,831,712 | 1,074,372 | 213,100 |
| Long-Term Liabilities | |||
| Deferred Revenue | 7,974,307 | 4,125,904 | 1,240,410 |
Source: Item 9 — 01. Financial Statements and Exhibits. (FDD pages 68–156)
What This Means (2025 FDD)
According to Zoomin Groomin's 2025 Franchise Disclosure Document, the franchise fee revenue for 2023 was $260,076. This indicates the income Zoomin Groomin received from initial franchise fees paid by new franchisees joining the system during that year.
For a prospective franchisee, this figure provides insight into the brand's growth and appeal. A higher franchise fee revenue in 2023 compared to 2022 ($24,545) suggests increased interest in the Zoomin Groomin franchise opportunity. This could be due to various factors, such as successful marketing efforts, positive franchisee performance, or favorable market conditions.
However, it's important to consider this revenue in conjunction with other financial metrics. While a growing franchise fee revenue is generally positive, it doesn't guarantee overall profitability or success for individual franchisees. Prospective franchisees should also examine the royalty revenue, marketing revenue, and expenses to gain a comprehensive understanding of Zoomin Groomin's financial health and the potential return on investment.
Franchise fee revenue can fluctuate from year to year based on the number of new franchise agreements signed. A significant drop in franchise fee revenue in subsequent years could signal challenges in attracting new franchisees, which might warrant further investigation.