What were the member contributions for Zoomin Groomin in 2022?
Zoomin_Groomin Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Revenues | |||
| Franchise Fees | $ 496,101 | $ 260,076 | $ 24,545 |
| Marketing & Technology Revenue | 383,043 | 103,849 | 10,059 |
| Area Rep Sales Revenue | 485,389 | 484,754 | 55,248 |
| Royalty Revenue | 1,420,950 | 376,630 | 92,640 |
| Other Income | 40,000 | 113,749 | - |
| Interest Income | 73,831 | 57,843 | 23,128 |
| Total Revenues | 2,899,314 | 1,396,901 | 205,620 |
| Expenses | |||
| Advertising and Marketing | 919,283 | 280,833 | 96,532 |
| Amortization Expense | 6,000 | 6,000 | 6,000 |
| Area Rep Expense | 1,658,376 | 568,628 | 74,059 |
| Commissions and Consulting | 167,473 | 198,260 | 9,750 |
| Contract Labor | 48,517 | 4,025 | 3,750 |
| Filing Fees | 8,569 | 7,905 | 5,951 |
| Insurance Expense | 7,492 | 5,368 | 4,203 |
| Lease Expense | 27,258 | - | - |
| Legal and Professional | 68,861 | 12,145 | 10,294 |
| Licenses & Fees | 175 | 601 | 535 |
| Meal Expense | 11,695 | 10,425 | 5,372 |
| Meeting Expense | 832 | 2,027 | 10,737 |
| Office Expense | 18,731 | 6,775 | 10,885 |
| Overhead - Corporate | 634,593 | 394,933 | 118,779 |
| Overhead - Marketing & Sales | 662,427 | 743,021 | 205,038 |
| Payroll Taxes | 22,435 | 12,267 | 5,191 |
| Postage and Shipping | 3,622 | 1,810 | 1,463 |
| Salaries and Wages | 296,420 | 163,480 | 71,349 |
| Technology Expense | 30,152 |
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, member contributions in 2022 were zero. The provided financial statements show a breakdown of equity changes, including member contributions, distributions, and net income (loss) for the years 2022, 2023 and 2024.
Specifically, for the period ending December 31, 2022, the member contributions are listed as "-", indicating no contributions were made during that year. This information is crucial for prospective franchisees as it provides insight into the financial activities and equity structure of Zoomin Groomin during that period.
It's important to note that while there were no member contributions in 2022, the company experienced a net loss of $482,370, resulting in a decrease in equity. Understanding these financial dynamics can help potential franchisees assess the financial stability and performance of Zoomin Groomin.