Earnings Claims of Top Franchises Revealed

Earnings Claims of Top Franchises Revealed

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FDD Talk 2013: Average Net Sales, Cost of Goods Sold, Labor Costs, and Rent of Franchised Great American Cookies Stores (2013 FDD)

by Franchise Chatter on July 16, 2013

in Cookie Franchise, Franchise Earnings

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Highlights of Great American Cookies’ Item 19 Financial Performance Representations (2013 FDD)

Explanatory Notes

  • The data below presents historical revenue and limited expense information for calendar year 2012 for certain franchised Great American Cookies Stores. The expenses listed below do not reflect any start-up expenses that you may incur.
  • Great American Cookies Photo by RetailByRyan95The sample used to obtain this information includes only franchised traditional Stores that had been continuously in operation for the entire calendar year 2012, that were not co-branded with another concept or supplemented with satellite locations, and that provided the company with the presented financial information for the full calendar year 2012.
  • The computation for Average Net Sales includes franchised Stores which met the following criteria:  (1) was open for all of 2012; (2) was a traditional format; and (3) was not co-branded.
  • There were 297 franchised Stores open and operating as of December 31, 2012. Of these, 184 Stores are traditional Stores that were open the entire calendar year of 2012 and were included in the computation. Of the 113 Stores that were not included in the computation, 30 Stores were non-traditional Stores, 54 Stores were co-branded Stores, and 29 locations were not open for the entire calendar year of 2012.
  • Of the 184 Stores represented in the sample, 81 Stores (44.02%) attained or exceeded the Average Net Sales in the table below.
  • The computation for Same Unit Sales includes franchised locations that were open for the entire calendar year of 2012 and 2011.
  • Cost of Goods Sold includes costs such as the cost of food ingredients used to make finished products, shipping charges, etc.
  • Labor Costs may include costs such as salaries and wages for full-time and part-time employees, employer contributions for F.I.C.A. taxes, federal unemployment taxes, workers’ compensation, group health insurance, if any, 401(k), if any, wages for contracted labor, expense of “help wanted” ads, employee training expenses, etc.
  • Rent may include costs such as flat rent, percentage rent, common area maintenance, depreciation of leasehold improvements, depreciation of fixtures and equipment, real estate commissions, real estate taxes, real estate insurance, utilities, etc.
  • There are other expenses in operating a Store that are not identified in the table below.
  • A franchisee may be a multi-store operator but counted in the 1-2 Store category because of all of his or her Stores, only 1 or 2 satisfied all required criteria (applicable to larger Store categories under the same rationale).
  • The data below was taken from financial reports submitted by franchisees. The company has not audited or verified these reports, although it has no information or other reason to believe that they are unreliable.

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