SPAVIA

Data Based On: 55 franchised locations open for the full 2024 calendar year provided annual gross sales data. A subset of 32 of these locations provided cash flow data.

* Annual Gross Sales data (55 locations) for revenue_top_quartile and revenue_bottom_quartile was calculated by taking the average of the top 14 (25th percentile) and bottom 14 (25th percentile) locations, respectively, from the provided list of 55 franchised locations' annual gross sales. The list was already in descending order. Top 25% average: $1,584,718.86. Bottom 25% average: $654,602.14. Average EBITDA (Cash Flow from Operations) of $236,208 for 32 locations was used for average_ebitda. Operating Margin (20.6%) for these 32 locations was used for ebitda_margin_pct. For best_guess_profit_low and best_guess_profit_high, average_ebitda ($236,208) was used as the high estimate. The low estimate ($177,156) was derived by assuming approximately 25% of EBITDA would be deducted for items explicitly excluded from 'Cash Flow from Operations' such as depreciation, amortization, debt interest, owner salary/withdrawal, home office expenses, business meals and travel, and managerial expenses (i.e., $236,208 * (1 - 0.25)).