What was the net income for C12 Group in 2023?
C12_Group Franchise · 2025 FDDAnswer from 2025 FDD Document
1, 2022 | 1,843,880 | | Net income | 1,125,446 | | Distributions | (280,216) | | Balance at December 31, 2023 | $ 2,689,110 | THE C12 GROUP, LLC Statements of Cash Flows Years Ended December 31, 2023 and 2022
| 2023 | 2022 | |
|---|---|---|
| Operating Activities | 8 | |
| Net income | $ 1,125,446 | $ 640,867 |
| Adjustments to reconcile net income to net | ||
| cash provided by operating activities: | ||
| Depreciation | 10,877 | 79,368 |
| Amortization | 104,441 | 22,103 |
| Gain from sale of subsidiary | (276,066) | ~ |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (56,496) | (84,865) |
| Supplies inventory | (40,497) | (63,920) |
| Prepaid expenses | (386) | 12,669 |
| Operating lease right-of-use asset | 139,987 | 124,177 |
| Accounts payable | (32,396) | 51,858 |
| Accrued expenses | (40,024) | (1,643) |
| Operating lease righ-of-use liability | (129,948) | (131,509) |
| Other assets | (3,669) | |
| Unearned revenue | (675,786) | 815,784 |
| Net cash provided by operating activities | 125,483 | 1,464,889 |
| Investing Activities | ||
| Purchases of property and equipment | (168,879) | (102,668) |
| Repayments on related party note receivable | 231,605 | |
| Net cash provided (used) by investing activities | 62,726 | (102,668) |
| Financing Activities | ||
| Distributions | (280,216) | (109,518) |
| Net cash (used) by financing activities | (280,216) | (109,518) |
| Change in cash and cash equivalents | (92,007) | 1,252,703 |
| Cash and cash equivalents at beginning of year | 1,933,369 | 680,666 |
| Ca |
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to C12 Group's 2025 Franchise Disclosure Document, the company's net income for the year 2023 was $1,125,446. This figure is derived from the Statements of Cash Flows, which details the reconciliation of net income to net cash provided by operating activities. The document also provides comparative data for 2022, showing a net income of $640,867 for that year.
This information is crucial for potential franchisees as it provides insight into the financial performance and profitability of C12 Group. A strong net income suggests that the company is well-managed and has a sustainable business model. Franchisees can use this data to assess the overall financial health of the franchisor and its ability to support its franchisees.
However, it's important to note that net income is just one aspect of financial performance. Prospective franchisees should also consider other factors such as revenue, expenses, assets, and liabilities to get a comprehensive understanding of C12 Group's financial position. Additionally, they should compare these figures to industry benchmarks to determine how C12 Group performs relative to its competitors. Reviewing the complete audited financial statements, including the balance sheets and statements of changes in member equity, is essential for a thorough financial assessment.