What was the income from operations for Canopy Lawn Care in 2024?
Canopy_Lawn_Care Franchise · 2025 FDDAnswer from 2025 FDD Document
ED STATEMENTS OF INCOME FOR THE YEARS ENDING SEPTEMBER 30, 2024, 2023, AND 2022
| 2024 | 2023 ("As Restated") | 2022 ("As Restated") | |
|---|---|---|---|
| Revenue | |||
| Fencing and rail revenues | $ 24,961,275 | $ 23,390,797 | $ 16,879,944 |
| Franchise royalties and fees | 31,551,158 | 21,471,627 | 13,380,514 |
| Product sales | 11,624,045 | 9,875,832 | 8,878,823 |
| Residential and commercial roofing | 5,849,769 | 4,131,506 | - |
| Window and door installation | 3,448,901 | 1,058,329 | - |
| Franchise fees | 12,430,539 | 10,807,586 | 5,641,473 |
| Ancillary | 7,854,946 | 5,721,908 | 2,553,819 |
| Advertising fund contributions | 4,525,890 | 3,075,049 | 2,159,470 |
| 102,246,523 | 79,532,634 | 49,494,043 | |
| Cost of Product Sales | 26,068,176 | 24,051,826 | 16,544,077 |
| Operating Expenses | 45,261,207 | 37,487,987 | 21,404,407 |
| Income from Operations | 30,917,140 | 17,992,821 | 11,545,559 |
| Other Income (Expense) | |||
| Depreciation and amortization | (10,773,355) | (7,910,727) | (5,494,567) |
| Other income | 315,233 | (161,414) | 38,521 |
| (10,458,122) | (8,072,141) | (5,456,046) | |
| Net Income Before Noncontrolling Interest | 20,459,018 | 9,920,680 | 6,089,513 |
| Loss Attributable to Noncontrolling Interest | 176,630 | 120,083 | - |
| Net Income Attributable to Outdoor Living | $ |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 55)
What This Means (2025 FDD)
According to Canopy Lawn Care's 2025 Franchise Disclosure Document, the income from operations for the parent company, Outdoor Living Brands, which had acquired 60% of Canopy Lawn Care in June 2023, was $30,917,140 for the year 2024. This figure reflects the consolidated income from operations of Outdoor Living Brands and its subsidiaries, including Canopy Lawn Care.
It's important to note that this number represents the overall financial performance of Outdoor Living Brands, not just the Canopy Lawn Care franchise individually. The financial statement includes revenue from various sources, such as fencing and rail revenues, franchise royalties and fees, product sales, residential and commercial roofing, window and door installation, franchise fees, ancillary services, and advertising fund contributions.
Prospective franchisees should understand that the income from operations is a key indicator of the financial health of the parent company. However, it does not directly translate to the potential profitability of an individual Canopy Lawn Care franchise. Factors such as local market conditions, operating expenses, and the franchisee's management skills will significantly impact the actual financial performance of their franchise.
Therefore, while this information provides a general overview of the financial status of Outdoor Living Brands, potential franchisees should conduct their own due diligence and consult with financial advisors to assess the specific financial prospects of investing in a Canopy Lawn Care franchise.