What was the amount of cash and cash equivalents at the beginning of 2024 for Caring Senior Service?
Caring_Senior_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
ears Ended December 31, 2024, 2023, and 2022**
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Operating Activities | |||
| Net income (loss) | $ 419,016 | $ (174,967) | $ (464,786) |
| Adjustments to Reconcile Net Loss to Net Cash | |||
| Provided (Used) by Operating Activities: | |||
| Depreciation expense | 5,627 | 9,644 | 9,644 |
| Changes in: | |||
| Accounts receivable | (64,728) | 57,854 | 64,930 |
| Prepaid expenses | 12,560 | 47,249 | (23,911) |
| Accounts payable | (8,512) | (6,701) | 108,326 |
| Interest payable | 37,212 | - | - |
| Grab the bars fundraiser liability | - | - | (109,343) |
| Employee lease liability - related party | (5,461) | 42,588 | 19,804 |
| Accrued state franchise taxes | 5,185 | 7,203 | (1,503) |
| Deferred franchise fees | 38,244 | 40,967 | (71,868) |
| Net Cash Provided (Used) by Operating Activities | 439,143 | 23,837 | (468,707) |
| Investing Activities | |||
| Net changes in notes receivable | (51,846) | 12,000 | (10,450) |
| Net changes in loans to partner-owned entities | (116,539) | (100,000) | (52,000) |
| Net Cash Provided (Used) by Investing Activities | (168,385) | (88,000) | (62,450) |
| Financing Activities | |||
| Principal payments on long-term debt | (8,135) | (8,840) | (7,966) |
| Proceeds from related party note | - | 200,000 | - |
| Partner Distributions | - | - | (593) |
| Net Cash Provided (used) by Financing Activities | (8,135) | 191,160 | (8,559) |
| Net Increase (Decrease) in Cash and Cash Equivalents | 262,623 | 126,997 | (539,716) |
| Cash and Cash Equivalents at Beginning of Year | 257,005 | 130,008 | 669,724 |
| Cash and Cash Equivalents at End of Year | $ 519,628 | $ 257,005 | $ 130,008 |
| Supplemental Disclosures of Cash Flow Information: | |||
| Interest paid | $ 25,687 | $ 389 | $ 1,263 |
| State franchi |
Source: Item 23 — RECEIPTS (FDD pages 53–204)
What This Means (2025 FDD)
According to Caring Senior Service's 2025 Franchise Disclosure Document, the amount of cash and cash equivalents at the beginning of 2024 was $257,005. This figure represents the Partnership's liquid assets available at the start of the year, which can be used for operational expenses, investments, or other business activities.
For a prospective franchisee, understanding the franchisor's cash position is crucial as it indicates the financial health and stability of the company. A strong cash position suggests that Caring Senior Service is capable of supporting its franchisees and investing in the growth of the franchise system.
However, it is important to note that this is just one data point and should be considered alongside other financial metrics and information provided in the FDD. Reviewing the trends in cash flow, net income, and liabilities will provide a more comprehensive understanding of Caring Senior Service's financial performance and stability.