What was the net income (loss) for Caring Senior Service in 2022?
Caring_Senior_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | 2022 | ||
|---|---|---|---|---|
| Revenues | ||||
| Royalty fees | $2,112,484 | $ 1,951,540 | $ 1,682,759 | |
| Franchise sales and renewal fees | 182,156 | 195,278 | 206,868 | |
| Technology fee revenue | 1,091,807 | 876,001 | 528,246 | |
| Reimbursed charges from franchises, net | 205,963 | 444,914 | 247,305 | |
| Total Revenue | 3,592,410 | 3,467,733 | 2,665,178 | |
| Operating Expenses | ||||
| General and administrative expenses | 1,173,689 | 1,525,555 | 1,403,766 | |
| Partners' compensation | 62,000 | 65,000 | 66,000 | |
| Technology fee expense | 1,066,368 | 757,400 | 664,191 | |
| Employee lease expense | 852,689 | 1,276,777 | 988,026 | |
| Total Operating Expenses | 3,154,746 | 3,624,732 | 3,121,983 | |
| Net Operating (Loss) Income Before | ||||
| State Franchise Tax Provision | 437,664 | (156,999) | (456,805) | |
| State franchise tax provision | ( 18,648) | (17,968) | (7,981) | |
| Net Income (Loss) | $ 419,016 | $ (174,967) | $ (464,786) |
Source: Item 23 — RECEIPTS (FDD pages 53–204)
What This Means (2025 FDD)
According to Caring Senior Service's 2025 Franchise Disclosure Document, the company experienced a net loss of $464,786 in 2022. This figure provides a snapshot of the company's financial performance during that specific year. A prospective franchisee should recognize that past financial performance is not necessarily indicative of future results.
It is important to consider this net loss in the context of Caring Senior Service's overall financial history. The document also shows a net loss of $174,967 in 2023, followed by a net income of $419,016 in 2024. Reviewing these trends can offer a more comprehensive understanding of the company's financial trajectory and potential for profitability.
A potential franchisee should investigate the reasons behind the net loss in 2022. Understanding the factors that contributed to the loss, such as increased operating expenses or decreased revenue, can help a franchisee assess the risks and opportunities associated with investing in a Caring Senior Service franchise. Furthermore, comparing Caring Senior Service's financial performance to other franchises in the senior care industry can provide valuable insights and benchmarks.
Ultimately, a prospective franchisee should consult with a financial advisor to thoroughly analyze Caring Senior Service's financial statements and assess the potential risks and rewards of investing in the franchise. Understanding the company's financial history, including periods of net loss, is crucial for making an informed investment decision.