What was the net income (loss) from operating activities for Caring Senior Service in 2022?
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 net loss from operating activities in 2022 was $(464,786). This figure reflects the company's financial performance in its core business operations during that year, prior to accounting for investing and financing activities.
It is important to note that this is a loss, indicating that Caring Senior Service's operating expenses exceeded its operating revenues in 2022. A prospective franchisee should investigate the reasons for this loss by comparing it to the revenues and expenses.
Understanding the factors contributing to this loss is crucial for potential franchisees. They should inquire about the specific strategies Caring Senior Service has implemented to improve profitability and whether these strategies have been successful in subsequent years. Reviewing the complete financial statements and understanding the context behind these numbers is essential for making an informed investment decision.