What was the total partners' capital for Caring Senior Service as of December 31, 2022?
Caring_Senior_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
rs Ended December 31, 2024, 2023, and 2022**
| Partners' Capital | Receivable from Partner-Owned Entities | Total | |
|---|---|---|---|
| Partners' capital, December 31, 2021 | $ 254,205 | (315,100) | (60,895) |
| Loans to partner-owned entities | $ - | $ (52,000) | (52,000) |
| Distributions | (593) | - | (593) |
| Net loss | (464,786) | - | (464,786) |
| Partners' capital, December 31, 2022 | (211,174) | (367,100) | (578,274) |
| Loans to partner-owned entities | - | (100,000) | (100,000) |
| Net loss | (174,967) | - | (174,967) |
| Partners' capital, December 31, 2023 - restated | (386,141) | (467,100) | (853,241) |
| Loans to partner-owned entities | - | (116,539) | (116,539) |
| Net Income | 419,016 | - | 419,016 |
| Partners' capital, December 31, 2 |
Source: Item 23 — RECEIPTS (FDD pages 53–204)
What This Means (2025 FDD)
According to Caring Senior Service's 2025 Franchise Disclosure Document, the total partners' capital as of December 31, 2022, was a deficit of ($578,274). This figure is calculated by combining the partners' capital deficit of ($211,174) with a receivable from partner-owned entities of ($367,100). This indicates that the liabilities and obligations of Caring Senior Service exceeded its assets at that time.
It is important to note that the partners' capital can fluctuate due to several factors, including net income or loss, distributions to partners, and loans to partner-owned entities. In this case, Caring Senior Service experienced a net loss of ($464,786) in 2022, which contributed to the overall deficit in partners' capital. Additionally, loans to partner-owned entities further reduced the partners' capital.
A prospective franchisee should carefully consider the financial health of Caring Senior Service, including its partners' capital, as it may impact the franchisor's ability to support its franchisees. It is advisable to review the complete financial statements and consult with a financial advisor to assess the risks and opportunities associated with investing in a Caring Senior Service franchise.