What was the total reported expense for Caring Senior Service's software in 2022?
Caring_Senior_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
ILITY COMPANY
| At December 31, 2024, 2023, and 2022 Property and Equipment consisted of the following: | ||||
|---|---|---|---|---|
| 2024 | 2023 | 2022 | ||
| Software | $ 260,544 | $ 260,544 $ | 260,544 | |
| Automobile | 4 8,223 | 48,223 | 48,223 | |
| Office and Computer Equipment | 17,426 | 17,426 | 17,426 | |
| Total Property and Equipment | 326,193 | 326,193 | 326,193 | |
| Less Accumulated Depreciation | (326,193) | (320,566) | (310,922) | |
| Property and Equipment, Net of Depreciation | $ - | $ 5,627 $ | 15,271 | |
| 2024 | 2023 | 2022 | ||
| --- | --- | --- | --- | |
| Revenue: | ||||
| Royalty fees | $ 382,217 | $ 333,983 | $ 342,194 | |
| Software fees | 82,681 | 95,303 | 75,469 | |
| Reimbursed charges from franchises | 89,943 | 61,382 | 55,992 | |
| Total Revenue | $ 554,841 | $ 490,668 | $ 473,655 | |
| Amounts included in Accounts Receivable - Trade | ||||
| at Decemb |
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's software expenses are reflected in their financial statements. The total value of software reported as property and equipment for the year 2022 was $260,544. This indicates the initial capitalized cost of the software.
It's important to note that this figure represents the original cost of the software and not necessarily the annual expense. The annual expense related to the software could be in the form of amortization or depreciation of this asset over its useful life, or in the form of software fees. The accumulated depreciation was ($310,922) in 2022, and the net property and equipment, after depreciation, was $15,271.
In addition to the capitalized software costs, Caring Senior Service also reported software fees as revenue. In 2022, the software fees totaled $75,469. These fees are distinct from the capitalized software costs and likely represent ongoing charges to franchisees or other customers for software usage or licensing. A prospective franchisee should clarify with Caring Senior Service what portion of the initial and ongoing technology costs they will bear.