What is the difference between Caring Transitions' internal-use software costs in 2023 and 2024?
Caring_Transitions Franchise · 2025 FDDAnswer from 2025 FDD Document
that we identified during the audit.
Clark, Schaefer, Hackett & Co.
Cincinnati, Ohio March 24, 2025
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Assets | |||
| Current assets: | |||
| Cash | $ 2,075,001 | 949,879 | 979,239 |
| Restricted cash | 239,784 | 170,591 | 115,694 |
| Accounts receivable | 706,468 | 532,863 | 389,795 |
| Other receivables | - | - | 6,463 |
| 3,021,253 | 1,653,333 | 1,491,191 | |
| Property and equipment: | |||
| Internal-use software costs | 1,277,414 | 982,694 | 682,334 |
| C |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 49)
What This Means (2025 FDD)
According to Caring Transitions' 2025 Franchise Disclosure Document, the company's internal-use software costs were $982,694 in 2023 and $1,277,414 in 2024. This represents an increase of $294,720 in internal-use software costs from 2023 to 2024.
For a prospective franchisee, this information provides insight into Caring Transitions' investment in its internal technology. The increase in software costs could indicate ongoing development, upgrades, or expansion of the software used to support franchise operations. This may translate to better tools and resources for franchisees to manage their businesses, potentially improving efficiency and customer service.
However, it's important to consider that increased technology investment doesn't always guarantee better outcomes. Franchisees should inquire about the specific benefits and features of the software, how it impacts their day-to-day operations, and whether there are any associated training or support costs. Understanding the return on investment for these software costs is crucial for assessing the overall value proposition of the Caring Transitions franchise.