What was the Caring Transitions net income in 2024?
Caring_Transitions Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Revenue: | |||
| Revenue from franchise agreements | $ 7,731,280 | 6,565,467 | 5,031,029 |
| National Branding Fund revenue | 2,008,018 | 1,760,093 | 1,447,978 |
| 9,739,298 | 8,325,560 | 6,479,007 | |
| Expenses: | |||
| Advertising & marketing | 726,488 | 663,540 | 535,926 |
| Bank & payroll fees | 5,756 | 10,164 | 6,248 |
| Computer expenses | 197,874 | 156,949 | 282,073 |
| Depreciation | 48,334 | 56,596 | 46,554 |
| Dues & subscriptions | 692 | 1,627 | 1,178 |
| Employee-related expenses | 17,703 | 17,688 | 10,653 |
| Insurance | 24,161 | 14,569 | 10,052 |
| Leased employees expenses | 2,784,955 | 2,196,943 | 1,987,285 |
| Licenses | 4,418 | 4,723 | 2,122 |
| National Branding Fund expenses | 1,738,015 | 1,452,123 | 1,316,876 |
| Office & supplies | 15,916 | 14,690 | 13,923 |
| Postage | 4,327 | 4,583 | 4,990 |
| Professional fees | 321,350 | 275,662 | 297,712 |
| Rent | 118,615 | 113,918 | 108,924 |
| Repairs & maintenance | 1,221 | 680 | 190 |
| Sales related expenses | 541,980 | 559,221 | 527,523 |
| Telephone | 81,013 | 32,391 | 33,697 |
| Training & meetings | 230,038 | 165,798 | 204,102 |
| Website expenses | 146,755 | 163,931 | 2,132 |
| Total expenses | 7,009,611 | 5,905,796 | 5,392,160 |
| Income from operations | 2,729,687 | 2,419,764 | 1,086,847 |
| Other income (expense): | |||
| Interest income | 24,656 | 9,850 | 3,225 |
| Interest expense | (804) | (1,753) | (3,734) |
| Other income | 689 | 150 | 6,463 |
| State & local taxes | (33,955) | (98,937) | (75,278) |
| Total other expense | (9,414) | (90,690) | (69,324) |
| Net income | $ 2,720,273 | 2,329,074 | 1,017,523 |
| Retained earnings, beginning | 924,955 | 543,380 | 618,358 |
| Distributions | (1,705,000) | (1,947,499) | (1,092,501) |
| Retained earnings, ending | $ 1,940,228 | 924,955 | 543,380 |
Source: Item 23 — RECEIPT (FDD pages 49–202)
What This Means (2025 FDD)
According to Caring Transitions' 2025 Franchise Disclosure Document, the company's net income for the year 2024 was $2,720,273. This figure represents the profit Caring Transitions retained after deducting all expenses from its total revenue for that year. This net income figure is a key indicator of the financial performance and overall profitability of the company during that period.
In addition to net income, the FDD provides a breakdown of Caring Transitions' revenues and expenses. In 2024, Caring Transitions' revenue from franchise agreements totaled $7,731,280, and revenue from the National Branding Fund was $2,008,018, bringing the total revenue to $9,739,298. Expenses for the same year included advertising and marketing ($726,488), leased employee expenses ($2,784,955), and National Branding Fund expenses ($1,738,015), with total expenses amounting to $7,009,611.
The FDD also shows Caring Transitions' income from operations in 2024 was $2,729,687. After accounting for other income and expenses, such as interest income ($24,656), interest expense ($-804), and state and local taxes ($-33,955), the net income was calculated to be $2,720,273. At the beginning of the year, retained earnings were $924,955, and after distributions of $1,705,000, the retained earnings at the end of 2024 were $1,940,228.
Prospective franchisees should consider these figures in the context of the overall financial health of Caring Transitions. Reviewing trends in revenue, expenses, and net income over the three years presented (2022-2024) can provide insights into the stability and growth potential of the franchise system. It's also important to compare these figures with those of other franchises in the senior care and transition services industry to assess Caring Transitions' competitive position.