What was the total property and equipment value for Caring Transitions in 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 |
| Computer equipment | 30,428 | 30,428 | 30,428 |
| Leasehold improvements | 40,610 | 40,610 | 40,610 |
| 1,348,452 | 1,053,732 | 753,372 | |
| Accumulated depreciation | (367,508) | (253,387) | (144,122) |
| 980,944 | 800,345 | 609,250 | |
| Other assets: | |||
| Franchise contract asset | 279,182 | 194,035 | 125,690 |
| Operating right-of-use asset | 485, |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 49)
What This Means (2025 FDD)
According to Caring Transitions' 2025 Franchise Disclosure Document, the company's total property and equipment value in 2024 was $980,944. This figure is calculated by taking the initial property and equipment value of $1,348,452 and subtracting the accumulated depreciation of $367,508.
Specifically, the initial property and equipment value includes internal-use software costs ($1,277,414), computer equipment ($30,428), and leasehold improvements ($40,610). These assets are subject to depreciation over time, which is reflected in the accumulated depreciation amount. The net value represents the book value of these assets as of the end of 2024.
Prospective franchisees should understand how Caring Transitions values its assets and how depreciation is accounted for, as this can impact the company's overall financial health and profitability. Reviewing these figures over the three-year period (2022-2024) can provide insights into the company's investment in its infrastructure and how these assets contribute to its operations.