What were Cicis's approximate contributions to its 401(k) savings plan in 2023?
Cicis Franchise · 2025 FDDAnswer from 2025 FDD Document
ember 31, 2024 and 2023, the Company has a payable to an affiliate for these services in the amount of $0 and $583,611 respectively, recorded in related party payable on the combined balance sheets.
Note 3. 401(k) Savings Plan
The Company has a qualified cash or deferred compensation plan under section 401(k) of the Internal Revenue Code. Under the plan, employees may elect
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 58–64)
What This Means (2025 FDD)
According to Cicis's 2025 Franchise Disclosure Document, the company maintains a qualified cash or deferred compensation plan under section 401(k) of the Internal Revenue Code, allowing employees to defer a portion of their salary within IRS limits. Cicis may also make discretionary contributions to the plan.
In 2023, Cicis's contributions to the 401(k) savings plan were approximately $4,100. This figure provides a historical perspective on the company's investment in its employees' retirement savings.
Prospective franchisees should consider this information as part of their broader due diligence, understanding that employee benefits and compensation can impact the overall financial health and operational costs of a Cicis franchise. While this specific contribution amount may vary in future years, it offers insight into Cicis's past practices regarding employee benefits.