What was the net value of Cicis' website in 2023?
Cicis Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | |||
|---|---|---|---|---|
| Website | $ 220,000 | $ 220,000 | ||
| Accumulated amortization | (69,667) | (25,667) | ||
| Website, net 2024 | $ 150,333 2023 | $ 194,333 |
Source: Item 23 — RECEIPTS (FDD pages 65–263)
What This Means (2025 FDD)
According to Cicis' 2025 Franchise Disclosure Document, the net value of the website in 2023 was $194,333. This figure represents the original value of the website less any accumulated amortization, which is the reduction of the asset's value over time. The initial website value was $220,000. The accumulated amortization was $25,667 in 2023.
For a prospective franchisee, understanding the net value of assets like the website is important for assessing the overall financial health and investment in technology by Cicis. A higher net value might indicate a more robust and up-to-date online presence, which can be a key factor in attracting and retaining customers in today's digital marketplace.
It's also worth noting that Cicis continues to invest in its website, as evidenced by the 'Website in development' line item, which shows an investment of $100,000 in 2023. This ongoing investment suggests a commitment to improving and expanding the online capabilities, which could benefit franchisees through enhanced marketing and customer engagement tools.
Reviewing these figures in the context of Cicis' overall financial statements can provide a more comprehensive understanding of the company's financial strategy and its potential impact on franchisee success. A prospective franchisee should also inquire about the specific features and functionalities of the website and how it supports franchise operations.