What is the depreciation expense for City Wide Franchise of Canada Inc. in 2024?
City_Wide Franchise · 2025 FDDAnswer from 2025 FDD Document
| 10,452,951 | 17,969,298 | | Total stockholders' equity | 13,664,325 | 11,046,257 | 18,569,257 | | Total liabilities and stockholders' equity | $ 39,487,375 | $ 33,801,707 | $ 35,090,119 |
City Wide Franchise Company, Inc. & Subsidiaries Consolidated Statements of Income and Comprehensive Income Years Ended December 31, 2024, 2023, and 2022
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Revenues | |||
| Royalties | $ 29,465,788 | $ 24,303,311 | $ 20,595,555 |
| Franchise fees | 545,350 | 825,418 | 620,722 |
| Other franchise goods and services | 14,130,864 | 11,947,867 | 8,773,822 |
| Total revenues | 44,142,002 | 37,076,596 | 29,990,099 |
| Expenses | |||
| Advertising and marketing | 1,111,167 | 986,941 | 754,532 |
| Cost of service and supplies | 3,445,053 | 3,578,645 | 2,378 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 65)
What This Means (2025 FDD)
Based on the 2025 FDD, the provided financial statements include a consolidated statement of income and comprehensive income for City Wide Franchise Company, Inc. & Subsidiaries. This statement details various revenue and expense items for the years ending December 31, 2024, 2023, and 2022. Among the expenses listed is depreciation. However, the depreciation expense provided is for the consolidated entity, not broken out separately for City Wide Franchise of Canada, Inc. Therefore, the FDD does not provide the specific depreciation expense for the Canadian subsidiary.
For a prospective franchisee, this means that while the overall depreciation expense for the entire City Wide organization is available, understanding the specific expenses for individual subsidiaries requires further inquiry. Depreciation is a non-cash expense that reflects the reduction in value of assets over time, and it can impact the profitability of a specific entity. Knowing the depreciation expense for City Wide Franchise of Canada, Inc. would provide a clearer picture of its financial performance.
To gain a comprehensive understanding of the Canadian subsidiary's financials, a potential franchisee should ask City Wide for the specific depreciation expense for City Wide Franchise of Canada, Inc. This information would be helpful in assessing the financial health and performance of the Canadian operations, which could be relevant if the franchisee is considering expanding into or operating within Canada.