What were the earnings for City Wide on January 1, 2022?
City_Wide Franchise · 2025 FDDAnswer from 2025 FDD Document
| Class A | Class B | Capital | Earnings | Income (Loss) | Total | |
|---|---|---|---|---|---|---|
| Balance January 1, 2022 | $ 2,100 | $ 210,000 | $ 366,366 | $ 15,459,388 | $ (5,506) | $ 1 6,032,348 |
| Net income | - | - | - | 10,941,550 | - | 1 0,941,550 |
| Other comprehensive income | - | - | - | - | 26,999 | 26,999 |
| Distributions | - | - | - | ( 8,431,640) | - | (8,431,640) |
| Balance December 31, 2022 | 2,100 | 210,000 | 366,366 | 17,969,298 | 21,493 | 1 8,569,257 |
Source: Item 23 — RECEIPT (FDD pages 65–271)
What This Means (2025 FDD)
According to City Wide's 2025 Franchise Disclosure Document, the earnings balance on January 1, 2022, was $15,459,388. This figure represents the accumulated earnings of City Wide up to that date. It's important to note that this is not the net income for a specific period but rather the cumulative earnings carried forward.
This number is a component of the overall financial health of City Wide, as shown in the consolidated balance sheets. The document also details how this balance changed over the course of the year, with net income adding to it and distributions reducing it. For example, the net income for 2022 was $10,941,550, which increased the earnings balance, while distributions of $8,431,640 decreased it.
Prospective franchisees should understand that this earnings figure reflects the financial performance of the overall City Wide franchise system and not the potential earnings of an individual franchise. Reviewing the complete balance sheet and income statements, along with other financial disclosures in the FDD, will provide a more comprehensive understanding of City Wide's financial stability and performance.