What were the franchise fees 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)
According to City Wide's 2025 Franchise Disclosure Document, City Wide Franchise Company, Inc. reported franchise fees of $545,350 in 2024. This figure represents the total franchise fees collected by City Wide Franchise Company, Inc., which is the parent company, and includes revenue from all franchise operations, not specifically City Wide Franchise of Canada, Inc. The document does not break down the franchise fee revenue on a per-subsidiary basis.
Prospective franchisees should note that the financial statements provided in the FDD are consolidated, meaning they reflect the combined financial performance of City Wide Franchise Company, Inc. and its subsidiaries. While the document provides an overview of the company's financial health, it does not offer specific details about the Canadian franchise's individual performance.
To obtain information about the financial performance of City Wide Franchise of Canada, Inc., a prospective franchisee should consider asking City Wide for a breakdown of revenues and expenses for that specific entity. This information would provide a clearer picture of the Canadian franchise's contribution to the overall company and its financial standing.