What was the net income for City Wide in 2022?
City_Wide Franchise · 2025 FDDAnswer from 2025 FDD Document
| Interest expense | (234) | (184) | 131 | | Other income | 858,348 | 406,379 | 176,453 | | Total other income (expense) | 709,353 | (1,333,827) | (1,007,944) | | Net Income | 19,161,078 | 14,196,288 | 10,941,550 | | Other comprehensive income (loss) | 39,507 | (6,653) | 26,999 | | Comprehensive Income | $ 19,200,585 | $ 14,189,635 | $ 10,968,549 |
| City | Wide Franc | chise | Company, | Inc. & Subsidiari | ies | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Common Stock Class A Class B | dditional Paid-In Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total | ||||||
| Balance January 1, 2022 | $ | 2,100 | $ | 210,000 | $ | 366,366 | $ 15,459,388 | $ | (5,506) | $ 16,032,348 |
| Net income | - | - | - | 10,941,550 | - | 10,941,550 | ||||
| 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 | 18,569,257 | ||||
| Net income | - | - | - | 14,196,288 | - | 14,196,288 | ||||
| Other comprehensive loss | - | - | - | - | (6,653) | (6,653) | ||||
| Distributions | (21,712,635) | (21,712,635) | ||||||||
| Balance December 31, 2023 | 2,100 | 210,000 | 366,366 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 65)
What This Means (2025 FDD)
According to City Wide's 2025 Franchise Disclosure Document, the company's net income for the year 2022 was $10,941,550. This figure represents the profit City Wide Franchise Company, Inc. & Subsidiaries retained after deducting all expenses from its total revenues during that fiscal year.
For a prospective franchisee, net income is a critical indicator of the overall financial health and profitability of City Wide. A strong net income suggests that the company is well-managed and has a sustainable business model. It demonstrates the franchisor's ability to generate profit, which can translate into better support and resources for franchisees.
It's important to note that while this net income figure provides a snapshot of City Wide's financial performance in 2022, prospective franchisees should also review the company's financial statements for subsequent years (2023 and 2024 are also provided) to identify any trends or changes in profitability. Additionally, understanding the factors that contributed to this net income, such as revenue growth, expense management, and market conditions, can provide valuable insights into the company's future prospects. Reviewing the complete audited financial statements and notes, as well as consulting with a financial advisor, is recommended to fully assess the financial stability and potential risks associated with investing in a City Wide franchise.