What was the net income for City Wide in 2023?
City_Wide Franchise · 2025 FDDAnswer from 2025 FDD Document
| 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 | 10,452,951 | 14,840 | 11,046,257 | ||||
| Net income | - | - | - | 19,161,078 | - | 19,161,078 | ||||
| Other comprehensive income | - | - | - | - | 39,507 | 39,507 | ||||
| Distributions | (16,582,517) | (16,582,517) | ||||||||
| Balance December 31, 2024 | $ | 2,100 | $ | 210,000 | $ | 366,366 | $ 13,031,512 | $ | 54,347 | $ 13,664,325 |
City Wide Franchise Company, Inc. & Subsidiaries Consolidated Statements of Cash Flows Years Ended December 31, 2024, 2023, and 2022
| | 2024 | 2023 | 2
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 65)
What This Means (2025 FDD)
According to City Wide's 2025 Franchise Disclosure Document, the net income for 2023 was $14,196,288. This figure represents the company's profit after all expenses, including the cost of goods sold, operating expenses, interest, and taxes, have been deducted from its revenues. Net income is a key indicator of a company's profitability and overall financial performance.
For a prospective City Wide franchisee, understanding the franchisor's net income can provide insights into the financial health and stability of the company. A consistently positive and growing net income suggests that the franchisor is well-managed and has a sustainable business model. This can be reassuring for franchisees who are considering investing in the brand. However, it is important to note that past performance is not necessarily indicative of future results, and franchisees should conduct their own due diligence to assess the potential risks and rewards of investing in a City Wide franchise.
It's also important to consider how City Wide's net income compares to other franchise systems in the same industry. While a net income of $14,196,288 may seem substantial, it's essential to evaluate it in the context of the company's size, revenue, and overall market conditions. A thorough analysis of the financial statements, including the income statement, balance sheet, and cash flow statement, can provide a more comprehensive understanding of City Wide's financial performance and its ability to support its franchisees.