What was the net income for City Wide Company, Inc. & Subsidiaries in 2022?
City_Wide Franchise · 2025 FDDAnswer from 2025 FDD Document
----|------------------------------|-------|------|------------|---------------------------------|----------------------|-----------------------------------------------|-----|---------|---------------| | | 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 | | Distributio
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 City Wide Franchise Company, Inc. & Subsidiaries in 2022 was $10,941,550. 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 during that year.
For a prospective City Wide franchisee, this net income figure provides insight into the overall financial health and profitability of the parent company. A strong net income suggests that the company is well-managed and has a sustainable business model. It also indicates the franchisor's ability to support its franchisees and invest in the growth of the franchise system.
It's important to note that while the net income of the parent company is a positive indicator, it does not directly translate to the potential earnings of an individual franchise. A franchisee's success will depend on various factors, including their local market conditions, management skills, and ability to follow the City Wide system. Therefore, prospective franchisees should conduct their own due diligence and financial analysis to determine the potential profitability of a City Wide franchise in their specific area.
Furthermore, the FDD also reveals that City Wide recorded management fee expenses of approximately $1,380,000 in 2022. Understanding these expenses can provide additional context for the net income figure, as it reflects the costs associated with managing and supporting the franchise system.