What was the reported total value of property and equipment, net, for City Wide in 2024?
City_Wide Franchise · 2025 FDDAnswer from 2025 FDD Document
r the years ended December 31, 2024, 2023, and 2022 there were four, four, and two franchises operating in Canada, respectively, which are not reflected in the table above. There are no active franchises in other international markets.
Note 4. Property and Equipment
Property and equipment consists of the following at December 31, 2024, 2023, and 2022:
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Leasehold improvements | $ 1,253,640 | $ 1,253,640 | $ 1,253,640 |
| Automobiles | 43,294 | 43,294 | 43,294 |
| Office furniture and equipment | 346,966 | 336,949 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 65)
What This Means (2025 FDD)
According to City Wide's 2025 Franchise Disclosure Document, the total value of property and equipment, net, for City Wide in 2024 was reported as $1,390,853. This figure represents the depreciated value of assets like leasehold improvements, automobiles, office furniture, computer equipment, computer software and telephone equipment owned by City Wide.
For a prospective franchisee, this indicates the level of investment City Wide itself has in its own physical assets. It's important to note that this figure reflects the net value, meaning accumulated depreciation has already been subtracted from the original cost of these assets.
Reviewing these figures over the three-year period (2022-2024) shows a decrease in the net value of property and equipment. The FDD shows the net value as $3,081,584 in 2022 and $2,018,516 in 2023. This trend could be due to increased depreciation, disposal of assets, or a change in investment strategy. A prospective franchisee may want to inquire about the reasons for this trend to better understand City Wide's capital expenditure plans.