What was the reported value of City Wide's computer software in 2023?
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 |
|---|
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 65)
What This Means (2025 FDD)
According to City Wide's 2025 Franchise Disclosure Document, the reported value of computer software in 2023 was $5,163,959. This figure represents the company's investment in software assets at that point in time, before accounting for depreciation. It is important to note that this value reflects the historical cost of the software and may not represent its current market value or replacement cost.
This information is relevant to potential City Wide franchisees as it provides insight into the company's investment in technology and its approach to managing its assets. A significant investment in computer software could indicate a reliance on technology for business operations, potentially impacting the franchisee's own technology needs and costs.
Franchisees should consider this figure in conjunction with other financial data to assess the overall financial health and stability of City Wide. Understanding the company's asset base, including its investment in software, can help franchisees make informed decisions about their investment in the franchise. It is also important to understand what software is provided to franchisees and if there are any additional costs associated with it.