What was the total balance for City Wide as of December 31, 2023?
City_Wide Franchise · 2025 FDDAnswer from 2025 FDD Document
| Class A | Class B | Capital | Earnings | Income (Loss) | Total | |
|---|---|---|---|---|---|---|
| Balance January 1, 2022 | $ 2,100 | $ 210,000 | $ 366,366 | $ 15,459,388 | $ (5,506) | $ 1 6,032,348 |
| Net income | - | - | - | 10,941,550 | - | 1 0,941,550 |
| 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 | 1 8,569,257 |
| Net income | - | - | - | 14,196,288 | - | 1 4,196,288 |
| 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 | 1 1,046,257 | |
| Net income | ||||||
| - | - | - | 19,161,078 | - | 1 9,161,078 | |
| Other comprehensive income | ||||||
| - | - | - | - | 39,507 | 39,507 | |
| Distributions | ||||||
| - | - | - | ( 16,582,517) | - | (16,582,517) | |
| Balance December 31, 2024 | $ 2,100 | $ 210,000 2024 | $ 366,366 2023 | $ 13,031,512 2022 | $ 54,347 | $ 1 3,664,325 |
Source: Item 23 — RECEIPT (FDD pages 65–271)
What This Means (2025 FDD)
According to City Wide's 2025 Franchise Disclosure Document, the total balance as of December 31, 2023, was $11,046,257. This figure represents the sum of several financial components, including Class A assets of $2,100, Class B assets of $210,000, capital of $366,366, earnings of $10,452,951, and other income of $14,840.
For a prospective City Wide franchisee, understanding the balance sheet is crucial. It provides a snapshot of the company's financial health and stability. A healthy total balance suggests that City Wide is managing its assets and liabilities effectively, which can be a positive indicator for franchisees considering investing in the brand.
However, it's important to note that this total balance is just one piece of the financial puzzle. Franchisees should also review the individual components of the balance sheet, as well as other financial statements, to get a comprehensive understanding of City Wide's financial performance. Consulting with a financial advisor is recommended to fully assess the implications of these figures.