What were the total franchise fees for City Wide in 2024 before eliminating entries?
City_Wide Franchise · 2025 FDDAnswer from 2025 FDD Document
| 10,452,951 | 17,969,298 | | Total stockholders' equity | 13,664,325 | 11,046,257 | 18,569,257 | | Total liabilities and stockholders' equity | $ 39,487,375 | $ 33,801,707 | $ 35,090,119 |
City Wide Franchise Company, Inc. & Subsidiaries Consolidated Statements of Income and Comprehensive Income Years Ended 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 total franchise fees for the year 2024 amounted to $545,350. This figure represents the revenue City Wide Franchise Company, Inc. recognized from initial franchise fees paid by new franchisees during that year. This does not include other revenues such as royalties or other franchise goods and services.
For a prospective franchisee, this number offers insight into the scale of City Wide's franchise operations and its revenue streams. It demonstrates the franchisor's ability to attract new franchisees and generate income from franchise fees. It is important to note that this figure does not reflect the profitability of the franchise system, but rather the gross revenue from franchise fees alone.
It is also important to consider this number in conjunction with other financial metrics provided in the FDD, such as royalty revenues and operating expenses, to gain a comprehensive understanding of City Wide's financial performance. Additionally, prospective franchisees should compare this figure with previous years to identify any trends or fluctuations in franchise fee revenue.