What was the total value of City Wide's property and equipment, net, in 2022?
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 2022 was $3,081,584. This figure represents the depreciated value of assets like leasehold improvements, automobiles, office furniture, computer equipment, computer software, and telephone equipment owned by the company.
This net value is calculated by subtracting accumulated depreciation from the original cost of these assets. The FDD specifies that City Wide uses the straight-line depreciation method over the estimated useful life of each asset, which ranges from 3 to 10 years for different categories of property and equipment.
For a prospective franchisee, this indicates the level of investment City Wide itself has in its physical assets. It's important to note that franchisees will also need to acquire their own equipment and property, the costs of which are detailed in other sections of the FDD. Reviewing these figures can help a potential franchisee understand the capital expenditure requirements for starting a City Wide franchise.