What was the amount of equipment for Corporate Cleaning Group in 2022?
Corporate_Cleaning_Group Franchise · 2025 FDDAnswer from 2025 FDD Document
ordingly, we do not express an opinion or provide any assurance on it.
Doyle & Associates, PLLC Farmington Hills, Michigan
March 27, 2025
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| CURRENT ASSETS | |||
| Cash in bank | $ 53,094 | $ 186,944 | $ 151,684 |
| Accounts receivable, trade, less allowance for doubtful | |||
| accounts of $650, $650 and $650, respectively | 193,406 | 178,150 | 89,417 |
| Prepaid expenses | 6,626 | 9,190 | 25,437 |
| Note receivable - related party | - · · · · · · · · · · · | 17,000 | |
| Deferred commissions | 69,917 | 51,584 | 29,364 |
| Total Current Assets | 323,043 | 442,868 | 295,902 |
| PROPERTY AND EQUIPMENT | |||
| Building improvements | 37,149 | 27,089 | 14,925 |
| Equipment | 23,528 | 20,841 | 20,841 |
| Furniture and fixtures | 13,561 | 13,561 | 4,595 |
| Total Property and Equipment | 74,238 | 61,491 | 40,361 |
| Less: Accumulated depreciation | 22,204 | 16,845 | 12,886 |
| Net Property and Equipment | 52,034 | 44,646 | 27,475 |
| OTHER ASSETS | |||
| Operating lease right-of-use assets | 14,850 | 29,245 | - |
| Deferred commissions | 516,418 | 416,238 | 255,489 |
| Total Other Assets | 531,268 | 445,483 | 255,489 |
| TOTAL ASSETS | $ 906,345 | $ 932,997 | $ 578,866 |
|
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 51)
What This Means (2025 FDD)
According to Corporate Cleaning Group's 2025 Franchise Disclosure Document, the value of equipment in 2022 was $20,841. This figure represents the historical cost of the equipment that Corporate Cleaning Group owned as of December 31, 2022, before accounting for accumulated depreciation.
For a prospective franchisee, this indicates the level of investment Corporate Cleaning Group itself has made in equipment to support its franchising operations. It is important to note that this is the franchisor's equipment, not the franchisees'. Franchisees will likely need to make their own investments in equipment to run their Corporate Cleaning Group franchises, and this figure does not reflect those costs.
It's also important to consider that this equipment is subject to depreciation. Depreciation is the allocation of the cost of an asset over its useful life. The FDD also includes information on accumulated depreciation, which is the total amount of depreciation that has been recognized on the equipment up to a certain point in time. The notes to the financial statements (Note A) indicate that the company's accounting policies conform to generally accepted accounting principles.
Prospective franchisees should inquire about what equipment they will need to purchase or lease to operate their own Corporate Cleaning Group franchise and what the estimated costs will be. They should also ask about any financing options that may be available.