What was the net income for Corporate Cleaning Group in 2022?
Corporate_Cleaning_Group Franchise · 2025 FDDAnswer from 2025 FDD Document
| | | | Total Members' Equity | 12,202 | 65,986 | 134,391 | | TOTAL LIABILITIES AND MEMBERS' EQUITY | $ 906,345 | $ 932,997 | $ 578,866 |
| 2024 | Percent of Sales | 2023 | Percent of Sales | 2022 | Percent of Sales | |
|---|---|---|---|---|---|---|
| NET SALES | $1,882,990 | 100.00 % | $1,351,646 | 100.00 % | $1,064,980 | 100.00 % |
| Total Income | 1,882,990 | 100.00 | 1,351,646 | 100.00 | 1,064,980 | 100.00 |
| GENERAL AND ADMINISTRATIVE EXPENSES | 1,746,779 | 92.77 | 1,058,008 | 78.28 | 900,046 | 84.51 |
| Operating Income | 136,211 | 7.23 | 293,638 | 21.72 | 164,934 | 15.49 |
| OTHER INCOME (EXPENSE) Depreciation expense Other expense Other income | (5,359) | (0.28) 0.00 0.44 | (3,959) (50) 3,972 | (0.29) (0.00) 0.29 | (655) | (0.06) (0.00) 0.00 |
| Total Other Income (Expense) | 2,885 | 0.15 | (37) | (0.00) | (656) | (0.06) |
| INCOME BEFORE TAXES | 139,096 | 7.39 | 293,601 | 21.72 | 164,278 | 15.43 |
| PROVISION FOR INCOME TAXES | (4,500) | (0.24) | (11,000) | (0.81) | (7,000) | (0.66) |
| NET INCOME | $ 134,596 | 7.15 % | $ 282,601 | 20.91 % | $ 157,278 | 14.77 % |
| 1 | Members' Equity | |||||
| ----------------------------- | ---- | -------------------- | ||||
| BALANCES, January 1, 2022 | $ | 158,649 | ||||
| 2022 Distributions | (181,536) | |||||
| 2022 Net Income | 157,278 | |||||
| BALANCES, December 31, 2022 | 134,391 | |||||
| 2023 Distributions | (351,006) | |||||
| 2023 Net Income | 282,601 | |||||
| BALANCES, Decemb |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 51)
What This Means (2025 FDD)
According to Corporate Cleaning Group's 2025 Franchise Disclosure Document, the company's net income for the year 2022 was $157,278. This figure represents the profit Corporate Cleaning Group retained after deducting all expenses, including the provision for income taxes which was ($7,000) in 2022, from its total income of $1,064,980. The net income is a key indicator of the company's financial performance and profitability during that period.
When evaluating a franchise opportunity, net income is a critical factor for potential franchisees. It provides insight into the financial health and stability of the franchisor, which can directly impact the support and resources available to franchisees. A higher net income generally indicates a stronger franchisor, capable of investing in innovation, marketing, and franchisee support. Conversely, a lower net income may raise concerns about the franchisor's ability to sustain its operations and provide adequate support to its franchisees.
In addition to net income, the FDD provides other financial metrics, such as net sales, general and administrative expenses, operating income, and other income/expenses. These figures offer a more comprehensive view of Corporate Cleaning Group's financial performance and can help prospective franchisees assess the overall financial health of the company. Reviewing these figures over several years, as presented in the table, can reveal trends and provide a better understanding of the company's financial trajectory.
It is important for potential franchisees to carefully review the entire financial section of the FDD, including the notes to the financial statements, to gain a thorough understanding of Corporate Cleaning Group's financial condition. Consulting with a financial advisor or accountant is also recommended to properly interpret the financial information and assess the risks and opportunities associated with investing in a Corporate Cleaning Group franchise.