What was the net income for Corporate Cleaning Group in 2024?
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 net income for 2024 was $134,596. This figure is part of a larger financial overview that includes net sales, general and administrative expenses, operating income, other income/expense, income before taxes, and provision for income taxes. The net income represents 7.15% of net sales for the year.
For a prospective franchisee, this indicates the profitability of Corporate Cleaning Group's franchising operations. A positive net income suggests that the company is managing its expenses effectively and generating profit from its revenue streams, which primarily consist of franchise fees and royalties. This can be a reassuring sign for potential investors.
It's important to consider this figure in the context of Corporate Cleaning Group's overall financial health and trends over the past three years. While net income was $134,596 in 2024, it was $282,601 in 2023 and $157,278 in 2022. The FDD also shows the company's balance sheet and cash flow statements, which provide a more comprehensive view of its financial position. Reviewing these statements can help a potential franchisee assess the financial stability and growth potential of Corporate Cleaning Group.