What was the net income for Crave as of December 31, 2022?
Crave Franchise · 2025 FDDAnswer from 2025 FDD Document
| 1,225,000 | | Total current liabilities | 1,141,951 | 998,049 | 1,269,472 |
For the years ended December 31, 2024, 2023, and 2022 CRAVE FRANCHISING, LLC STATEMENTS OF CHANGES IN MEMBER'S EQUITY
| BALANCE, DECEMBER 31, 2021 | $ (204,262) |
|---|---|
| Member contributions | - |
| Member distributions | (446,770) |
| Net income | 156,662 |
| BALANCE, DECEMBER 31, 2022 | $ (494,370) |
| Member contributions | - |
| Member distributions | (483,344) |
| Net |
Source: Item 23 — RECEIPTS (FDD pages 63–253)
What This Means (2025 FDD)
According to Crave's 2025 Franchise Disclosure Document, the net income for the period ending December 31, 2022, was $156,662. This figure is part of the statement of changes in member's equity, detailing how the equity balance changed over time due to net income and member distributions. Understanding the net income helps potential franchisees assess the financial performance and profitability of Crave's franchising operations during that specific year.
It's important to note that this net income is for Crave Franchising, LLC itself, and not for individual franchise locations. The financial performance of the franchisor can influence its ability to support franchisees, invest in marketing, and maintain the overall brand. A positive net income generally indicates financial stability and efficient management, which can be reassuring for prospective franchisees.
However, franchisees should also consider other factors such as revenue trends, expenses, and cash flow when evaluating the financial health of Crave. Reviewing the complete financial statements and seeking professional financial advice is crucial for making an informed investment decision. The FDD also includes financial statements for 2023 and 2024, allowing for a comparison of Crave's financial performance over multiple years.