What was the total reported amount for 'NET INCOME' for Crawl Space Ninja?
Crawl_Space_Ninja Franchise · 2024 FDDAnswer from 2024 FDD Document
| 6700 - Advertising & Marketing | 5,497.36 |
|---|---|
| 6800 - Utilities | 2,733.70 |
| 6900 - Other Business Expenses | |
| 6910 - Quickbooks & Bank Fees | 503.44 |
| 6920 - Franchise Conference Expenses | 8,435.29 |
| 6935 Gifts | 500.00 |
| 6940 - Marketing Service Expenses | |
| 6950 - Shipping expense | 0.00 |
| 6960 - Sales Tax Expense | 0.00 |
| 6970 - Taxes & Licenses | 8,723.00 |
| 6980 - Telephone Expense | 1,397.14 |
| 6990 - Repairs & Maintenance | |
| Total 6900 - Other Business Expenses | 19,558.87 |
| Registration fees | 902.85 |
| Total Expenses | $226,674.30 |
| NET OPERATING INCOME | $276,521.20 |
| Other Income |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 51)
What This Means (2024 FDD)
According to Crawl Space Ninja's 2024 Franchise Disclosure Document, the reported net income for the company is $277,099.28. This figure represents the company's profit after deducting all expenses from its total income. This net income includes consideration of other income, such as interest income, which totaled $578.08.
For a prospective franchisee, net income is a critical indicator of the franchisor's financial health and stability. A positive net income suggests that the company is operating profitably and has the resources to support its franchisees. However, it is important to note that these financial statements have been prepared without an audit, meaning that no independent certified public accountant has verified the figures.
It is also important to consider that Crawl Space Ninja Franchising LLC is treated as a disregarded entity for tax purposes, and its income, deductions, and credits are combined with those of its parent company, Crawlspace Ninja Holdings, LLC. Therefore, the financial statements do not include a provision or liability for federal or state income taxes. Prospective franchisees should consult with a financial advisor to understand the full financial implications of investing in a Crawl Space Ninja franchise.