What was the cash and cash equivalents at the end of the year for Crawlspace Medic in 2022?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
,112 | $ | 460,495 | $ 147,585 |
STATEMENTS OF CASH FLOWS CSM FRANCHISE GROUP, LLC
| 2022 | 2021 | 2020 | |
|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES | $ 808,447 | $ 954,060 | $ 218,669 |
| Net income | |||
| Changes in operating assets and liabilities: | |||
| (Increase) decrease in franchisee fees receivable | 280,000 | (275,000) | (5,000) |
| (Increase) decrease in royalty fees receivable | 9,972 | 3,918 | (9,590) |
| (Increase) decrease in due from related parties | 9,599 | (9,599) | - |
| (Increase) decrease in prepaid expense | 6,918 | (12,168) | - |
| Increase (decrease) in accounts payable and | |||
| accrued expenses | (11,088) | 22,144 | 630 |
| Decrease in due to related party | (1,444) | (20,676) | - |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 1,102,404 | 662,679 | 204,709 |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Payment on related party financing | - | (21,460) | (53,629) |
| Members' withdrawals | (1,052,830) | (641,150) | (22,222) |
| NET CASH USED IN FINANCING ACTIVITIES | (1,052,830) | (662,610) | (75,851) |
| NET CHANGE IN CASH AND CASH EQUIVALENTS | 49,574 | 69 | 128,858 |
| Cash and cash equivalents at beginning o |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2024 FDD)
According to Crawlspace Medic's 2024 Franchise Disclosure Document, the cash and cash equivalents at the end of 2022 were $222,873. This figure represents the total amount of readily available cash and short-term investments that Crawlspace Medic had on hand as of December 31, 2022.
For a prospective franchisee, this number provides insight into the financial health and liquidity of Crawlspace Medic. A higher cash balance generally indicates a stronger ability to meet short-term obligations and invest in future growth. It's important to note that while this figure is a snapshot in time, it can fluctuate based on various factors such as revenue, expenses, and investments.
It is also useful to compare this cash and cash equivalents figure with those of previous years, which were $173,299 in 2021 and $173,230 in 2020. The increase in cash and cash equivalents from 2021 to 2022 could indicate positive financial performance or strategic cash management by Crawlspace Medic. A potential franchisee should analyze these trends in conjunction with other financial data to gain a comprehensive understanding of the company's financial stability and growth trajectory.