What was the net change in cash and cash equivalents for Crawlspace Medic in 2021?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
| 2022 | 2021 | 2020 | |
|---|---|---|---|
| NET CHANGE IN CASH AND CASH EQUIVALENTS | 49,574 | 69 | 128,858 |
| Cash and cash equivalents at beginning of year | 173,299 | 173,230 | 44,372 |
| CASH AND CASH EQUIVALENTS AT END OF YEAR | $ 222,873 | $ 173,299 | $ 173,230 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2024 FDD)
According to Crawlspace Medic's 2024 Franchise Disclosure Document, the net change in cash and cash equivalents in 2021 was $69. This indicates a minimal increase in the company's cash position during that year.
This figure is important for prospective franchisees as it provides insight into the financial stability and cash flow management of Crawlspace Medic. A very small increase in cash and cash equivalents might raise questions about the company's financial performance and its ability to manage its short-term assets effectively.
While a single year's change in cash position doesn't tell the whole story, it's a data point that potential franchisees should consider in the context of the company's overall financial health and trends over multiple years. It would be prudent to compare this figure with those of other years and to inquire about the reasons behind such a small increase with the franchisor.