What was the net income for Crawlspace Medic in 2023?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
24 | $ | 216,112 | $ | 460,495 |
STATEMENTS OF CASH FLOWS CSM FRANCHISE GROUP, LLC
| 2023 | For the Years Ended December 31, 2022 | 2021 |
|---|
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2024 FDD)
According to Crawlspace Medic's 2024 Franchise Disclosure Document, the net income for 2023 was $1,149,783. The FDD also provides the net income for the previous two years. In 2022, the net income was $808,447, and in 2021, the net income was $954,060.
This information is valuable for prospective franchisees as it provides insight into the financial performance of Crawlspace Medic over the past three years. Reviewing these figures can help potential franchisees assess the overall profitability and stability of the company. It's important to note that past performance is not necessarily indicative of future results, but it can serve as a useful benchmark.
In addition to net income, the FDD includes other financial data, such as cash flow information. For example, the net cash provided by operating activities in 2023 was $1,093,866. Member's withdrawals totaled $1,029,271. Analyzing these figures alongside net income can provide a more comprehensive understanding of the company's financial health and how it manages its cash flow. A prospective franchisee should carefully review all financial statements and notes within the FDD, and consult with a financial advisor, to fully understand the financial implications of investing in a Crawlspace Medic franchise.