What was the total amount of members' equity for Crawlspace Medic as of December 31, 2021?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
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AUDITED FINANCIAL STATEMENTS
BALANCE SHEETS CSM FRANCHISE GROUP, LLC
| 2022 | December 31, 2021 | 2020 | |
|---|---|---|---|
| ASSETS | |||
| Current Assets | |||
| Cash and cash equivalents | $ 222,873 | $ 173,299 | $ 173,230 |
| Franchisee fees receivable | - | 280,000 | 5,000 |
| Royalty fees receivable | - | 9,972 | 13,890 |
| Due from related parties | - | 9,599 | - |
| Prepaid expense | 5,250 | 12,168 | - |
| TOTAL ASSETS | $ 228,123 | $ 485,038 | $ 192,120 |
| LIABILITIES AND MEMBERS' EQUITY | |||
| Current Liabilities | |||
| Accounts payable and accrued expenses | $ 12,011 | $ 23,099 | $ 955 |
| Due to related party | - | 1,444 | 43,580 |
| TOTAL LIABILITIES | 12,011 | 24,543 | 44,535 |
| Members |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2024 FDD)
According to Crawlspace Medic's 2024 Franchise Disclosure Document, the total members' equity as of December 31, 2021, was $460,495. This figure represents the ownership stake in the company held by its members after deducting liabilities from its assets. It is a key indicator of the company's financial health and stability at that point in time.
For a prospective Crawlspace Medic franchisee, this number provides insight into the financial structure of the company. A higher members' equity generally suggests a stronger financial foundation, which can be reassuring. It reflects the accumulated investments and retained earnings within the company.
However, it is essential to consider this figure in conjunction with other financial metrics and trends. Reviewing the changes in members' equity over several years, as presented in the table, offers a more comprehensive understanding of the company's financial performance. Additionally, comparing Crawlspace Medic's members' equity to that of other franchises in the same industry can provide a benchmark for assessing its relative financial strength.