What was the net income for Crisp & Green in 2022?
Crisp_Green Franchise · 2024 FDDAnswer from 2024 FDD Document
11 | | LIABILITIES AND MEMBER'S EQUITY | | | | | CURRENT LIABILITIES | $ 34,448 | $ 2,136 | $ - | | Accounts Payable | | | | | LONG TERM LIABILITIES | 7,412,300 | 8,175,200 | 4,496,300 | | Deferred Revenue | | | | | Total Liabilities | 7,446,748 | 8,177,336 | 4,496,300 | | MEMBER'S EQUITY | 2,871,756 | 2,937,929 | 2,027,811 | | Total Liabilities and Member's Equity | $ 10,318,504 | $ 11,115,265 | $ 6,524,111 |
CRISP & GREEN FRANCHISING LLC STATEMENTS OF OPERATIONS YEARS ENDED DECEMBER 31, 2023, 2022, AND 2021
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| REVENUES | |||
| Royalty Income | $ 3,397,510 | $ 2,426,451 | $ 1,414,976 |
| Marketing Revenue | 977,996 | 689,400 | 394,264 |
| Franchise Sales | 1,465,500 | 1,210,900 | 367,200 |
| Technology Revenue |
Source: Item 23 — RECEIPTS (FDD pages 66–252)
What This Means (2024 FDD)
According to Crisp & Green's 2024 Franchise Disclosure Document, the net income for the company in 2022 was $3,881,136. This figure represents the profit Crisp & Green Franchising LLC retained after deducting all expenses from its total revenues for that year. This information is derived from the company's audited financial statements, which are included in the FDD.
Understanding the net income is crucial for potential franchisees as it provides insight into the financial health and profitability of Crisp & Green. A strong net income suggests that the company is well-managed and has a sustainable business model. This can be a positive indicator for franchisees, as it implies that Crisp & Green is capable of supporting its franchisees and investing in the growth of the brand.
It's important to note that while the net income reflects the franchisor's financial performance, it does not directly translate to the potential profitability of an individual franchise unit. A prospective franchisee should also consider other factors such as the initial investment, ongoing fees, and local market conditions to assess the potential return on investment for their specific franchise location. Reviewing the complete financial statements and consulting with a financial advisor is recommended to gain a comprehensive understanding of the financial aspects of investing in a Crisp & Green franchise.