What was the net income for Crisp & Green in 2023?
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 2023 was $4,444,324. This figure represents the profit Crisp & Green Franchising LLC retained after deducting all operating expenses and accounting for non-operating income. Reviewing Crisp & Green's financial performance over the past three years, the net income has steadily increased from $1,737,797 in 2021 to $3,881,136 in 2022, culminating in the $4,444,324 reported for 2023.
Analyzing the revenues, royalty income constitutes a significant portion, amounting to $3,397,510 in 2023. Additional revenue streams include marketing ($977,996), franchise sales ($1,465,500), and technology ($323,330). These diverse revenue sources contribute to the overall financial health of Crisp & Green. Operating expenses, including management fees ($1,045,500), commission expenses ($308,797), and advertising expenses ($434,782), totaled $1,824,138 in 2023.
The net income trend indicates positive financial performance for Crisp & Green. Prospective franchisees should consider these figures in conjunction with other factors, such as initial investment costs and ongoing fees, to assess the potential profitability of a Crisp & Green franchise. It's also important to note that past performance is not necessarily indicative of future results, and franchisees should conduct their own due diligence and consult with financial advisors.