What was the net income for Crisp & Green as of December 31, 2022?
Crisp_Green Franchise · 2024 FDDAnswer from 2024 FDD Document
| 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 | 323,330 | 162,495 | 64,500 |
| Management Fee Revenue | - | 5,594 | - |
| Total Revenues | 6,164,336 | 4,494,840 | 2,240,940 |
| OPERATING EXPENSES | |||
| Management Fee | 1,045,500 | 500,000 | 500,000 |
| Commission Expense | 308,797 | 296,581 | 3,000 |
| Advertising Expense | 434,782 | - | - |
| Legal Fees | 35,051 | - | - |
| Bank Fees | 8 | - | 143 |
| Total Operating Expenses | 1,824,138 | 796,581 | 503,143 |
| NONOPERATING INCOME | |||
| Other Income | 104,126 | 182,877 | - |
| NET INCOME | $ 4,444,324 | $ 3,881,136 | $ 1,737,797 |
What This Means (2024 FDD)
According to Crisp & Green's 2024 Franchise Disclosure Document, the net income as of December 31, 2022, was $3,881,136. This figure represents the company's profitability after deducting all expenses from its revenues for that year.
In addition to net income, the statement also provides insights into the beginning and ending balances of member's equity, as well as distributions made during the year. For instance, the balance on December 31, 2021, was $2,027,811, and distributions of $2,971,018 were made during 2022. The balance on December 31, 2022, was $2,937,929.
Prospective franchisees can use this information to assess the financial health and stability of Crisp & Green. A consistent history of net income growth could indicate a strong and well-managed franchise system. However, it's important to consider these figures in the context of other financial data and industry benchmarks to gain a comprehensive understanding of the franchise's performance.