What was the net income for Fast Fix Jewelry And Watch Repairs in 2023?
Fast_Fix_Jewelry_And_Watch_Repairs Franchise · 2025 FDDAnswer from 2025 FDD Document
| Commo | n Stock | Α | dditional | A | ccumulated | Sto | ckholders' | ||
|---|---|---|---|---|---|---|---|---|---|
| Shares | Ar | nount | Paid | d-In Capital | _ | Deficit | Equity | ||
| Balance, January 1, 2023 | 978,781 | $ | 100 | $ | 906,230 | $ | (1,530,331) | $ | (624,001) |
| Net income | 279,052 | 279,052 | |||||||
| Balance, December 31, 2023 | 978,781 | 100 | 906,230 | (1,251,279) | (344,949) | ||||
| Net income | 357,356 | 357,356 | |||||||
| Balance, December 31, 2024 | 978,781 | $ | 100 | $ | 906,230 | $ | (893,923) | $ | 12,407 |
| | | 2024 | | 2023 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 37)
What This Means (2025 FDD)
According to Fast Fix Jewelry And Watch Repairs's 2025 Franchise Disclosure Document, the company's net income for 2023 was $279,052. This figure is derived from the consolidated statements of operations, which were audited by an independent auditor. The auditor's report indicates that the financial statements present fairly the financial position of Fast Fix Jewelry And Watch Repairs as of December 31, 2023, in accordance with accounting principles generally accepted in the United States of America.
Net income is a key indicator of a company's profitability, representing the amount of revenue that remains after deducting all expenses, including the cost of goods sold, operating expenses, interest, and taxes. For a prospective Fast Fix Jewelry And Watch Repairs franchisee, understanding the franchisor's net income can provide insights into the overall financial health and stability of the company. A consistent and growing net income may suggest a well-managed and profitable franchise system.
It's important to note that while the FDD provides audited financial statements, these reflect the performance of the franchisor's operations and not necessarily the potential profitability of an individual franchise unit. Prospective franchisees should conduct their own due diligence, including reviewing the Item 19 financial performance representations and speaking with existing franchisees, to assess the potential financial performance of a Fast Fix Jewelry And Watch Repairs franchise.