What was the net income for Floyds 99 in 2023?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Assets | |||
| Current Assets | |||
| Cash | $ 111,592 | $ 54,680 | $ 571,813 |
| Restricted cash | 149,399 | 230,206 | 319,880 |
| Accounts receivable | 64,563 | 284,773 | 172,607 |
| Deferred franchise costs | 291,750 | - | - |
| Due from related party | 1,150,000 | 890,000 | 314,476 |
| Prepaid and other | 13,833 | 13,658 | 56,046 |
| Total current assets | 1,781,137 | 1,473,317 | 1,434,822 |
| Capitalized Software - Net | 95,990 | 72,069 | 248,910 |
| Total assets | $ 1,877,127 | $ 1,545,386 | $ 1,683,732 |
| Liabilities and Member's Equity | |||
| Current Liabilities | |||
| Accounts payable | $ 40,460 | $ 92,690 | $ 43,607 |
| Current portion of deferred franchise revenue | 133,015 | 126,650 | 101,483 |
| Accrued payroll and other accrued liabilities | 77,853 | 81,227 | 77,862 |
| Total current liabilities | 251,328 | 300,567 | 222,952 |
| Deferred Franchise Revenue - Net of current portion | 1,590,014 | 1,173,995 | 1,145,636 |
| Total liabilities | 1,841,342 | 1,474,562 | 1,368,588 |
Source: Item 23 — RECEIPT (FDD pages 58–229)
What This Means (2025 FDD)
According to Floyds 99's 2025 Franchise Disclosure Document, the company's net income for 2023 was $5,194,272. This figure represents the company's profit after deducting all operating expenses from its total net sales. Total net sales for Floyds 99 in 2023 amounted to $7,927,886, while total operating expenses were $2,733,614.
Net income is a key indicator of a company's profitability and financial health. For a prospective Floyds 99 franchisee, this information provides insight into the franchisor's financial performance. A higher net income generally suggests a more stable and successful franchisor, which can be an important factor when considering a franchise investment.
It's important to note that these financial statements are for Floyds 99 Franchising, LLC, specifically, and may not reflect the performance of individual franchised locations. Franchisees should also review the complete financial statements and consult with a financial advisor to fully understand the implications of these figures.