table_specific

What was the total net income for Hyper Kidz in 2020?

Hyper_Kidz Franchise · 2024 FDD

Answer from 2024 FDD Document

BALANCE, DECEMBER 31, 2019 $ (24,490) $ (15,010) $ (39,500)
Member distributions (100,386) (100,386)
Net income 110,241 110,241
BALANCE, DECEMBER 31, 2020 (14,635) (15,010) (29,645)
Member contributions 1,800 1,800
Advances to affiliates, net (163,377) (163,377)
Net income 46,173 46,173
BALANCE, DECEMBER 31, 2021 33,338 (178,387) (145,049)
Member distributions (30,000) (30,000)
Advances to affiliates, net 1,468 1,468
Net income 52,292 -
BALANCE, DECEMBER 31, 2022 $ 55,630 $ (176,919) $ (173,581)

**FOR THE YEARS ENDED DECEMBER 31, 2022, 2021 AND 2020 BOOMERANG FRA

Source: Item 21 — FINANCIAL STATEMENTS (FDD page 52)

What This Means (2024 FDD)

According to Hyper Kidz's 2024 Franchise Disclosure Document, the company's net income for the year 2020 was $110,241. This figure represents the profit remaining after all revenues and expenses were accounted for during that fiscal year.

For a prospective Hyper Kidz franchisee, this historical net income data provides insight into the potential profitability of the franchise system. While past performance is not indicative of future results, a positive net income suggests that the business model has the capacity to generate profits. It is important to consider this figure in conjunction with other financial metrics, such as revenue, expenses, and cash flow, to gain a comprehensive understanding of the company's financial health.

It's also important to note that this net income reflects the performance of Boomerang Franchise, LLC, the entity that grants Hyper Kidz franchises, and not necessarily the performance of individual franchise locations. A prospective franchisee should investigate the financial performance of existing franchise units, as well as the factors that could influence their own location's profitability, such as local market conditions and operating costs.

Disclaimer: This information is extracted from the 2024 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.