What was the total comprehensive income for Jersey Mikes in 2022?
Jersey_Mikes Franchise · 2025 FDDAnswer from 2025 FDD Document
TABLE TO THE CONTROLLING PARTNER | $ 5,039,581 | $ 21,256,637 | $ 19,519,134 |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME FOR THE YEARS ENDED DECEMBER 31, 2024, 2023, AND 2022
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| NET INCOME | $ 5,039,581 | $ 21,256,637 | $ 19,526,715 |
| OTHER COMPREHENSIVE LOSS | (25,662) | - | - |
| TOTAL COMPR |
Source: Item 22 — CONTRACTS (FDD page 77)
What This Means (2025 FDD)
According to Jersey Mike's 2025 Franchise Disclosure Document, the total comprehensive income for the company in 2022 was $19,526,715. This figure represents the net income adjusted for other comprehensive income items, offering a broader view of the company's financial performance beyond just the net income. For a prospective franchisee, understanding the total comprehensive income can provide insight into the overall financial health and stability of Jersey Mike's.
It's important to note that while net income reflects the profitability from regular business operations, comprehensive income includes items such as unrealized gains and losses on investments, foreign currency translation adjustments, and changes in pension liabilities. These additional elements can give a more complete picture of the company's financial position. In the case of Jersey Mike's, the 'other comprehensive loss' was not specified for 2022, so the total comprehensive income matches the net income.
Franchisees should consider this information in conjunction with other financial metrics and trends to assess the long-term viability and potential return on investment of a Jersey Mike's franchise. Reviewing several years' worth of financial statements, as presented in the FDD, will provide a more robust understanding of the company's financial performance and any potential fluctuations or patterns. Additionally, comparing these figures to industry benchmarks can help a potential franchisee gauge Jersey Mike's financial performance relative to its competitors.