What was the total amount of member distributions from Kidokinetics in 2023?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
4,619) | | 2,458 | | Adoption of ASC 842, Leases | - | | | | - | | - | | (1,015) | | (1,015) | | Member distributions | - | | - | | - | | (20,691) | | - | | (20,691) | | Net loss | | | - | | - | | | _ | (811,320) | _ | (811,320) | | Balance at December 31, 2022 | - | | - | | - | | 406,386 | | (1,236,954) | | (830,568) | | Member distributions | - | | - | | - | | - | | (17,133) | | (17,133) | | Net loss | | | - | | - | | - | | (749,072) | | (749,072) | | Balance at December 31, 2023 | | $ | - | $ | - | S | 406,386 | $ | (2,003,159) | $ | (1,596,773) |
STATEMENTS OF CASH FLOWS
For the years ended December 31, 2023, 2022, and 2021
| | 2023 | 2022 | 2021 | |---------
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 59)
What This Means (2024 FDD)
According to Kidokinetics' 2024 Franchise Disclosure Document, member distributions in 2023 totaled $(17,133). This figure is detailed in the statement of changes in members' equity (deficit). It reflects the amount of money distributed to the members or owners of the Kidokinetics franchise during the fiscal year.
For a prospective franchisee, this information is useful in understanding the financial flows within the Kidokinetics franchise system. Member distributions represent a reduction in the company's retained earnings, which directly impacts the overall equity. A negative distribution, as seen here, suggests that more money was taken out of the company than was put in by its members during that period.
It's important to note that this distribution amount is part of a broader financial picture, including net losses and member contributions. In 2023, Kidokinetics experienced a net loss of $(749,072). Understanding these figures in context helps potential franchisees assess the financial stability and performance of the Kidokinetics franchise.