What was the amount of member's equity for 1-800-GOT-JUNK? as of December 31, 2024?
1_800_Got_Junk Franchise · 2025 FDDAnswer from 2025 FDD Document
1-800-GOT-JUNK? LLC Consolidated Statements of Changes in Member’s Equity (Expressed in United States dollars)
Years ended December 31, 2024 and 2023
Total
Member’s Retained member’s
equity earnings equity
Balance, December 31, 2022 $ $ 3,856,333 $ 3,856,334
Net income and comprehensive income
73,851 73,851
Balance, December 31, 2023
3,930,184
3,930,185
Net loss and comprehensive loss
(182,347) (182,347)
Balance, December 31, 2024 $ $ 3,747,837 $ 3,747,838
Source: Item 21 — Financial Statements (FDD page 56)
What This Means (2025 FDD)
According to 1-800-GOT-JUNK?'s 2025 Franchise Disclosure Document, the total member's equity as of December 31, 2024, was $3,747,838. This figure represents the sum of retained earnings and member's equity. This number is derived from the consolidated statements of changes in member's equity. This reflects the ownership value in 1-800-GOT-JUNK? attributable to its members after deducting all liabilities from its assets.
For a prospective franchisee, this number provides insight into the financial stability and overall net worth of 1-800-GOT-JUNK?. A higher member's equity generally indicates a stronger financial position, suggesting that the company has a solid foundation and is better equipped to handle financial challenges. It also reflects the accumulated profits and investments made in the company over time.
It is important to note that this figure is just one component of the overall financial health assessment. A prospective franchisee should also consider other financial metrics, such as revenue, expenses, assets, and liabilities, as well as trends in these figures over time. Reviewing the complete financial statements and consulting with a financial advisor can provide a more comprehensive understanding of 1-800-GOT-JUNK?'s financial condition.
Furthermore, the FDD includes notes to the consolidated financial statements, which may provide additional context and explanations of specific items. These notes can offer valuable insights into the accounting practices and assumptions used in preparing the financial statements, as well as any contingent liabilities or subsequent events that could impact the company's financial position.