What was the amount of prepaid expenses for 1-800-GOT-JUNK? as of May 31, 2025?

According to 1-800-GOT-JUNK?'s 2025 Franchise Disclosure Document, the company's prepaid expenses as of May 31, 2025, were $82,279. This is detailed in the Consolidated Balance Sheets, which are unaudited and expressed in United States dollars. The balance sheet also shows comparative data from December 31, 2024, when prepaid expenses were $319,453.

Prepaid expenses represent payments 1-800-GOT-JUNK? has made for goods or services that will be used in the future. Common examples include insurance premiums, rent, or advertising. These are initially recorded as assets on the balance sheet and then expensed over the period they benefit the company. The decrease in prepaid expenses from December 31, 2024 to May 31, 2025 suggests that 1-800-GOT-JUNK? consumed a portion of its prepaid assets during this period.

For a prospective franchisee, understanding the level of prepaid expenses can provide insight into 1-800-GOT-JUNK?'s operational and financial management. It's important to note that these are consolidated figures, reflecting the financial position of 1-800-GOT-JUNK? LLC itself, not the individual franchisees. Franchisees will have their own prepaid expenses related to their specific operations.

It is also important to note that the financial statements provided are unaudited. The FDD includes a disclaimer that no certified public accountant has audited these figures or expressed an opinion regarding their content or form. Therefore, prospective franchisees should exercise caution and consider seeking professional financial advice when reviewing these statements.