What was the amount of total 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 the 2025 FDD, 1-800-GOT-JUNK?'s total member's equity as of December 31, 2024, was $3,747,838. This figure represents the ownership stake in the company held by its members, reflecting the accumulated earnings and investments. It's a key indicator of the company's financial health and stability.
The Consolidated Statements of Changes in Member’s Equity detail the fluctuations in this equity over time. The balance at December 31, 2023, was $3,930,185. During 2024, 1-800-GOT-JUNK? experienced a net loss and comprehensive loss of $182,347, which decreased the total member's equity to the reported $3,747,838 by the end of the year.
Prospective franchisees should consider this trend in equity when evaluating the financial performance of 1-800-GOT-JUNK?. While a decrease in equity might raise concerns, it's important to understand the underlying reasons for the loss and assess the company's strategies for future growth and profitability. Reviewing the complete financial statements and discussing these figures with the franchisor can provide a more comprehensive understanding of the company's financial position.