What was the amount of vehicles listed on the consolidated balance sheet for 1-800-GOT-JUNK? as of May 31, 2025?
1_800_Got_Junk Franchise · 2025 FDDAnswer from 2025 FDD Document
May 31, 2025 and December 31, 2024
May 31 December 31
Notes
Assets
Current assets: Cash $ 11,635,584 $ 8,886,128 Short-term investment 103,622 102,578 Accounts receivable (net of allowance for credit losses: May 31, 2025 - $106,092 (2024 - $106,029)) 11,313,651 13,221,199 Prepaid expenses
82,279 319,453 Due from related parties 4,814,013 3,473,487 Income taxes recoverable
324,518 57,337
28,273,667 26,060,182
Vehicles 102,172 111,460 Intangible asset 89,680 40,745 Deferred income tax assets 2,153,795 2,213,502
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 consolidated balance sheet lists the value of vehicles as $102,172 as of May 31, 2025. This figure represents the net book value of all vehicles owned by the 1-800-GOT-JUNK? LLC at that time.
For a prospective franchisee, this indicates the level of investment 1-800-GOT-JUNK? itself has in its own vehicle fleet. It's important to note that franchisees will typically need to acquire their own vehicles to operate their 1-800-GOT-JUNK? business. The cost of these vehicles will vary depending on whether they are purchased new or used, and the specific requirements of their territory.
It is important to note that the financial statements included in the FDD are unaudited. The FDD clearly states "THESE FINANCIAL STATEMENTS ARE PREPARED WITHOUT AN AUDIT. PROSPECTIVE FRANCHISEES OR SELLERS OF FRANCHISES SHOULD BE ADVISED THAT NO CERTIFIED PUBLIC ACCOUNTANT HAS AUDITED THESE FIGURES OR EXPRESSED HIS/HER OPINION WITH REGARD TO THE CONTENT OR FORM."