What was the net intangible assets for 1 800 Packouts as of December 3, 2022?
1_800_Packouts Franchise · 2025 FDDAnswer from 2025 FDD Document
expressing an opinion on the\neffectiveness of the Company's internal control. Accordingly, no such opinion is expressed.
- Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
- Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.
Tanner LLC
April 30, 2023
| As of December 3: | ||||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Assets |
Source: Item 23 — RECEIPT (FDD pages 67–238)
What This Means (2025 FDD)
According to 1 800 Packouts's 2025 Franchise Disclosure Document, as of December 3, 2022, the net intangible assets were valued at $54,137,918. This figure represents the value of intangible assets like trademarks, patents, and other intellectual property, net of any amortization or impairments, held by 1 800 Packouts at that specific point in time.
For a prospective franchisee, understanding the value and composition of these intangible assets is crucial. A significant portion of the overall asset value is tied to these intangibles, reflecting the brand's strength and market position. These assets are essential for attracting customers and maintaining a competitive edge.
It's also worth noting the change in this value over time. The FDD indicates that the net intangible assets as of December 3, 2021, were $33,635,333. The increase to $54,137,918 by December 3, 2022, suggests a substantial growth in the company's intangible assets, potentially due to successful branding efforts or acquisitions. A prospective franchisee should investigate the specific factors contributing to this increase to better assess the long-term value and stability of the 1 800 Packouts brand.