What was the total value of 1 800 Packouts' total assets in 2023?
1_800_Packouts Franchise · 2025 FDDAnswer from 2025 FDD Document
opinion on the effectiveness of the Company'sinternal 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.
April 23, 2025
| (1) | 2024 | 2023 | |
|---|---|---|---|
| Assets | |||
| Current assets: | |||
| Cash | $ | 3,690,691 | $ 1,455,349 |
| Restricted cash | - | 840,143 | |
| Accounts receivable, |
Source: Item 23 — RECEIPT (FDD pages 67–238)
What This Means (2025 FDD)
According to 1 800 Packouts' 2025 Franchise Disclosure Document, the company's total assets in 2023 were valued at $138,406,777. This figure represents the sum of all current assets, goodwill, intangible assets, contract assets, operating lease right-of-use assets, and other assets held by 1 800 Packouts at the end of the 2023 fiscal year.
Specifically, the assets included current assets totaling $8,781,085, goodwill (net) valued at $66,184,756, intangible assets (net) at $50,358,496, contract assets (net of current portion) at $10,981,453, operating lease right-of-use assets at $1,272,436, and other assets amounting to $828,551. These components, when combined, reflect the overall financial health and resources that 1 800 Packouts possessed at that time.
Prospective franchisees should note that asset values can fluctuate due to various factors, including market conditions, business performance, and accounting practices. Reviewing the company's balance sheets over several years, as presented in the FDD, can provide a more comprehensive understanding of its financial stability and growth trends. It is also advisable to consult with a financial advisor to assess the implications of these figures for your investment decision.