What was the depreciation and amortization amount for 360 Painting in 2022?
360_Painting Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2023 | 2022 | |||
|---|---|---|---|---|
| Notes receivable | $ | 14,547 | $ | 24,990 |
| Prepaid expenses | 1,324,609 | 1,514,830 | ||
| Prepaid commissions | 985,918 | 751,616 | ||
| Other current assets | 161,344 | 160,533 | ||
| Total prepaid expenses and other current assets | $ | 2,486,419 | $ | 2,451,969 |
**5. Property and Equipmen
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 56)
What This Means (2025 FDD)
According to 360 Painting's 2025 Franchise Disclosure Document, the depreciation and amortization expense related to property and equipment was $152,162 for the year ending December 2022. This figure reflects the accounting recognition of the reduction in value of 360 Painting's assets over that period.
For a prospective franchisee, understanding depreciation and amortization is crucial as it impacts the overall financial health of the company. While franchisees do not directly share in these expenses, the financial stability of the franchisor is paramount. A financially stable franchisor like 360 Painting is more likely to provide better support, innovate, and invest in the brand, which ultimately benefits the franchisees.
It's important to note that this figure pertains specifically to the depreciation and amortization of property and equipment. Reviewing the complete financial statements, including the balance sheets and income statements, would provide a more comprehensive understanding of 360 Painting's financial performance and position. This information is typically audited, adding a layer of assurance to its accuracy.