How much did 360 Painting spend on business acquisitions, net of cash acquired, in 2022?
360_Painting Franchise · 2025 FDDAnswer from 2025 FDD Document
combinations, the purchase price was allocated to the assets acquired and liabilities assumed based on their estimated fair values. The purchase price was allocated as follows:
| Current assets | $ - |
|---|---|
| Goodwill | 1,635,000 |
| Intangible assets | 5,190,000 |
| Assets acquired | 6,825,000 |
| Liabilities assumed | (75,000) |
| Purchase price | $ 6,750,000 |
*
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 56)
What This Means (2025 FDD)
According to 360 Painting's 2025 Franchise Disclosure Document, in March 2022, House Doctors, a related company, acquired Andy on Call, LLC for $150,000. The transaction was funded by cash on hand. Andy on Call is a home improvement and handyman franchising company and was acquired to allow for the expansion of House Doctors.
This acquisition indicates 360 Painting's parent company is actively seeking growth through acquiring other franchise systems. This strategy could lead to increased brand recognition, expanded service offerings, and potentially more resources for franchisees in the long term.
However, it's important to note that this acquisition was made by House Doctors, not 360 Painting directly. While the FDD provides this information, prospective franchisees should inquire about the overall financial strategy of the parent company and how these acquisitions might impact the 360 Painting franchise system specifically.