What was the total value of 360 Painting's intangible assets, net, in 2023?
360_Painting Franchise · 2025 FDDAnswer from 2025 FDD Document
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.
Charlottesville, Virginia
April 22, 2025
| 2024 | 2023 | |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $ 943,020 $ | 722,074 |
| Accounts receivable, net | 3,218,426 | 2,838,106 |
| Prepaid expenses and other current assets | 3,666,212 | 2,486,419 |
| Total current assets | 7,827,658 | 6,046,599 |
| Property and equipment, net |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 56)
What This Means (2025 FDD)
According to the 2025 FDD, 360 Painting's intangible assets, net, were valued at $12,925,497 in 2023. Intangible assets are non-physical assets that can include things like trademarks, patents, and brand recognition. For a potential 360 Painting franchisee, this figure provides insight into the financial value associated with the brand's reputation and proprietary systems.
It's important to note that this value is part of the consolidated financial statements of Premium Service Brands, LLC and Subsidiaries, which is 360 Painting's affiliate. This means the intangible assets figure reflects the combined value across all brands under Premium Service Brands, not solely 360 Painting.
Understanding the composition and amortization schedule of these intangible assets would be beneficial for a prospective franchisee. Reviewing the complete audited financial statements, including the notes, will provide a more detailed understanding of these assets and how they are accounted for. A potential franchisee should consult with a financial advisor to fully understand the implications of these figures.