What was the value of notes receivable for 360 Painting in 2023?
360_Painting Franchise · 2025 FDDAnswer from 2025 FDD Document
----|-----------------| | Acquisition of Rooterman | 739,207 | | Contingent consideration of House Doctors | 33,819 | | Impairment of Renew Crew | (169,724) | | Balance at December 31, 2022 | $ 5,433,689 | | Acquisition of Window Gang | 1,635,000
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 56)
What This Means (2025 FDD)
According to 360 Painting's 2025 Franchise Disclosure Document, the value of notes receivable in 2023 was $34,628. The FDD also provides the value of notes receivable for 2022, which was $74,460.
Notes receivable represent money owed to 360 Painting by its debtors. These are considered assets on the company's balance sheet. The decrease in notes receivable from 2022 to 2023 could indicate a more efficient collection process or a change in lending practices.
A prospective franchisee should consider the trend in notes receivable as part of their due diligence. Understanding the nature of these receivables and the company's policies for managing them can provide insights into the financial health and risk profile of 360 Painting.