What was the amount of the Note Payable for All County in 2024?
All_County Franchise · 2025 FDDAnswer from 2025 FDD Document
reported as follows:
National Advertising Fund Revenues for 2024: $ 314,715 National Advertising Fund Expenditures for 2024: $(289,830) Net Income from National Advertising Fund $ 24,885
Notes to Financial State
Source: Item 22 — Contracts (FDD page 43)
What This Means (2025 FDD)
According to All County's 2025 Franchise Disclosure Document, as of December 31, 2024, the company had an outstanding automobile retail installment sale note payable in the amount of $49,227. The note carries an annual interest rate of 6.44% and is scheduled to be paid off in December 2029.
This note payable represents a financial obligation of All County, likely for the purchase of a vehicle used in the business. The disclosure of this debt provides transparency to potential franchisees, allowing them to assess the company's financial health and stability. The interest rate and repayment schedule offer further insight into the terms of the obligation.
Prospective franchisees should consider this debt when evaluating All County's overall financial position. While a note payable is a common business liability, its size and terms can indicate the company's ability to manage its finances. It is important to note that this note payable is related to the franchisor's corporate entity and not the franchisees' businesses.