What was the reported value of furniture and fixtures for Annex Brands in 2024?
Annex_Brands Franchise · 2025 FDDAnswer from 2025 FDD Document
ember 30:
| 2024 | 2023 | |
|---|---|---|
| Equipment and software Furniture and fixtures Leasehold improvements | $ 5,165,000 | $ 4,400,000 |
| 509,000 | 449,000 | |
| 120,000 |
Source: Item 21 — Financial Statements (FDD page 109)
What This Means (2025 FDD)
According to Annex Brands's 2025 Franchise Disclosure Document, the reported value of furniture and fixtures in 2024 was $509,000. This figure represents the cost of furniture and fixtures owned by Annex Brands as of September 30, 2024. For comparison, the value of furniture and fixtures in 2023 was $449,000.
This information is part of Annex Brands's consolidated balance sheets, which are audited by an independent accounting firm. These balance sheets provide a snapshot of the company's assets, liabilities, and equity at a specific point in time. Furniture and fixtures are considered property and equipment, which are reported at cost and depreciated over their useful lives.
For a prospective franchisee, understanding the value of Annex Brands's assets, like furniture and fixtures, can provide insights into the company's financial health and investment in its operations. While this figure reflects Annex Brands's corporate assets, franchisees will also need to invest in furniture and fixtures for their individual locations. Reviewing these figures can help a franchisee understand how Annex Brands manages its own assets and how depreciation is handled.
It's important to note that these figures represent the value of furniture and fixtures owned by Annex Brands itself, not the investment required by a new franchisee to furnish their own location. Franchisees should refer to Item 7 of the FDD for estimated initial investment costs, including furniture, fixtures, and equipment necessary to start their business.