What was the reported value of software development in progress for Basecamp Fitness in 2024?
Basecamp_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
s equipment | 2,507 | | 2,757 | | Autos and trucks | 309 | | 309 | | Furniture and equipment | 390 | | 397 | | Construction in progress | 58 | | 35 | | Total property and equipment | 12,831 | | 12,847 | | Less: Accumulated depreciation | (9,866) | | (9,370) | | Property and equipment, net | $ 2,965 | $ | 3,477 |
Depreciation expense for the years ended December 31, 2024, 2023, and 2022 amounted to $1,016, $935, and 900, respectively.
(in thousands of US dollars)
4. Intangible Assets, Software Development, and License Costs
Intangible assets, software development, and license costs consist of the following at December 31:
| 2024 | 2023 | |
|---|---|---|
| Amortizable trademarks | $ 435 |
Source: Item 23 — RECEIPTS (FDD pages 62–248)
What This Means (2025 FDD)
According to Basecamp Fitness's 2025 Franchise Disclosure Document, the reported value of software development in progress for the company in 2024 was $1,487. This figure represents the investment Basecamp Fitness has made in developing new software or enhancing existing software during that year. This is distinct from 'Amortizable software development and license costs,' which refers to software that is already in use and being depreciated over time.
For a prospective franchisee, this indicates that Basecamp Fitness is actively investing in technology. This investment could lead to improved operational efficiencies, enhanced customer experiences, or new service offerings in the future. It also suggests that Basecamp Fitness is committed to staying current with technological advancements, which could be a competitive advantage.
However, it's important to note that 'software development in progress' is an asset that has not yet been fully realized. The ultimate value of this investment will depend on the successful completion and implementation of the software projects. A potential franchisee might want to inquire about the specific software projects in development, their expected benefits, and the timeline for their completion to better understand the potential return on this investment.