What was the amount of payments received on notes receivable by Batteries Plus Bulbs in 2022?
Batteries_Plus_Bulbs Franchise · 2025 FDDAnswer from 2025 FDD Document
$10 to other assets, $2,208 to goodwill, and ($81) to current liabilities. Of this purchase price, $2,362 was cash and $930 was a note payable paid by the Company in January 2023.
Operating results of franchised stores acquired have been included in the accompanying consolidated financial statements from their respective acquisition dates forward.
NOTE M - SALE OF CORPORATE-OWNED STORES
The Company did not sell any corporate-owned stores in 2023.
During 2022, Batteries Plus sold the operating assets of five corporate-owned stores. Batteries Plus no longer operates these locations as Batteries Plus operated stores. The allocation of the $1,005 selling price was bas
Source: Item 21 — Financial Statements (FDD pages 79–80)
What This Means (2025 FDD)
The 2025 Franchise Disclosure Document for Batteries Plus Bulbs does not explicitly state the amount of payments received on notes receivable during 2022. However, it does mention a note receivable related to the sale of corporate-owned stores.
Specifically, in 2022, Batteries Plus Bulbs sold the operating assets of five corporate-owned stores for $1,005. Of this amount, $464 was received in cash, and $541 was structured as a note receivable. The document further indicates that in 2023, Batteries Plus Bulbs became uncertain about the collectability of this note and recorded a reserve against the remaining balance.
While the FDD details the initial amount of the note receivable created in 2022 from the sale of corporate stores, it does not specify how much was actually collected on that note during 2022. A prospective franchisee should ask Batteries Plus Bulbs for clarification on the payments received on notes receivable in 2022 to gain a clearer understanding of the company's financial transactions related to notes receivable.