According to Beauty Bungalows' 2025 Franchise Disclosure Document, the members' equity as of December 31, 2022, was $124,233. This figure represents the ownership stake in Beauty Bungalows held by its member(s) after deducting liabilities from assets. It is a key indicator of the company's financial health and stability at that point in time.

Specifically, the provided table in Item 21 of the FDD details the assets, liabilities, and members' equity for Beauty Bungalows at the end of 2023 and 2022. In 2022, the total assets were $124,233, and the total liabilities were $0, resulting in members' equity of $124,233. This indicates that in 2022, Beauty Bungalows had a positive net worth, with assets exceeding liabilities by $124,233.

A prospective franchisee should consider the trend in members' equity over the years presented in the FDD. While the members' equity was $124,233 in 2022, it decreased to $16,910 in 2023 and further to $(209,773) in 2024. This decline could signal potential financial challenges or significant investments that impacted the company's equity. Reviewing the complete financial statements and discussing these trends with Beauty Bungalows' management is essential to understand the underlying factors and assess the financial risk associated with investing in the franchise.