What were the total assets for Beauty Bungalows in 2023?
Beauty_Bungalows Franchise · 2025 FDDAnswer from 2025 FDD Document
identified during the audits.
Troy, MI March 1, 2024
Beauty Bungalows Franchising, LLC BALANCE SHEET
For the Year Ended December 31, 2023 and 2022
| 2023 | 2022 | |
|---|---|---|
| ASSETS | ||
| Current assets: | $ 115,727 | $ 124,233 |
| Cash | ||
| Total current assets | 115,727 | 124,233 |
| Non-current a |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 47)
What This Means (2025 FDD)
According to Beauty Bungalows's 2025 Franchise Disclosure Document, the company's total assets in 2023 were $231,510. This figure is derived from the balance sheet, which provides a snapshot of the company's assets, liabilities, and equity at a specific point in time. The balance sheet included in Item 21 of the FDD is audited, meaning an independent accounting firm has reviewed the figures and provided an opinion on their accuracy.
Breaking down the asset composition, Beauty Bungalows had current assets totaling $115,727 in 2023, which included cash. Additionally, the company had non-current assets consisting of deferred franchise acquisition costs amounting to $115,783. These deferred costs likely represent expenses Beauty Bungalows has incurred related to setting up and selling franchises, which they will recognize over time.
For a prospective franchisee, understanding the franchisor's asset base can provide insights into the financial stability and resources of Beauty Bungalows. A healthy asset base can indicate the company's ability to support its franchisees and invest in the brand's growth. Reviewing these figures in comparison to previous years and other franchise systems can help a potential franchisee assess the financial health and trajectory of Beauty Bungalows.
It's important to note that while the audited financial statements provide a level of assurance, prospective franchisees should still conduct their own due diligence. This includes consulting with a financial advisor and attorney to fully understand the implications of these financial figures and how they relate to the franchise opportunity.