What was the amount of impairment for Benjamin Franklin Plumbing in 2024?
Benjamin_Franklin_Plumbing Franchise · 2025 FDDAnswer from 2025 FDD Document
| As of December 31, 2024 | Net Amount | Weighted Average Remaining Useful Life | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Estimated Useful Life | Gross Amount | Accumulated Amortization and Impairment | |||||||||
| Authority Brands | 10 years | $ | 154,146 | $ | 30,829 | $ | 123,317 | 8 years | |||
| ASP | 10 years | 16,285 | 3,257 | 13,028 | 8 years | ||||||
| Mosquito Squad | 10 years | 12,422 | 2,484 | 9,938 | 8 years | ||||||
| Clockwork | 10 years | 126,296 | 25,259 | 101,037 | 8 years | ||||||
| Monster(1) | 10 years | 17,378 | 3,476 | 13,902 | 8 years | ||||||
| DoodyCalls | 10 years | 7,761 | 1,552 | 6,209 | 8 years | ||||||
| DRYmedic | 10 years |
Source: Item 22 — CONTRACTS (FDD pages 87–88)
What This Means (2025 FDD)
According to the 2025 Franchise Disclosure Document, the provided table includes accumulated amortization and impairment data as of December 31, 2024, for various brands under Authority Brands. However, the specific impairment amount for Benjamin Franklin Plumbing is not separately listed in this table. The table only provides the accumulated amortization and impairment for 'Authority Brands' as a whole, which includes Benjamin Franklin Plumbing along with other brands like ASP, Mosquito Squad, Clockwork, and others.
For a prospective Benjamin Franklin Plumbing franchisee, this means that while the FDD provides an overview of the financial status of Authority Brands and its subsidiaries, it does not offer a detailed breakdown of impairment specific to the Benjamin Franklin Plumbing brand. Impairment, in accounting terms, refers to a permanent reduction in the value of an asset.
To get a clearer picture of Benjamin Franklin Plumbing's financial health, a potential franchisee should ask the franchisor directly for detailed financial statements that specifically outline any impairments recognized for the Benjamin Franklin Plumbing brand. Understanding these figures is crucial for assessing the brand's financial stability and future prospects.