What assets associated with the DoodyCalls business were sold by Benjamin Franklin Plumbing during 2024?
Benjamin_Franklin_Plumbing Franchise · 2025 FDDAnswer from 2025 FDD Document
ail operations of the Color World business. During December 2024, the Company and the franchisees of Color World franchise executed an agreement to terminate the franchise relationship. Under the terms of the agreement, the franchise relationship will cease to exist as of January 2, 2025. As a result of the sale of the assets associated with the retail operations, and the termination of the franchise agreements, the Company made the decision to abandon the Color World business. The Company recognized total impairment losses of $3,957 on the consolidated statements of comprehensive loss to write-down the assets to $0, as there was no
Source: Item 22 — CONTRACTS (FDD pages 87–88)
What This Means (2025 FDD)
According to the 2025 FDD, Benjamin Franklin Plumbing's parent company sold certain assets related to the retail operations of DoodyCalls during 2024. These assets primarily consisted of franchise relationships and customer relationship intangible assets.
The sale resulted in the company recognizing impairment losses of $1,508 to write down the value of these assets. Additionally, the company recognized a loss of $1,000 on the disposal of these assets, which was reported as part of the loss on the sale of retail operations in the consolidated statements of operating loss.
This information indicates that Benjamin Franklin Plumbing's parent company made strategic decisions to divest certain assets within its portfolio of brands. While this does not directly impact the operations of Benjamin Franklin Plumbing franchises, it provides insight into the parent company's overall business strategy and asset management practices. Prospective franchisees may want to inquire about the long-term strategic plans for the Benjamin Franklin Plumbing brand in light of these transactions.