What is the estimated useful life of the ASP acquisitions that may be relevant to Benjamin Franklin Plumbing?
Benjamin_Franklin_Plumbing Franchise · 2025 FDDAnswer from 2025 FDD Document
| As of December 31, 2024 | ||||||||
|---|---|---|---|---|---|---|---|---|
| Estimated Useful Life | Gross Amount | Accumulated Amortization and Impairment | Net Amount | Weighted Average Remaining Useful Life | ||||
| 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 | 25,963 | 5,193 | 20,770 | 8 years | |||
| Junkluggers | 10 years | 49,394 | 9,879 | 39,515 | 8 years | |||
| Weed Pro | 10 years | 19,941 | 3,490 | 16,451 | 8.25 years | |||
| Screenmobile | 10 years | 10,746 | 2,060 | 8,686 | 8.08 years | |||
| Other acquisitions(2) | 10 years | 7,995 | 3,643 | 4,352 | 8 years | |||
| Goodwill, net | $ | 448,327 | $ | 91,122 | $ | 357,205 |
| As of December 31, 2023 | ||||||||
|---|---|---|---|---|---|---|---|---|
| Estimated Useful Life | Gross Amount | Accumulated Amortization and Impairment | Net Amount | Weighted Average Remaining Useful Life | ||||
| Authority Brands | 10 years | $ | 154,146 | $ | 15,415 | $ | 138,731 | 9 years |
| ASP | 10 years | 16,285 | 1,629 | 14,656 | 9 years | |||
| Mosquito Squad | 10 years | 12,422 | 1,242 | 11,180 | 9 years | |||
| Clockwork | 10 years | 126,296 | 12,630 | 113,666 | 9 years | |||
| Monster(1) | 10 years | 28,786 | 2,878 | 25,908 | 9 years | |||
| DoodyCalls | 10 years | 7,761 | 776 | 6,985 | 9 years | |||
| DRYmedic | 10 years | 25,963 | 2,596 | 23,367 | 9 years | |||
| Junkluggers | 10 years | 49,394 | 4,940 | 44,454 | 9 years | |||
| Weed Pro | 10 years | 19,941 | 1,496 | 18,445 | 9.25 years | |||
| Screenmobile | 10 years | 10,746 | 985 | 9,761 | 9.08 years | |||
| Other acquisitions(2) | 10 years | 7,995 | 799 | 7,196 | 9 years | |||
| Goodwill, net | $ | 459,735 | $ | 45,386 | $ | 414,349 |
Source: Item 22 — CONTRACTS (FDD pages 87–88)
What This Means (2025 FDD)
According to the 2025 FDD, as of December 31, 2024, the estimated useful life of the ASP acquisitions is 10 years. The gross amount is $16,285, with accumulated amortization and impairment of $3,257, resulting in a net amount of $13,028. The weighted average remaining useful life is 8 years.
As of December 31, 2023, the estimated useful life for ASP acquisitions was also 10 years. The gross amount was $16,285, the accumulated amortization and impairment was $1,629, leading to a net amount of $14,656. The weighted average remaining useful life was 9 years.
This information is relevant to prospective Benjamin Franklin Plumbing franchisees because it provides insight into the financial management and asset valuation practices of the parent company. Understanding the estimated useful life and amortization of acquired assets like ASP can help franchisees assess the financial stability and long-term planning of the franchisor. It also demonstrates how the franchisor accounts for its acquisitions over time, which can be a factor in evaluating the overall financial health of the Benjamin Franklin Plumbing franchise system.