What was the goodwill at the beginning of 2023 for Benjamin Franklin Plumbing?
Benjamin_Franklin_Plumbing Franchise · 2025 FDDAnswer from 2025 FDD Document
d for the years ended December 31, 2023 and 2022.
Estimated amortization expense for the subsequent five years and thereafter is as follows:
| 2025 | $ 31,115 |
|---|---|
| 2026 | 31,041 |
| 2027 | 31,038 |
| 2028 | 30,981 |
| 2029 | 30,680 |
| Thereafter | 207,665 $ 362,520 |
Source: Item 22 — CONTRACTS (FDD pages 87–88)
What This Means (2025 FDD)
According to the 2025 Franchise Disclosure Document, Benjamin Franklin Plumbing's goodwill at the beginning of 2023 was $291,784. Goodwill represents the intangible assets of the company, such as brand reputation and customer relationships, that contribute to its overall value.
Benjamin Franklin Plumbing adopted a private company alternative accounting approach for goodwill starting January 1, 2023, and amortizes it on a straight-line basis over ten years. This means the company systematically reduces the value of goodwill on its balance sheet over that period.
For a prospective franchisee, understanding the goodwill and its amortization is important for assessing the financial health and stability of Benjamin Franklin Plumbing. It provides insight into how the company values its intangible assets and manages its financial reporting.