What was the reported cash amount contributed to AB Assetco by Benjamin Franklin Plumbing?
Benjamin_Franklin_Plumbing Franchise · 2025 FDDAnswer from 2025 FDD Document
lities | (139) | | Total contribution to AB Assetco | $ 17,915 |
Junkluggers
On December 14, 2022, the Parent entered into a purchase and sale agreement to acquire 100% of the outstanding equity interests of Junkluggers Franchising, LLC. Subsequent to the acquisition, on December 31, 2022, the Parent formed Junkluggers Franchising SPE, LLC and legally contributed the assets and liabilities of Junkluggers Franchising, LLC to the Company.
The following table summarizes the historical carrying values of the assets and liabilities contributed to the Company on December 31, 2022.
| Cash | $ 179 |
|---|---|
| Accounts receivables | 399 |
| Prepaid expenses and other current assets | 103 |
| Goodwill | 42,913 |
| Intangible assets, net | 36,898 |
| Deferred revenue | (8,089) |
| Other current liabilities | (1,405) |
| Total contribution to AB Assetc |
Source: Item 22 — CONTRACTS (FDD pages 87–88)
What This Means (2025 FDD)
According to Benjamin Franklin Plumbing's 2025 Franchise Disclosure Document, the cash contributed to AB Assetco is detailed in Item 22, which outlines various contracts and financial aspects. The table provided shows a cash contribution of $179. However, this table does not specifically attribute this cash contribution to Benjamin Franklin Plumbing. Another table shows a cash contribution of $220, but this table also does not specify that the cash contribution came from Benjamin Franklin Plumbing.
It is important to note that AB Assetco wholly owns Benjamin Franklin Franchising SPE LLC, among other entities. The document presents consolidated financial statements for AB Assetco and its subsidiaries, which means the figures provided are aggregate amounts and not broken down by individual franchise brands.
Therefore, while the FDD provides the total cash contribution to AB Assetco, it does not specify the exact amount contributed solely by Benjamin Franklin Plumbing. A prospective franchisee should seek clarification from Benjamin Franklin Plumbing regarding the specific cash contributions from the Benjamin Franklin Plumbing franchise to AB Assetco to gain a clearer understanding of the financial structure.