What was the total value of Best Brains' vehicles as of December 31, 2023?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
| December 31, 2024 | December 31, 2023 | |
|---|---|---|
| Fixed Asset | ||
| Vehicles | 545,919 | 246,030 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Best Brains' 2025 Franchise Disclosure Document, the total value of vehicles as of December 31, 2023, was $246,030. This figure represents the company's investment in vehicles before accounting for accumulated depreciation.
For a prospective franchisee, this indicates the level of investment Best Brains has in its own vehicles. It is important to note that this value is before depreciation, which is a reduction in the value of an asset over time. The net value of fixed assets, which includes vehicles, is a more accurate reflection of the company's financial position.
It's also worth noting that the value of vehicles increased significantly from December 31, 2023 ($246,030) to December 31, 2024 ($545,919). This could indicate a substantial investment in new vehicles during 2024. A potential franchisee may want to inquire about the nature of these vehicles and their role in the Best Brains business model.