What was the net value of 'Property and equipment' reported under 'Receipts' for Bonchon in 2024?
Bonchon Franchise · 2025 FDDAnswer from 2025 FDD Document
standing of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Bonchon Franchise, LLC's internal control. Accordingly, no such opinion is expressed.
- Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
- Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about Bonchon Franchise, LLC's ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scop
Source: Item 23 — RECEIPTS (FDD pages 92–536)
What This Means (2025 FDD)
According to Bonchon's 2025 Franchise Disclosure Document, the net value of 'Property and equipment' under the assets section was $308,572 in 2024. This figure represents the depreciated value of Bonchon's property and equipment after accounting for accumulated depreciation and amortization.
For a prospective franchisee, this indicates the net value of the company's physical assets, which can be useful in assessing the financial health and stability of the franchisor. It is important to note that this value reflects the assets held by Bonchon Franchise, LLC, and not the assets a franchisee would own or need to acquire to open their own Bonchon restaurant.
Reviewing these figures over several years, as presented in the FDD, can provide insights into Bonchon's investment in its infrastructure and how these assets are being managed. A significant change in this value from year to year could signal changes in investment strategies or asset management practices.