For what years is financial data provided in this table for Bor Restoration?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
OF TH | 257,399 263,246 4 520,649 | | Total Operating Emperiors | | | | | | | NET INCOME | $ 3,179,55 | 9 5 | 386,160 | $ | 420,082 |
| 2023 | 2022 | 2021 | ||
|---|---|---|---|---|
| Beginning owners' equity | $ 638,797 | $ | 304,641 | $ 220,953 |
| Net contributions (distributions) | (531,656) | (52,004) | (336,394) | |
| Net income | 3,179,559 | 386,160 | 420,082 | |
| ENDING OWNERS' EQUITY | $ 3,286,700 | $ | 638,797 | $ 304,641 |
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| Cash flows from operating activities: Net income | $ 3,179,559 | $ 386,160 | $ 420,082 |
| Adjustments to reconcile net income to net cash | |||
| provided by operating activities: Amortization of right of use asset | 52,875 | 46,569 | |
| Changes in operating assets and liabilities: | 22,0.0 | ,. | |
| Accounts receivable | (140,364) | (33,624) | (25,761) |
| Prepaid expenses | (341) | 117,025 | (119,713) |
| Other assets | (23,175) | (14,028) | (10,205) |
| Accounts payable | 1,210 | 466 | (5,476) |
| Accrued expenses |
Source: Item 23 — Receipts (FDD pages 40–202)
What This Means (2024 FDD)
According to Bor Restoration's 2024 Franchise Disclosure Document, the provided financial tables include data for the years 2021, 2022, and 2023. Specifically, the tables present information on cash flows from operating and financing activities, as well as assets, for these three years. This allows prospective franchisees to review Bor Restoration's recent financial performance.
Reviewing several years of data helps potential franchisees identify trends in Bor Restoration's financial performance. For example, they can see whether net income and cash flow have been consistently increasing, decreasing, or fluctuating. This historical perspective is valuable for assessing the financial stability and growth potential of the franchise system.
It is important to note that past financial performance is not necessarily indicative of future results. However, the availability of this data for multiple years provides a more comprehensive view of Bor Restoration's financial health than a single year's snapshot would. Prospective franchisees should carefully analyze these financial statements and consider consulting with a financial advisor to fully understand the implications for their investment.