What was the total assets value for Browns Chicken in 2023?
Browns_Chicken Franchise · 2025 FDDAnswer from 2025 FDD Document
lano,Caboor & Co.*
Catalano, Caboor & Co. Lombard, IL
March 31, 2024
BROWN'S CHICKEN, LLC CONSOLIDATED BALANCE SHEETS DECEMBER 31, 2023 AND 2022
ASSETS
| 2023 | 2022 | |||
|---|---|---|---|---|
| CURRENT ASSETS: | ||||
| Cash and Cash Equivalents | $ | 78,676 | $ | 60,971 |
| Cash - VIE | 65,330 | 42,971 | ||
| Accounts Receivable (Net of Allowance for Doubtful | ||||
| Accounts of $7,999 in 2023 and $8,588 in 2022) | 43,420 | 45,891 | ||
| Accounts Receivable - VIE (Net of Allowance for | ||||
| Doubtful Accounts of $0 in 2023 and $0 in 2022) | 24,810 | 19,649 | ||
| Uniform & Equipment Inventory | 4,968 | 4,373 | ||
| Prepaid Expenses | 6,750 | 1,952 | ||
| Total Current Assets | 223,954 | 175,807 | ||
| PROPERTY AND EQUIPMENT: | ||||
| Equipment | 44,834 | 44,834 | ||
| Vehicles | 121,465 | 110,801 | ||
| Subtotal | 166,299 | 155,635 | ||
| Less Accumulated Depreciation | (143,072) | (131,359) | ||
| Net, Property and Equipment | 23,227 | 24, |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Browns Chicken's 2025 Franchise Disclosure Document, the company's total assets in 2023 amounted to $646,167. This figure represents the sum of Browns Chicken's current assets, property and equipment (net of accumulated depreciation), and other assets.
Specifically, the current assets included cash and cash equivalents ($78,676), cash from VIE ($65,330), accounts receivable net of allowance ($43,420), accounts receivable from VIE net of allowance ($24,810), uniform and equipment inventory ($4,968), and prepaid expenses ($6,750), totaling $223,954. Property and equipment, after deducting accumulated depreciation, was valued at $23,227. The other assets, consisting entirely of goodwill, were valued at $398,986.
For a prospective franchisee, this information provides a snapshot of Browns Chicken's financial health and asset composition. Understanding the types and amounts of assets Browns Chicken holds can offer insights into the company's stability and investment in its operations. It's important to consider these figures in conjunction with liabilities and equity to get a comprehensive view of the company's financial position.