What were Buff City Soap's total assets as of December 29, 2024, in thousands of dollars?
Buff_City_Soap Franchise · 2025 FDDAnswer from 2025 FDD Document
-related matters that we identified during the audit.
Dallas, Texas April 29, 2025
Buff City Soap Franchising, LLC Balance Sheets December 29, 2024 and December 31, 2023
| (amounts in thousands) | December 29, 2024 | December 31, 2023 |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $ 5,312 | $ 4,394 |
| Accounts receivable, net | 1,886 | 2,453 |
| Contract fees receivable, net | - | 288 |
| Prepaid expenses and other current assets | 244 | 812 |
| Total current assets | 7,442 | 7,947 |
| Contract acquisition costs, net | 1,204 | 1,407 |
| Total assets | $ 8,646 | $ 9,354 |
| Liabilities and Member's Deficit | ||
| Current liabilities | ||
| Accounts payable and accrued liabilities | $ 948 | $ 484 |
| Accrued compensation | 224 | 265 |
| Accrued commissions | 191 | 191 |
| Current portion of deferred revenue | 756 | 828 |
| Total current liabilities | 2,119 | 1,768 |
| Deferred revenue, net of current portion | 9,932 | 11,739 |
| Total liabilities | 12,051 | 13,507 |
| Commitments and contingencies (see Note 5) | ||
| Member's defic |
Source: Item 6 — , Securities Offering Fee, in the amount column is revised to state the following: (FDD pages 216–303)
What This Means (2025 FDD)
According to Buff City Soap's 2025 Franchise Disclosure Document, the company's total assets as of December 29, 2024, were $8,646,000. This figure is presented in thousands of dollars in the balance sheets. The FDD also provides a comparative figure for the previous year, December 31, 2023, when total assets were $9,354,000.
Assets are a crucial indicator of a company's financial health. For a prospective Buff City Soap franchisee, understanding the franchisor's asset position can offer insights into the stability and resources available to support the franchise system. Higher asset values generally suggest a stronger financial foundation.
In addition to total assets, the balance sheet breaks down assets into current assets (cash, receivables, prepaid expenses) and non-current assets (contract acquisition costs). For December 29, 2024, Buff City Soap's current assets totaled $7,442,000, while contract acquisition costs were $1,204,000. Reviewing these components can give a more detailed picture of the types of assets Buff City Soap holds and how liquid those assets are.