table_specific

What were Buff City Soap's total assets as of December 31, 2023, in thousands of dollars?

Buff_City_Soap Franchise · 2025 FDD

Answer 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 31, 2023, were $9,354,000. This figure is presented in thousands of dollars in the balance sheets. The balance sheets also include data from December 29, 2024, for comparison. These figures are based on generally accepted accounting principles in the United States of America.

For a prospective franchisee, understanding the franchisor's financial health is crucial. The total assets figure provides insight into the company's resources and its ability to meet its financial obligations. A higher asset value generally indicates a stronger financial position. However, it's important to consider this figure in conjunction with the company's liabilities and overall financial performance.

In addition to total assets, the balance sheet provides a breakdown of current assets, such as cash and cash equivalents, accounts receivable, and prepaid expenses. It also details contract acquisition costs. Reviewing these components can offer a more granular understanding of the company's asset composition. Liabilities, including accounts payable, accrued liabilities, and deferred revenue, are also listed, which should be considered alongside the asset values to assess the company's overall financial stability.

It is important to note that these financial statements pertain specifically to Buff City Soap Franchising, LLC, which is a subsidiary of Buff City Soap Holdings, LLC. The financial condition of the parent company could also impact the franchise system. Prospective franchisees should consult with a financial advisor to fully understand the implications of these financial statements.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.