What assets did Buildingstars Management primarily acquire from Impact Visions Ventures Inc. when purchasing Buildingstars Charlotte?
Buildingstars Franchise · 2025 FDDAnswer from 2025 FDD Document
approximately $1,700,000 are secured by deeds of trust and security interests in substantially all of the Company's assets.
Net amounts due from (to) FBF were ($545,847), ($14,995), and $144,560 at December 31, 2024, 2023 and 2022, respectively.
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2024, 2023 and 2022
NOTE 8 — ACQUISITION OF BUSINESS
Effective June 28, 2022, Buildingstars International, Inc. and Impact Visions Ventures Inc., an unrelated master franchisee, agreed to terminate their master franchise a
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 34–43)
What This Means (2025 FDD)
According to Buildingstars' 2025 Franchise Disclosure Document, Buildingstars Management purchased certain assets from Impact Visions Ventures Inc. on June 28, 2022. The assets primarily consisted of customer contracts and sub-franchisee contracts. The total purchase price for these assets was $650,000. This acquisition established the business unit known as Buildingstars Charlotte. The purchase price of $650,000 was assigned to goodwill and fixed assets.
This information is relevant for prospective franchisees as it provides insight into Buildingstars' growth strategy through acquisitions. Understanding the types of assets Buildingstars acquires, such as customer and sub-franchisee contracts, can help a potential franchisee assess the value and potential of similar acquisitions in the future. The allocation of the purchase price to goodwill and fixed assets also indicates how Buildingstars values these acquired assets on its financial statements.
It's important to note that the FDD mentions this specific acquisition in Charlotte, but it does not detail the specific terms or conditions of the asset purchase agreement beyond the types of assets acquired and the total purchase price. A prospective franchisee might want to inquire further about the due diligence process, the performance of the acquired contracts, and any potential liabilities assumed as part of the acquisition. Understanding these aspects can provide a more comprehensive view of the benefits and risks associated with such transactions.