What was the amount of internally developed software additions for Bumble Roofing in 2022, as restated?
Bumble_Roofing Franchise · 2025 FDDAnswer from 2025 FDD Document
IDATED STATEMENTS OF CASH FLOWS FOR THE YEARS ENDING SEPTEMBER 30, 2024, 2023, AND 2022
| 2024 | 2023 ("As Restated") | 2022 ("As Restated") | |
|---|---|---|---|
| Cash Flows from Operating Activities: | |||
| Net income | $ 20,459,018 | $ 9,920,680 | $ 6,089,513 |
| Adjustments to reconcile net income | |||
| to net cash provided by operating activities: | |||
| Bad debt expense | 300,531 | 59,046 | 82,201 |
| Depreciation and amortization | 10,773,355 | 7,910,727 | 5,494,567 |
| Lease expense | 940,945 | 519,344 | - |
| Operating lease payments | (657,754) | (265,181) | - |
| Changes in assets and liabilities: | (0.000.10=) | (=00.000) | (0.044.045) |
| Royalties and accounts receivable | (2,099,495) | (729,389) | (2,044,615) |
| Rebates receivable | (73,676) | (1,815,484) | (47.454) |
| Notes receivable | (403,653) | 113,076 | (17,454) |
| Inventory Prepaid expenses and other assets | (246,248) | (1,043,705) | (122,300) |
| 1,348,125 | 192,280 | (976,687) | |
| Accounts payable and accrued expenses | 153,274 | 2,121,617 | 925,000 |
| Deferred revenues on franchise sales | (1,253,452) , , , , | (824,331) | 1,337,600 |
| Customer deposits | (502,153) | 706,594 | (306,386) |
| Net Cash Provided by Operating Activities | 28,738,817 | 16,865,274 | 10,461,439 |
| Cash Flows from Investing Activities: | |||
| Purchases of property and equipment | (1,054,507) | (1,494,918) | (467,351) |
| Internally developed software additions | (715,046) | (318,010) | (267,000) |
| Net cash received from acquisition of Koala and Wallaby | - | 33,145 | - |
| Net cash received from acquisition of Canopy | - | 641 | - |
| Cash paid for Bumble Bee of LA | (421,250) | - | - |
| Acquisition of Junk Junk Baby | (125,000) | - | |
| Net advances from (repayments to) affiliated companies | 743,827 | 2,966,646 | (3,790,229) |
| Net Cash Provided (Required) by Investing Activities | (1,446,976) | 1,062,504 | (4,524,580) |
| Cash Flows from Financing Activities: | |||
| Net distributions to Member | (26,088,010) | (17,682,672) | (5,078,245) |
| Net Cash Required by Financing Activities | (26,088,010) | (17,682,672) | (5,078,245) |
| Net Change in Cash | 1,203,831 | 245,106 | 858,614 |
| Cash, Beginning of Year | 1,737,401 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 53)
What This Means (2025 FDD)
According to Bumble Roofing's 2025 Franchise Disclosure Document, the amount of internally developed software additions for the company in 2022, as restated, was $267,000. This figure represents the capital investment Bumble Roofing made into its own software development during that year.
For a prospective franchisee, this indicates that Bumble Roofing invests in technology and software to support its operations. These software additions could be related to franchise management, customer relationship management, or other systems designed to improve efficiency and service delivery. The fact that this is a restated figure suggests that there may have been adjustments made to the initial accounting, which is not uncommon during financial audits or reviews.
It's important for potential franchisees to understand how Bumble Roofing's technology investments benefit them directly. For example, does the software streamline operations, reduce costs, or enhance customer service? Understanding the specific applications and benefits of this internally developed software can help a franchisee assess the value of the franchise opportunity. Additionally, franchisees may want to inquire about ongoing technology fees or requirements to use specific software platforms, as these can impact their overall investment and operating costs.