What was the reported value of Bumble Roofing's vehicles and equipment as of September 30, 2024?
Bumble_Roofing Franchise · 2025 FDDAnswer from 2025 FDD Document
Equipment (Continued)
Property and equipment consists of the following at September 30:
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Leasehold improvements | $ 2,733,134 | $ 2,295,625 | $ 799,907 |
| Furniture and fixtures | 282,614 | 276,558 | 276,558 |
| Office equipment | 190,411 | 38,506 | 20,273 |
| Vehicles and equipment | 1,949,857 | 1,573,129 | 1,104,812 |
| Computer equipment and software | 162,420 | 143,479 | - |
| Construction in progress | 61,617 | - | - |
| 5,380,053 | 4,327,297 | 2,201,550 | |
| Less: accumulated depreciation and | |||
| amortization | (1,381,794) | (816,052) | (248,676) |
| $ 3,998,259 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 53)
What This Means (2025 FDD)
According to Bumble Roofing's 2025 Franchise Disclosure Document, the reported value of vehicles and equipment as of September 30, 2024, was $1,949,857. This figure represents the original cost of the vehicles and equipment before any deductions for accumulated depreciation and amortization.
For a prospective Bumble Roofing franchisee, this number provides insight into the scale of assets the company owns and utilizes in its operations. It can be compared to previous years to understand the company's investment trends in essential equipment. The 2023 value was $1,573,129 and the 2022 value was $1,104,812.
It's important to note that this value does not reflect the current market value or condition of the vehicles and equipment. The depreciated value, which accounts for wear and tear over time, would be lower. Franchisees may want to inquire about the types of vehicles and equipment included in this category to better understand the operational needs and potential capital expenditures for their own franchise.
Reviewing the accumulated depreciation and amortization alongside the original cost provides a more complete picture of the net value and useful life of these assets. As of September 30, 2024, the accumulated depreciation and amortization was reported as ($1,381,794).