What was the restated Member's Equity for Bumble Roofing at the end of 2022?
Bumble_Roofing Franchise · 2025 FDDAnswer from 2025 FDD Document
D STATEMENTS OF MEMBER'S EQUITY FOR THE YEARS ENDING SEPTEMBER 30, 2024, 2023, AND 2022
| Consolidated Member's Equity | Noncontrolling Interest | Total Equity | |
|---|---|---|---|
| Balance, September 30, 2021, as Previously Stated | $ 90,140,596 | $ - | $ 90,140,596 |
| Prior Period Adjustment - Change in Accounting Policy (Note 10) | 26,757 | - | 26,757 |
| Balance, September 30, 2021, as Restated | 90,167,353 | - | 90,167,353 |
| Net Income, as Restated | 6,089,513 | - | 6,089,513 |
| Distributions to Member | (5,078,245) | - | (5,078,245) |
| Contributions from Member | 69,256,426 | - | 69,256,426 |
| Balance, September 30, 2022, as Restated | 160,435,047 | - | 160,435,047 |
| Net Income (Loss), as Restated | 10,040,763 | (120,083) | 9,920,680 |
| Distributions to Member | (17,682,672) | - | (17,682,672) |
| Contributions from Member | 97,115,990 | 200 | 97,116,190 |
| Balance, September 30, 2023, as Restated | 249,909,128 | (119,883) | 249,789,245 |
| Net Income (Loss) | 20,635,648 | (176,630) | 20,459,018 |
| Distributions to Member | (26,088,010) | - | (26, |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 53)
What This Means (2025 FDD)
According to Bumble Roofing's 2025 Franchise Disclosure Document, the consolidated member's equity as restated on September 30, 2022, was $160,435,047. This figure represents the total equity attributable to the member after accounting for prior period adjustments and other financial activities up to that date.
This number is significant for prospective franchisees as it provides insight into the financial stability and overall equity position of Bumble Roofing. A higher member's equity generally indicates a stronger financial foundation, which can be reassuring for franchisees investing in the brand. It reflects the accumulated capital, retained earnings, and contributions made by the member, less any distributions.
It is important to note that this figure is as of September 30, 2022, and may not reflect the most current financial standing of Bumble Roofing. Additionally, the FDD includes a note regarding the principles of consolidation and presentation, stating that the financial statements include the accounts of OLB Holdco and its wholly-owned subsidiaries. Therefore, this equity figure is part of a consolidated statement, reflecting the financial position of the entire group, not just Bumble Roofing in isolation.
Prospective franchisees should review the entire financial statements and accompanying notes in the FDD to gain a comprehensive understanding of Bumble Roofing's financial health. Consulting with a financial advisor is also recommended to assess the implications of these figures for their investment decision.