What was the total value of Bumble Roofing's 'Intangibles, net' in 2024?
Bumble_Roofing Franchise · 2025 FDDAnswer from 2025 FDD Document
HOLDCO, LLC CONSOLIDATED BALANCE SHEETS SEPTEMBER 30, 2024, 2023, AND 2022
ASSETS
| 2024 | 2023 ("As Restated") | 2022 ("As Restated") | |
|---|---|---|---|
| Current Assets | |||
| Cash | $ 2,941,232 | $ 1,737,401 | $ 1,492,295 |
| Royalties and accounts receivable, net | 10,215,595 | 8,416,631 | 5,544,544 |
| Rebates receivable, net | 1,889,160 | 1,815,484 | - |
| Notes receivable | 97,904 | 24,492 | 231,429 |
| Inventory | 3,461,346 | 3,215,098 | 950,753 |
| Prepaid expenses and other | 854,615 | 2,211,505 | 1,436,976 |
| Total Current Assets | 19,459,852 | 17,420,611 | 9,655,997 |
| Property and Equipment, Net | 3,998,259 | 3,511,245 | 1,952,874 |
| Other Assets | |||
| Notes receivable, net of current portion | 623,693 | 293,452 | 199,591 |
| Intangibles, net | 237,978,533 | 246,073,099 | 153,303,800 |
| Right-of-use assets | 4,548,121 | 2,972,324 | - |
| Other assets | 37,688 | 28,923 | 28,923 |
| Due from affiliated companies | - | - | 958,379 |
| 243,188,035 | 249,367,798 | 154,490,6 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 53)
What This Means (2025 FDD)
According to Bumble Roofing's 2025 Franchise Disclosure Document, the value of 'Intangibles, net' for the year 2024 was $237,978,533. This figure represents the net value of intangible assets, which can include items such as franchise agreements, trademarks, internally developed software, and goodwill, after accounting for amortization and any impairment.
Intangible assets are amortized over a period of 5-15 years, and Bumble Roofing periodically evaluates these assets to determine if their useful life needs revision or if they have become impaired. Goodwill, however, is not amortized but is tested for impairment annually or when events occur that may reduce its fair value.
For a prospective Bumble Roofing franchisee, understanding the value and management of these intangible assets is crucial. These assets, particularly the brand's trademarks and franchise agreements, are key to the franchise's identity and market position. The large value of intangibles suggests that Bumble Roofing has a significant investment in its brand and related assets. Franchisees benefit from the value of these intangibles, but should also be aware of how amortization and potential impairment could affect the company's financial statements.