What was the value of Bumble Roofing's goodwill in 2024?
Bumble_Roofing Franchise · 2025 FDDAnswer from 2025 FDD Document
angible Assets (Continued)
Intangible assets consists of the following at September 30:
| Estimated Useful Life | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Franchise agreements | 7 years | $ 55,934,000 | $ 55,934,000 | $ 30,710,000 |
| Internally developed software | 5 years | 7,650,056 | 6,935,010 | 6,617,000 |
| Trademarks | 15 years | 4,286,000 67,870,056 | 4,286,000 67,155,010 | 1,840,000 39,167,000 |
| Less: accumulated amortizatio | n | (23, 109, 087) 44,760,969 | (12,903,224) 54,251,786 | (5,559,873) 33,607,127 |
| Goodwill | Indefinite | 193,217,564 | 191,8 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 53)
What This Means (2025 FDD)
According to Bumble Roofing's 2025 Franchise Disclosure Document, the company's goodwill was valued at $193,217,564 in 2024. Goodwill, which is not amortized, represents the intangible asset connected to Bumble Roofing's brand reputation and acquisition of Bumble-LA. The company assesses goodwill for impairment annually, and also between annual tests if events occur that could diminish the fair value of a reporting unit below its carrying value.
For a prospective Bumble Roofing franchisee, this indicates the financial importance the franchisor places on its brand and reputation. The large goodwill figure suggests that Bumble Roofing has made significant investments in building its brand or acquired businesses with strong reputations.
It's important to note that while goodwill is considered an asset, its value can fluctuate and potentially decrease if the Bumble Roofing brand suffers damage or if the overall business performance declines. Franchisees benefit from a strong brand, but should also be aware that the goodwill value is subject to periodic review and potential adjustments by the company.