What was the amount of Canopy Lawn Care's rebates receivable, net, as of September 30, 2023?
Canopy_Lawn_Care Franchise · 2025 FDDAnswer from 2025 FDD Document
| 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 | 1 0,215,595 | 8 ,416,631 | 5 ,544,544 | ||
| Rebates receivable, net | 1 ,889,160 | 1 ,815,484 | - | ||
| Notes receivable | 9 7,904 | 2 4,492 | 2 31,429 | ||
| Inventory | 3 ,461,346 | 3 ,215,098 | 9 50,753 | ||
| Prepaid expenses and other | 8 54,615 | 2 ,211,505 | 1 ,436,976 | ||
| Total Current Assets | 1 9,459,852 | 1 7,420,611 | 9 ,655,997 |
Source: Item 23 — RECEIPT (FDD pages 55–199)
What This Means (2025 FDD)
According to Canopy Lawn Care's 2025 Franchise Disclosure Document, the rebates receivable, net, as of 2023 was $1,815,484. This figure represents the amount of rebates that Canopy Lawn Care expected to receive, net of any allowances for uncollectible amounts, as of the end of their fiscal year in 2023.
For a prospective franchisee, rebates receivable can be an indicator of the company's financial health and its ability to manage its assets. A higher number of rebates receivable suggests that the company is generating a significant amount of rebates, which can contribute to its overall profitability. However, it is also important to consider the company's collection practices and the likelihood of actually receiving these rebates.
It's worth noting that the 2023 figures are "As Restated", which means that Canopy Lawn Care has made adjustments to previously reported financial information. This could be due to a variety of reasons, such as changes in accounting policies or the correction of errors. Franchisees should inquire about the reasons for the restatement to fully understand the financial data presented.