What was the amount of royalties and accounts receivable for Canopy Lawn Care in 2023?
Canopy_Lawn_Care Franchise · 2025 FDDAnswer from 2025 FDD Document
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 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 55)
What This Means (2025 FDD)
According to Canopy Lawn Care's 2025 Franchise Disclosure Document, the royalties and accounts receivable, net, for the year 2023 was $8,416,631. This figure represents the total amount of money owed to Canopy Lawn Care from royalties and accounts receivable after accounting for any deductions or allowances.
For a prospective franchisee, this number indicates the scale of financial transactions Canopy Lawn Care handles. It also provides insight into the company's revenue streams and how effectively it manages its receivables. A higher number suggests a larger volume of business and potentially strong brand recognition among customers.
It's important to note that this figure is a snapshot in time and can be influenced by various factors, including seasonal trends, economic conditions, and the company's credit policies. Additionally, the document specifies that the 2023 figures have been 'As Restated,' which may indicate adjustments or corrections made to the original financial statements. Therefore, a prospective franchisee should investigate the reasons for the restatement to fully understand the financial data.