What was the consolidated member's equity for Canopy Lawn Care as of September 30, 2024?
Canopy_Lawn_Care Franchise · 2025 FDDAnswer from 2025 FDD Document
ENTS 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) | - | (26,088,010) |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 55)
What This Means (2025 FDD)
According to Canopy Lawn Care's 2025 Franchise Disclosure Document, the consolidated member's equity as of September 30, 2024, was $244,456,766. This figure represents the total equity attributable to the members of Outdoor Living Brands Holdco, LLC, which is the parent company of Canopy Lawn Care.
It's important to note that this amount is part of the overall consolidated financial statements for Outdoor Living Brands Holdco, LLC, which includes several other franchise brands in addition to Canopy Lawn Care. The consolidated statements provide a comprehensive view of the financial position of the parent company and all its subsidiaries.
Prospective franchisees should understand that this equity figure reflects the overall financial health and retained earnings of the parent company, not necessarily the individual performance of Canopy Lawn Care. Reviewing the complete financial statements and notes is crucial to understanding the context of this number and the financial obligations and performance of the parent company and its subsidiaries.