What was the gross amount of Canopy Lawn Care's operating lease liabilities?

According to Canopy Lawn Care's 2025 Franchise Disclosure Document, the gross operating lease liabilities totaled $6,456,166 as of September 30, 2024. This figure represents the total undiscounted amount of future lease payments that Canopy Lawn Care is obligated to make under its operating leases.

It's important to note that this gross amount is then reduced by a present value discount of $814,754 to arrive at the present value of operating lease liabilities, which is $5,641,412. The present value reflects the time value of money, essentially discounting future payments to their worth today. Furthermore, the current portion of these liabilities, amounting to $965,045, represents the portion due within the next year. The remaining $4,676,367 is classified as long-term operating lease liabilities.

For a prospective Canopy Lawn Care franchisee, understanding these lease liabilities is crucial. It provides insight into the company's financial obligations related to leased properties, such as office or warehouse space. Reviewing the lease terms, maturity dates, and associated costs can help a franchisee assess the financial health and stability of the franchisor. Additionally, it's a common practice for franchisors to lease property, so this information allows you to see how Canopy Lawn Care handles its lease obligations.

It is important to note that these figures are as of September 30, 2024, and may have changed since then. A prospective franchisee should request the most up-to-date financial information from Canopy Lawn Care to ensure they have a clear picture of the company's current financial standing.