What was the total equity for Canopy Lawn Care as of September 30, 2023, as restated?
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 | $ - |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 55)
What This Means (2025 FDD)
According to Canopy Lawn Care's 2025 Franchise Disclosure Document, the total equity as of September 30, 2023, as restated, was $249,789,245. This figure represents the sum of the consolidated member's equity ($249,909,128) and the noncontrolling interest deficit ($119,883).
It's important to note that the consolidated member's equity reflects Outdoor Living Brands Holdco, LLC's equity, which includes the accounts of OLB Holdco and its wholly-owned subsidiaries, including Canopy Franchise Corporation. The noncontrolling interest represents the portion of equity in Canopy Lawn Care not owned by Outdoor Living Brands Holdco, LLC.
For a prospective Canopy Lawn Care franchisee, this indicates the overall financial health and structure of the parent company and its subsidiaries. A substantial equity position can suggest financial stability and the capacity to support the franchise system. However, franchisees should also consider the liabilities and other financial obligations of the company to gain a comprehensive understanding of its financial standing.