What was the total value of Canopy Lawn Care's current assets as of September 30, 2024?
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 company's total current assets as of 2024 were $19,459,852. The FDD also provides a breakdown of the current assets, including cash, royalties and accounts receivable, rebates receivable, notes receivable, inventory, and prepaid expenses.
For a prospective franchisee, understanding the composition of Canopy Lawn Care's assets can offer insights into the company's financial health and liquidity. A significant portion of current assets is tied to receivables, which indicates sales but also highlights the importance of efficient collection processes. Inventory also constitutes a notable part of current assets, reflecting the scale of product sales within the franchise system.
Comparing the 2024 figures to previous years, the total current assets have increased from $17,420,611 in 2023 and $9,655,997 in 2022. This growth trend may indicate positive business development and expansion. Reviewing these figures allows potential franchisees to assess the financial stability and growth trajectory of Canopy Lawn Care.
It is important to note that these figures are 'as restated,' suggesting possible adjustments from previously reported values. Prospective franchisees should inquire about the reasons for these restatements to fully understand the company's financial reporting practices and historical performance.