What was the total value of Canopy Lawn Care's inventory in 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 inventory value for 2024 was $3,461,346. The FDD also provides inventory values for previous years, with the 2023 value being $3,215,098 and the 2022 value being $950,753.
This figure represents the total value of all physical goods that Canopy Lawn Care held for sale or use in its operations during 2024. This includes items such as lawn care products, equipment, and any other materials the company uses to provide its services. For a prospective franchisee, understanding the inventory value can be important for assessing the company's financial health and how efficiently it manages its resources.
Reviewing the trend in inventory values over the three years (2022-2024) shows a steady increase, which could indicate growth in the company's operations or changes in its inventory management practices. A potential franchisee might want to inquire about the types of inventory Canopy Lawn Care typically holds and how inventory is managed to ensure efficient operations and minimize waste.
It is also important to note that these figures are part of Canopy Lawn Care's overall assets, which totaled $19,459,852 in current assets for 2024. Inventory makes up a significant portion of these current assets, highlighting its importance to the company's financial position. Prospective franchisees should consider these figures in the context of the company's overall financial statements to gain a comprehensive understanding of its financial health.