What was the total value of Canopy Lawn Care's property and equipment, net, in 2022?
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 | ||
| Property and Equipment, Net | 3 ,998,259 | 3 ,511,245 | 1 ,952,874 | ||
| Other Assets | |||||
| Notes receivable, net of current portion | 6 23,693 | 2 93,452 | 1 99,591 | ||
| Intangibles, net | 2 37,978,533 | 2 46,073,099 | 1 53,303,800 | ||
| Right-of-use assets | 4 ,548,121 | 2 ,972,324 | - | ||
| Other assets | 3 7,688 - | 2 8,923 | 2 8,923 - | 9 58,379 | |
| Due from affiliated companies | |||||
| 2 43,188,035 | 2 49,367,798 $ 2 66,646,146 | 1 54,490,693 | $ 2 70,299,654 | $ 1 66,099,564 |
Source: Item 23 — RECEIPT (FDD pages 55–199)
What This Means (2025 FDD)
According to Canopy Lawn Care's 2025 Franchise Disclosure Document, the total value of its property and equipment, net, in 2022 was $1,952,874. This figure represents the company's investment in physical assets such as vehicles, machinery, and office equipment, minus accumulated depreciation.
For a prospective franchisee, this number provides insight into the capital intensity of Canopy Lawn Care's operations. A higher value might suggest a greater reliance on physical assets to generate revenue, while a lower value could indicate a more service-oriented or asset-light business model. Understanding the composition and value of these assets can help a franchisee assess the company's financial health and operational efficiency.
It's important to note that this figure is "as restated," which means that Canopy Lawn Care may have made adjustments to its previously reported financials. Franchisees should inquire about the reasons for these restatements to fully understand the company's financial history and reporting practices. Reviewing the trends in property and equipment value over the three years (2022-2024) can also provide a clearer picture of Canopy Lawn Care's investment strategy and growth trajectory.