What was the net intangible assets amount for Card My Yard in 2024?
Card_My_Yard Franchise · 2025 FDDAnswer from 2025 FDD Document
c cash payments. During the year ended December 31, 2024,the Company received cash paymentstotaling $4,950,000 and the remaining receivable amount of $820,000 is due in September 2025.
The Company determined that since this settlement was related to the acquisition of Packouts, the settlement of amount would be treated as a reduction in the related purchase price and the acquired assets.
3. Goodwill and Intangible Assets
Goodwill and intangible assets consist of the following as of December
Source: Item 23 — RECEIPTS (FDD pages 84–259)
What This Means (2025 FDD)
According to Card My Yard's 2025 Franchise Disclosure Document, the net intangible assets for 2024 were $98,235,306. This figure represents the total value of Card My Yard's intangible assets, such as its trade name, franchise agreements, and goodwill, minus accumulated amortization. Amortization is the process of expensing the cost of an intangible asset over its useful life.
Intangible assets are non-physical assets that have value because they give Card My Yard a competitive advantage. For example, the Card My Yard trade name is a valuable asset because it is recognizable to customers. Franchise agreements are valuable because they give Card My Yard the right to operate franchises. Goodwill is an intangible asset that represents the excess of the purchase price of a business over the fair market value of its identifiable net assets.
The accumulated amortization represents the total amount of amortization expense that has been recognized on Card My Yard's intangible assets to date. The net intangible assets is an important metric for Card My Yard because it reflects the value of its intangible assets, which are a key driver of its profitability. A prospective franchisee may want to monitor this figure to assess the overall financial health and stability of the Card My Yard franchise system.
In 2023, Card My Yard's intangible assets, net amounted to $116,543,252. The decrease in net intangible assets from 2023 to 2024 could be due to increased amortization expenses or a reassessment of the value of intangible assets. For the years ended December 31, 2024 and 2023, amortization expense resulting from goodwill and intangible assets was $11,662,770 and $12,639,099, respectively.