What was the net value of Card My Yard's goodwill in 2023?
Card_My_Yard Franchise · 2025 FDDAnswer from 2025 FDD Document
LLC. The sellers can earn additional cash consideration up to $5,605,000 if certain sales metrics are met within the 36-month period after closing.
FS PEP HOLDCO, LLC and SUBSIDIARIES
Consolidated Financial Statements As of December 31, 2024 and 2023 and For the Years Then Ended
Together with Independent Auditors' Report
Independent Auditors' Report
To the Board of Managers of FS PEP Holdco, LLC
Opinion
We have audited the accompanying consolidated financial statements of FS PEP Holdco, LLC and subsidiaries (collectively,the Company), which comprise the consolidated balance sheets as of December 31, 2024 and 2023, and the related consolidated statements of operations, members' equity, and cash flows for the years then ended, and the related notes to consolidated financialstatements.
Inour opinion,the consolidated financialstatementsreferred toabove presentfairly,in allmaterialrespects, the financial position of FSPEP Holdco, LLC and subsidiaries as of December 31, 2024 and 2023, and the results oftheir operations and their cash flows for the years then ended in accordance with accounting principles generally accepted in the UnitedStates of America.
Due to the March 2024 acquisition of an entity under common control, CMY Holdco, LLC (Note 2), the historical activity prior to the acquisition of CMY Holdco, LLC and its wholly-owned subsidiary, Card my Yard Franchising, LLC, have been retrospectively combined in the consolidated fi
Source: Item 23 — RECEIPTS (FDD pages 84–259)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, the independent auditors' report includes the consolidated balance sheets as of December 31, 2024, and 2023, for FS PEP Holdco, LLC and subsidiaries, which includes Card My Yard Franchising, LLC. The report indicates that the 2023 financial statements of Card My Yard Franchising, LLC, reflect total assets of $10,040,671 and total revenues of $3,521,565.
However, the provided excerpt from Card My Yard's FDD does not explicitly state the net value of the company's goodwill for 2023. While the document mentions goodwill in the context of protecting the brand's image and reputation, it does not provide a specific monetary value assigned to it on the balance sheet.
A prospective franchisee should directly ask Card My Yard's franchisor for the specific net value of goodwill as of December 31, 2023, to gain a clearer understanding of the company's financial position and intangible assets. Understanding the valuation of goodwill can be important in assessing the overall financial health and stability of the franchise system.