What was the reported value of Card My Yard's vehicles in 2022?
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)
The 2025 Card My Yard Franchise Disclosure Document does not specifically state the value of Card My Yard's vehicles in 2022. However, the document includes an Independent Auditors' Report that mentions the consolidated financial statements of FS PEP Holdco, LLC and subsidiaries, which include Card My Yard Franchising, LLC. The report indicates that the financial statements for 2023 were audited, reflecting total assets of $10,040,671 and total revenues of $3,521,565.
Item 23 discusses various financial aspects, such as liquidated damages for unauthorized closure, non-reporting fees, and the terms under which Card My Yard might acquire a franchisee's assets. It mentions that if Card My Yard exercises its option to acquire a franchise, the purchase price for yard letters and signs will be zero, while other assets like equipment, fixtures, and vehicles will be purchased at fair market value, considering depreciation and condition. However, this section does not provide a specific valuation for vehicles in 2022.
To obtain the specific vehicle valuation for 2022, a prospective franchisee should directly request this information from Card My Yard. This request could be directed to Joshua Arnold, whose contact information is provided in the FDD for notice purposes. Understanding the asset valuation and depreciation methods would be important for a franchisee's financial planning and potential future transactions with the franchisor.