What was the total amount of cash Card My Yard had in 2024?
Card_My_Yard Franchise · 2025 FDDAnswer from 2025 FDD Document
cial statements.
- Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for a reasonable period of time.
We are required to communicate wi
Source: Item 23 — RECEIPTS (FDD pages 84–259)
What This Means (2025 FDD)
According to Card My Yard's 2025 Franchise Disclosure Document, the company's cash holdings in 2024 totaled $3,690,691. This figure is part of the company's assets, specifically listed under current assets. The FDD also provides a comparative figure for the previous year, 2023, when Card My Yard held $1,455,349 in cash.
This information is relevant for prospective franchisees as it provides insight into the financial health and liquidity of Card My Yard. A substantial cash balance suggests that the company has sufficient funds to cover its short-term obligations and potentially invest in growth opportunities. Franchisees may consider this a positive indicator of the stability and reliability of the franchisor.
However, it's important to note that cash is just one component of a company's overall financial picture. Prospective franchisees should also review other financial metrics, such as revenues, expenses, and liabilities, to gain a comprehensive understanding of Card My Yard's financial performance. Additionally, they should compare these figures to industry benchmarks to assess how Card My Yard performs relative to its competitors.
Furthermore, the FDD also lists "Restricted cash" as a separate item, which amounted to $840,143 in 2023 but is not listed in 2024. Restricted cash is cash that is reserved for a specific purpose and not available for general use. The absence of this item in 2024 could indicate a change in the company's financial strategy or obligations. Prospective franchisees may want to inquire about the nature of this restricted cash and the reasons for its disappearance in 2024 to fully understand its implications.