What was the total amount received by Chatime in 2023?
Chatime Franchise · 2025 FDDAnswer from 2025 FDD Document
York
April 18, 2025
CHATIME FRANCHISE LLC (A Limited Liability Company) BALANCE SHEETS DECEMBER 31, 2024 AND 2023
| 2024 | 2023 | ||
|---|---|---|---|
| ASSETS | |||
| Current assets: Cash Accounts and franchise fees receivable Prepaid commissions, current Prepaid expenses Due from member | $ | 144,258 205,053 49,370 5,312 20,108 | $ 5,287 - 6,992 11,950 300,000 |
| Total current assets | 424,101 | 324,229 | |
| Property and equipment, net | 791 | _ | |
| Oth |
Source: Item 23 — Receipts (FDD pages 58–262)
What This Means (2025 FDD)
According to Chatime's 2025 Franchise Disclosure Document, the company's total assets for 2023 were $475,735. This figure represents the sum of Chatime's current assets, property and equipment, and other assets as of December 31, 2023.
Specifically, the current assets included cash, accounts and franchise fees receivable, prepaid commissions, prepaid expenses, and due from member, totaling $324,229. Other assets, net of current prepaid commissions, amounted to $151,506. The FDD does not list a value for property and equipment for 2023.
It is important to note that this figure represents the company's total assets, not necessarily the total revenue or income received during the year. Total assets provide a snapshot of what the company owns at a specific point in time, while revenue and income reflect the company's financial performance over a period of time.