What was the total cash asset amount for Chem Dry in 2023?
Chem_Dry Franchise · 2024 FDDAnswer from 2024 FDD Document
| Current Assets | |||
|---|---|---|---|
| Cash | $3,701 | $1,372 | $3,467 |
| Restricted cash | 781 | 345 | 372 |
| Accounts receivable - Net | 2,338 | 3,074 | 6,331 |
| Inventory (Note 6) | 5,683 | 4,393 | 2,871 |
| Notes receivable - Current portion net of | |||
| allowance (Note 7) | 639 | 1,661 | 3,567 |
| Prepaid expenses and other current assets | 625 | 346 | 691 |
| Total current assets | 13,767 | 11,191 | 17,299 |
| Right-of-use Assets - Net | 3,098 | 1,379 | 2,392 |
| Property and Equipment - Net (Note 8) | 2,220 | 1,701 | 1,610 |
| Goodwill (Note 9) | 10,519 | 56,056 | 57,322 |
| Intangible Assets - Net (Note 9) | 28,264 | 32,566 | 42,516 |
Source: Item 23 — Receipts (FDD pages 68–264)
What This Means (2024 FDD)
According to Chem Dry's 2024 Franchise Disclosure Document, the company's total cash assets for 2023 were $3,701,000. This figure represents the amount of cash Chem Dry had on hand as of December 31, 2023. The document also provides cash asset figures for 2022 and 2021 for comparison.
For a prospective franchisee, understanding Chem Dry's cash position can offer insights into the company's financial stability and its ability to support its franchisees. A healthy cash balance suggests that Chem Dry has sufficient liquidity to meet its short-term obligations and invest in growth initiatives.
It is important to note that this cash asset figure is just one component of Chem Dry's overall financial health. A prospective franchisee should review the entire Item 23, including all assets, liabilities, and equity, to gain a comprehensive understanding of the company's financial position. Additionally, comparing these figures over the three-year period can reveal trends and potential areas of concern or strength.