What was the total goodwill for Chesters as of December 31, 2024?
Chesters Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | |
|---|---|---|
| Furniture and equipment | $ 536,084 | $ 533,910 |
| Leasehold improvements | 1,057,728 | 214,927 |
| Vehicles | 40,000 | 53,165 |
| Construction-in-progress | - | 478,828 |
| Less accumulated depreciation | 1,633,812 | 1,280,830 |
| (533,730) | (402,180) | |
| $ 1,100,082 | $ 878,650 |
Depreciation expense for the years ended December 31, 2024 and 2023, was $169,673 and $49,343 , respectively.
**4. GOODWILL AND INTANGIBL
Source: Item 21 — **FINANCIAL STATEMENTS (FDD page 48)
What This Means (2025 FDD)
According to Chesters's 2025 Franchise Disclosure Document, Item 21 contains the financial statements for the company. Note 4, titled "GOODWILL AND INTANGIBLE ASSETS" provides information on goodwill. However, the specific amount of goodwill for Chesters as of December 31, 2024, is not present in the provided excerpts.
While the excerpts confirm that changes in the carrying amount of goodwill are detailed as of December 31, the actual figures are missing. This information is crucial for prospective franchisees to assess the financial health and stability of Chesters. Goodwill typically represents the intangible assets of a business, such as brand reputation and customer relationships, which can be a significant factor in its overall valuation.
To gain a comprehensive understanding of Chesters's financial position, a prospective franchisee should specifically request the complete audited financial statements, including the balance sheets and related notes, from the franchisor. This will allow them to review the goodwill figures and other relevant financial data for both 2024 and 2023. Understanding the trend and composition of goodwill can provide valuable insights into the long-term prospects of the franchise system.