What was the total value of Chesters' assets in 2022?
Chesters Franchise · 2025 FDDAnswer from 2025 FDD Document
mingham, Alabama April 4, 2024
CHESTER'S INTERNATIONAL, LLC BALANCE SHEETS DECEMBER 31, 2023 AND 2022
| ASSETS | ||
|---|---|---|
| 2023 | 2022 | |
| CURRENT ASSETS | ||
| Cash | $ 2,515,674 | $ 2,392,340 |
| Accounts receivable, net of allowance for | ||
| doubtful accounts | 5,299,346 | 3,735,366 |
| Due from related parties | 1,117,539 | 684,044 |
| Inventories, net | 1,247,308 | 1,130,712 |
| Prepaid expenses | 49,815 | 101,200 |
| Total current assets | 10,229,682 | 8,043,662 |
| PROPERTY AND EQUIPMENT, NET | 878,650 | 148,788 |
| OPERATING LEASE RIGHT-OF-USE ASSETS, NET | 1,820,812 | 1,304,672 |
| GOODWILL, NET | 1,613,657 | 1,936,3 |
Source: Item 21 — **FINANCIAL STATEMENTS (FDD page 48)
What This Means (2025 FDD)
According to Chesters's 2025 Franchise Disclosure Document, the company's total assets in 2022 amounted to $11,486,176. The balance sheets provide a detailed breakdown of these assets, including current assets like cash, accounts receivable, amounts due from related parties, inventories, and prepaid expenses.
Specifically, the current assets totaled $8,043,662 in 2022. Additionally, Chesters held property and equipment valued at $148,788, operating lease right-of-use assets at $1,304,672, goodwill at $1,936,388 and intangible assets at $52,666. These figures offer insight into the composition of Chesters's assets and their relative significance to the company's overall financial position.
For a prospective franchisee, understanding the asset structure of Chesters can be valuable in assessing the financial health and stability of the franchisor. It's important to note that these figures are based on audited financial statements, providing a degree of assurance regarding their accuracy. Reviewing these figures in comparison to previous years and industry benchmarks can further inform a potential franchisee's investment decision.