What were Cinch I.T.'s total current assets in 2021?
Cinch_I_T Franchise · 2024 FDDAnswer from 2024 FDD Document
| CINCH FRANCE | HISE, LLC | |||
|---|---|---|---|---|
| BALANCE S | ||||
| DECEMBER 31, 20 | 22 AND 2021 | |||
| $15-50-50MS(7M-4-5 | 40.000 | |||
| ASSET | S | 2022 | 2021 | |
| CURRENT ASSETS | - | |||
| Cash | S | 189.038 | S | 101,234 |
| Receivables: | ||||
| Trade | 54,720 | 112,709 | ||
| Employee Retention Credit | 7 | 32.487 | ||
| Prepaid expenses | 14.494 | 14,697 | ||
| TOTAL CURRENT ASSETS | S _ | 258,252 | S | 261.127 |
Source: Item 23 — RECEIPTS (FDD pages 60–269)
What This Means (2024 FDD)
According to Cinch I.T.'s 2024 Franchise Disclosure Document, the company's total current assets in 2021 were $261,127. This figure represents the sum of Cinch I.T.'s cash, receivables (trade and employee retention credit), and prepaid expenses at the end of the 2021 fiscal year.
For a prospective franchisee, understanding the franchisor's asset position can provide insights into the financial health and stability of the company. Current assets are particularly important as they reflect the company's ability to meet its short-term obligations and invest in future growth. A healthy level of current assets suggests that Cinch I.T. is managing its finances effectively and has sufficient resources to support its franchisees.
It is important to note that these figures are based on Cinch I.T.'s balance sheets and may not be indicative of the financial performance of individual franchise locations. Prospective franchisees should conduct their own due diligence and consult with a financial advisor to assess the financial viability of investing in a Cinch I.T. franchise.