What was the amount of member contributions receivable for Clean Your Dirty Face in 2024?
Clean_Your_Dirty_Face Franchise · 2025 FDDAnswer from 2025 FDD Document
ring the audit.
Canfield, Ohio March 17, 2025
Balance Sheets December 31, 2024 and 2023
Assets
| 2024 | 2023 | ||
|---|---|---|---|
| Current Assets | |||
| Cash and cash equivalents | $ 20,963 | $ | 23,501 |
| Investments - at fair market value | 750,000 | 1,276,253 | |
| Accounts recei |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 54)
What This Means (2025 FDD)
According to Clean Your Dirty Face's 2025 Franchise Disclosure Document, the member contributions receivable in 2024 was $300,000. This figure represents the amount of money owed to Clean Your Dirty Face by its members as of the end of the 2024 fiscal year. Member contributions receivable is listed as a current asset on the balance sheet.
For a prospective franchisee, this indicates the franchisor's financial interactions with its members and how these are accounted for in its financial statements. It's important to note that while this is an asset for Clean Your Dirty Face, it also reflects an amount that franchisees or members still need to pay.
Reviewing the trend of member contributions receivable over several years, if available, could provide insights into the payment patterns of members and the effectiveness of Clean Your Dirty Face's collection efforts. Additionally, understanding the terms and conditions under which these contributions are to be paid is crucial for assessing the financial health and stability of the franchise system.