What was the amount of deductions (write-offs) for Cool Binz in 2023?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023* | |
|---|---|---|
| Balance, January 1, | $1,115 | $1,746 |
| Additions charged to expense | 358 | 292 |
| Deductions (write-offs) | (259) | (923) |
| Balance, December 31, | $1,214 | $1,115 |
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, the deductions (write-offs) in 2023 were ($923). The table also includes the balance on January 1, 2023, which was $1,746, and the additions charged to expense, which amounted to $292. The balance on December 31, 2023, was $1,115.
These figures provide a snapshot of Cool Binz's financial activity related to deductions and expenses during 2023. A prospective franchisee can use this information to understand the nature and magnitude of write-offs that Cool Binz experienced during that year.
Understanding these deductions can be crucial for assessing the financial health and stability of Cool Binz. It is important to note that the figures are specific to the year 2023 and may not be representative of other years or future performance. A potential franchisee should investigate the reasons behind these deductions and compare them with industry benchmarks to make an informed decision.