What was the amount of Furniture and Fixtures for Craters & Freighters as of December 31, 2024?
Craters_Freighters Franchise · 2025 FDDAnswer from 2025 FDD Document
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| As of December 31, | 2024 | 2023 |
|---|---|---|
| Current Assets: | ||
| Cash and Cash Equivalents | $ 5,342,958 $ | 6,991,649 |
| Marketable Securities - At Fair Market Value | 780,245 | 634,869 |
| Accounts Receivable - Net of Allowance for | ||
| Credit Losses of $20,000 and $50,000, Respectively | 702,206 | 569,660 |
| Other Receivable | 132,658 | - |
| Notes Receivable | 11,662 | - |
| Prepaid Expenses | 234,686 | 201,226 |
| Inventories | 7,592 | - |
| Total Current Assets | 7,212,007 | 8,397,404 |
| Property and Equipment - At Cost: | ||
| Office Equipment | 102,860 | 80,613 |
| Furniture and Fixtures | 19,863 | 19,863 |
| Leasehold Improvements | 11,415 | 11,415 |
| Vehicles | 202,688 | 202,688 |
| 336,826 | 314,579 | |
| Less: Accumulated Depreciation | (175,649) | (133,628 |
| Property and Equipment - Net | 161,177 | 180,951 |
| Other Assets: | ||
| Software Development - Net of Accumulated | ||
| Amortization of $434,154 and $317,185, Respectively | 197,251 | 153,931 |
| Due from Related Party | - | 356,391 |
| Notes Receivable | 5,329 | - |
| Note Receivable - Former Employee | 160,000 | 160,000 |
| Right-of-Use Asset - Operating Lease | 56,053 | 130,071 |
| Deposits | 12,546 | 12,546 |
| Total Other Assets | 431,179 | 812,939 |
| TOTAL ASSETS | $ 7,804,363 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 49)
What This Means (2025 FDD)
According to Craters & Freighters' 2025 Franchise Disclosure Document, the cost of Furniture and Fixtures as of December 31, 2024, was $19,863. This figure represents the original purchase price of these assets before any depreciation is accounted for.
For a prospective franchisee, this indicates the historical investment Craters & Freighters has made in furniture and fixtures for its corporate operations. It's important to note that this figure reflects the franchisor's costs and may not directly translate to the investment a new franchisee will need to make. Franchisees should conduct their own due diligence to determine the necessary investment for furniture and fixtures based on the size and scope of their specific location.
It is also important to consider that while the cost of Furniture and Fixtures remained constant from 2023 to 2024, the value of other assets like Office Equipment and Vehicles changed. This could be due to new purchases, depreciation, or disposal of assets. A potential franchisee should inquire about the typical lifespan and replacement cycle for furniture and fixtures to estimate future capital expenditure requirements.