What was the total member's equity for Crisp & Green Franchising LLC in 2023?
Crisp_Green Franchise · 2024 FDDAnswer from 2024 FDD Document
ntial doubt about Crisp & Green Franchising LLC's ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.
CliftonLarsonAllen LLP
Milwaukee, Wisconsin April 29, 2024
CRISP & GREEN FRANCHISING LLC BALANCE SHEETS DECEMBER 31, 2023, 2022, AND 2021
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| ASSETS | |||
| CURRENT ASSETS | $ 100 | $ 2,537 | $ 287 |
| Cash | |||
| Accounts Receivable | 519,829 | 2,164,457 | 744,194 |
| Total Current Assets | 519,929 | 2,166,994 | 744,481 |
| OTHER ASSETS Deferred Franchise Costs Due |
Source: Item 23 — RECEIPTS (FDD pages 66–252)
What This Means (2024 FDD)
According to Crisp & Green's 2024 Franchise Disclosure Document, the company's total member's equity at the end of 2023 was $2,871,756. This figure represents the ownership stake in the company held by its members, essentially the net worth of the company from the members' perspective. It is calculated by subtracting total liabilities from total assets.
For a prospective Crisp & Green franchisee, this number provides insight into the financial stability and health of the franchisor. A higher member's equity generally indicates a stronger financial position, suggesting that the company has sufficient assets to cover its liabilities. This can be reassuring for franchisees who are investing in the brand and relying on the franchisor's support and guidance.
It's also useful to compare this figure with previous years to identify trends. In this case, Crisp & Green's member's equity was $2,937,929 in 2022 and $2,027,811 in 2021. While there was a slight decrease from 2022 to 2023, the overall trend shows growth in member's equity over the three-year period. This information, combined with other financial metrics, can help potential franchisees assess the financial risk and potential reward of investing in a Crisp & Green franchise.
It is important to note that member's equity is just one aspect of a company's financial health. Prospective franchisees should also consider other factors such as revenue, expenses, and cash flow when evaluating the financial stability of Crisp & Green.