What was the cash and cash equivalent at the end of the year for Deck Medic in 2023?
Deck_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
ction accounts which are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000. On December 31, 2023 and 2022, the Company's cash balance didn't exceed the FDIC insurance limits.
The Company considers all cash in the bank and investments in highly liquid debt instruments
Source: Item 23 — RECEIPTS (FDD pages 43–228)
What This Means (2024 FDD)
According to Deck Medic's 2024 Franchise Disclosure Document, the company's cash and cash equivalents at the end of 2023 totaled approximately $125,880. This figure represents the amount of cash Deck Medic had in its operating bank account at the close of the year.
For a prospective franchisee, understanding the franchisor's cash position can be an indicator of financial stability. A healthy cash balance suggests that Deck Medic has sufficient liquidity to meet its short-term obligations and potentially invest in growth initiatives.
It's also worth noting that Deck Medic maintains its cash balance in U.S. noninterest-bearing transaction accounts, which are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000. The FDD states that the company's cash balance did not exceed the FDIC insurance limits in either 2023 or 2022, meaning all cash was fully insured.