What was the total value of Dryject's long-term debt, net of the current portion, in 2021?
Dryject Franchise · 2025 FDDAnswer from 2025 FDD Document
ther matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that I identified during the audit.
Neptune, New Jersey
KOGER K. STEIN, CPA LLC
March 31, 2023
DRYJECT MANAGEMENT, LLC BALANCE SHEETS DECEMBER 31, 2022 AND 2021
| 2022 | _ | 2021 | ||
|---|---|---|---|---|
| ASSETS | ||||
| Current Assets: | ||||
| Cash | S | 168,705 | $ | 246,487 |
| Accounts receivable | 206,666 | 133,394 | ||
| Total Current Assets | - | 375,371 | 379,881 | |
| Intangible Assets: | ||||
| Goodwill | 1,509,159 | 1,509,159 | ||
| Organization costs | 9,618 1,518,777 | 9,618 1,518,777 | ||
| Less: Accumulated Amortization | 7 | (977,993) | (827,078) | |
| Net Intangible Assets | 540,784 | 691,699 | ||
| Total Assets | $ | 916,155 | s | 1,071,580 |
| LIABILITIES AND MEMBER'S CAPITAL | ||||
| Current Liabilities: | ||||
| Accounts payable | $ | 195,817 | $ | 173,723 |
| Accrued expenses | 20,910 | 12,394 | ||
| Current portion of long-term debt | 148,217 |
Source: Item 8 — BUSINESS RELATIONSHIP (FDD pages 68–229)
What This Means (2025 FDD)
According to Dryject's 2025 Franchise Disclosure Document, the total long-term debt, net of the current portion, was $689,866 in 2021. This figure represents the outstanding balance of Dryject's long-term liabilities after subtracting the portion of the debt due within one year.
For a prospective Dryject franchisee, this indicates the level of long-term financial obligations the company carries. A high amount of long-term debt could suggest a higher financial risk for the franchisor, which could indirectly impact franchisees. It is important to note that this debt is related to the purchase of the company in 2016, financed through a note from WSFS Bank and a seller-financed note.
Understanding the franchisor's debt structure is crucial for assessing their financial stability and ability to support the franchise network. Franchisees should consider this information in conjunction with other financial metrics and trends to evaluate the overall health and stability of the Dryject franchise system. Reviewing several years of FDDs can provide a better understanding of how Dryject manages its debt over time.