What was the net value of equipment for Face Foundrie in 2023?
Face_Foundrie Franchise · 2025 FDDAnswer from 2025 FDD Document
Restrictions on Use
The use of this report is restricted to inclusion within the Company's Franchise Disclosure Document (FDD) and is not intended to be, and should not be, used or relied upon by anyone for any other use.
St. George, Utah April 16, 2025
BALANCE SHEETS
As of December 31, 2024, 2023 and 2022
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Assets |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 73)
What This Means (2025 FDD)
According to Face Foundrie's 2025 Franchise Disclosure Document, the net value of equipment in 2023 was $5,030. This figure represents the depreciated value of all equipment owned by Face Foundrie at the end of the 2023 fiscal year. It is an important figure for prospective franchisees to consider because it provides insight into the capital investment Face Foundrie has in its own operations.
Equipment, net, is a non-current asset, meaning it is not expected to be converted to cash or used up within one year. The value of equipment, net, is calculated by subtracting accumulated depreciation from the original cost of the equipment. Depreciation is the allocation of the cost of an asset over its useful life.
For a prospective franchisee, this indicates the level of investment Face Foundrie makes in physical assets to run its business. While the figure itself is relatively small, it's important to note that this is the franchisor's investment, not the investment required by a franchisee to open their own location. Franchisees should refer to other sections of the FDD, such as Item 7, to understand the estimated initial investment for their own Face Foundrie studio.