What was the amount of accounts payable for Fast Fix Jewelry And Watch Repairs in 2023?
Fast_Fix_Jewelry_And_Watch_Repairs Franchise · 2025 FDDAnswer from 2025 FDD Document
e to state income taxes, net operating loss carrybacks, and goodwill amortization that is deemed non-deductible for tax reporting purposes.
Note 9. Related-Party Transactions
The Company has a management services agreement with the majority member of the Company. The member serves as an advisor and provides management services to the Company. Management fees were approximately $252,000 and $177,000 for the years ended December 31, 2023 and 2022, respectively. There
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 37)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, the specific amount of accounts payable for Fast Fix Jewelry And Watch Repairs in 2023 is not explicitly detailed in the provided excerpts. While the document includes consolidated balance sheets and financial statements, it does not break down the accounts payable as a distinct line item.
However, the FDD does mention accrued expenses, which may include accounts payable. Specifically, it notes that there were approximately $449,000 of unpaid management fees included in accrued expenses on the consolidated balance sheets as of December 31, 2023. This indicates that Fast Fix Jewelry And Watch Repairs had outstanding financial obligations to its management.
For a prospective franchisee, understanding the specific accounts payable is crucial for assessing the company's short-term financial health and obligations. Since this information is not clearly presented in the provided excerpts, it is recommended that a potential franchisee directly inquire with the franchisor about the detailed breakdown of accounts payable for a comprehensive understanding of the company's liabilities. This will allow for a more informed decision regarding the investment in a Fast Fix Jewelry And Watch Repairs franchise.