What was the cash amount for Fast Fix Jewelry And Watch Repairs in 2024?
Fast_Fix_Jewelry_And_Watch_Repairs Franchise · 2025 FDDAnswer from 2025 FDD Document
| | (1,251,279) | | (344,949) | | Net income | | | | | | | 357,356 | | 357,356 | | Balance, December 31, 2024 | 978,781 | $ | 100 | $ | 906,230 | $ | (893,923) | $ | 12,407 |
| 2024 | 2023 | |||
|---|---|---|---|---|
| Operating activities | ||||
| Net income | $ | 357,356 | $ | 279,052 |
| Adjustments to reconcile net income to | ||||
| net cash provided by operating activities: | ||||
| Depreciation and amortization | 693,840 | 695,347 | ||
| Amortization of debt issuance costs | 77,040 | 77,040 | ||
| Deferred income taxes | 22,787 | 63,958 | ||
| Provision for credit losses | 46,557 | |||
| Paid-in-Kind (PIK) interest | 43,543 | 44,984 | ||
| Changes in operating assets and liabilities: | ||||
| Accounts receivable | 52,988 | 5,495 | ||
| Franchise and advances receivable, net | 103,004 | - | ||
| Inventory | (28,005) | 325,631 | ||
| Prepaid expenses and other current assets | 33,280 | 30,120 | ||
| Deposits | 14,886 | 3,063 | ||
| Operating right-of-use assets and lease liabilities, net | 13,131 | 38,772 | ||
| Accounts payable | (127,596) | 86,698 | ||
| Accrued expenses and other liabilities | 16,810 | (221,455) | ||
| Income tax receivables and payables, net | 58,034 | (138,850) | ||
| Deferred revenue | (149,311) | (38,193) | ||
| Net cash provided by operating activities | 1 | 1,181,787 | 1,298,219 | |
| Investing activities | ||||
| Issuance of franchise notes and advances receiveable | (230,507) | (620,157) | ||
| Payments received on franchise notes and advances receivable | 225,351 | 71,111 | ||
| Purchases of property and equipment | (10,843) | (135,609) | ||
| Net cash used for investing activities | _ | (15,999) | (684,655) | |
| Financing activities | ||||
| Principal payments on long-term debt | (883,333) | (883,333) | ||
| Net cash used for financing activities | (883,333) | (883,333) | ||
| Net change in cash | 282,455 | la. | (269,769) | |
| Cash, beginning of year | 832,847 | 1,102,616 | ||
| Cash, end of year | $ | 1,115,302 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 37)
What This Means (2025 FDD)
According to Fast Fix Jewelry And Watch Repairs's 2025 Franchise Disclosure Document, the cash amount at the end of the year 2024 was $1,115,302. This can be found in the consolidated statements of cash flow. The cash at the beginning of 2024 was $832,847 and the net change in cash was $282,455.
This information is relevant for prospective franchisees as it provides insight into the company's cash flow and overall financial health. Reviewing the trend in cash flow from year to year can help potential franchisees assess the stability and growth potential of Fast Fix Jewelry And Watch Repairs. It's important to note that this cash balance reflects the overall company's financial status and not necessarily the performance of individual franchise locations.
Understanding the cash flow statement is crucial for franchisees to evaluate the franchisor's financial stability and how they manage their finances. A healthy cash balance can indicate the franchisor's ability to support its franchisees and invest in the brand's growth. Therefore, potential franchisees should analyze these figures in conjunction with other financial statements and information provided in the FDD to make an informed decision.