What was the cash amount for Fast Fix Jewelry And Watch Repairs in the 2024 budget?
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 net change in cash for 2024 was $282,455, the cash at the beginning of the year was $832,847, and the cash at the end of the year was $1,115,302. This indicates the overall change in the company's cash position during that year.
These figures are derived from the consolidated statements of cash flows, which provide a comprehensive overview of all cash inflows and outflows. The net change in cash is the result of operating, investing, and financing activities. Operating activities reflect the cash generated from the company's core business operations. Investing activities include the purchase and sale of long-term assets, such as property and equipment. Financing activities involve transactions related to debt and equity.
For a prospective Fast Fix Jewelry And Watch Repairs franchisee, understanding these cash flow dynamics is crucial. It provides insight into the financial health and stability of the franchisor. Reviewing these figures over several years can reveal trends and patterns that may impact the franchisee's own business. It is also important to note the supplemental cash flow information, such as cash paid for interest ($893,327) and income taxes ($250,783), as these can affect the overall profitability and cash management strategies of the company.