What was the cash balance at the end of 2024 for Fast Fix Jewelry And Watch Repairs?
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) |
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 balance at the end of 2024 was $1,115,302. This figure represents the total amount of cash and cash equivalents the company had on hand as of December 31, 2024. Cash equivalents are defined as highly liquid investments with a maturity of three months or less.
For a prospective franchisee, this cash balance is an indicator of Fast Fix Jewelry And Watch Repairs's financial health and liquidity. A higher cash balance suggests that the company has sufficient funds to cover its short-term obligations and invest in future growth opportunities. It's important to note that this is a consolidated figure, reflecting the financial position of Jewelry Repair Enterprises, Inc. and its subsidiaries.
When evaluating this information, a potential Fast Fix Jewelry And Watch Repairs franchisee should consider the company's overall financial performance, including its revenues, expenses, and profitability. Additionally, it's advisable to compare the cash balance to previous years and industry benchmarks to assess the company's financial stability and growth potential. Reviewing the complete financial statements and notes is crucial for a comprehensive understanding.