What was the current expense for Fast Fix Jewelry And Watch Repairs in 2023?
Fast_Fix_Jewelry_And_Watch_Repairs Franchise · 2025 FDDAnswer from 2025 FDD Document
amortization is estimated to be approximately $58,000 in 2025.
Note 7. Income Taxes
The components of the income tax expense are as follows for the years ended December 31:
| | 2024 | _ |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 37)
What This Means (2025 FDD)
According to Fast Fix Jewelry And Watch Repairs' 2025 Franchise Disclosure Document, the current expense for the company in 2023 was $218,704. This figure is part of a table comparing expenses in 2023 and 2024. The table also lists a deferred expense of $63,959 for 2023. The total of current and deferred expenses for 2023 was $282,663.
Prospective franchisees should understand the difference between 'current' and 'deferred' expenses to accurately assess the company's financial health. Current expenses are those recognized in the current accounting period, while deferred expenses are those that have been paid but not yet consumed or used. Understanding these figures helps in projecting future profitability and managing cash flow.
It's important to note that these expenses are reflected in the consolidated financial statements of Jewelry Repair Enterprises, Inc. As such, these figures may not directly represent the expenses a franchisee will incur in their individual Fast Fix Jewelry And Watch Repairs franchise location. Franchisees should consult with a financial advisor to understand how these figures relate to their specific business circumstances and to develop realistic financial projections.