What was the debt amount for Fast Fix Jewelry And Watch Repairs in 2023?
Fast_Fix_Jewelry_And_Watch_Repairs Franchise · 2025 FDDAnswer from 2025 FDD Document
oximately $78,000 and $62,800 for the years ended December 31, 2023 and 2022, respectively.
Note 6. Long-Term Debt
Long-term debt consists of the following as of December 31:
| _ | 2023 | _ | 2022 | |
|---|---|---|---|---|
| Senior term loan | $ | 4,323,5 |
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 senior term loan amount for 2023 was $4,323,500, with an unamortized debt issuance cost of $134,820 and a current portion of $840,411. After subtracting the unamortized debt issuance cost and the current portion, the long-term debt is $3,348,269.
This indicates the level of debt Fast Fix Jewelry And Watch Repairs carries and its repayment schedule. Prospective franchisees should consider the franchisor's debt level as it can impact the franchisor's ability to support its franchisees.
Understanding the franchisor's debt obligations can help a franchisee assess the financial stability of Fast Fix Jewelry And Watch Repairs. It is important to review these figures in the context of the company's overall financial performance and to compare them to industry benchmarks to evaluate whether the debt level is reasonable.