What were the other liabilities for Fast Fix Jewelry And Watch Repairs in 2024?
Fast_Fix_Jewelry_And_Watch_Repairs Franchise · 2025 FDDAnswer from 2025 FDD Document
determining the present value of lease payments.
Future minimum lease payments under the operating leases as of December 31, 2023 are as follows for the years ending December 31:
| 2024 | $ | 3,259,971 |
|---|---|---|
| 2025 | 1,686,606 | |
| 2026 | 731,075 | |
| 2027 | 115,467 | |
| 2028 | 40,231 | |
| Thereafter | 147,827 | |
| Total undiscounted lease payments | 5,981,177 | |
| Less: imputed interest | _ | (808,167) |
| Total present value of |
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 company had operating lease liabilities, net of current portion, of $2,386,178 in 2024. This represents the present value of future lease payments, excluding imputed interest and the current portion due within the next year.
Additionally, the undiscounted lease payments for 2024 amounted to $3,259,971. This figure represents the total amount of lease payments due in 2024 before considering the time value of money or any interest component.
For a prospective franchisee, understanding these lease liabilities is crucial as it reflects the financial obligations Fast Fix Jewelry And Watch Repairs has undertaken for its retail spaces. These figures provide insight into the company's financial commitments and can help franchisees assess the financial stability and operational costs associated with the franchise.