What was the net accounts receivable for Fast Fix Jewelry And Watch Repairs in 2022?
Fast_Fix_Jewelry_And_Watch_Repairs Franchise · 2025 FDDAnswer from 2025 FDD Document
e and timing of the audit, significant audit findings, and certain internal control—related matters that we identified during the audit.
Greenville, South Carolina
April 29, 2024
| | 2023 2022 | | |---------------------------------------------------------------
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 accounts receivable for 2022 was $481,149. This figure represents the amount of money owed to Fast Fix Jewelry And Watch Repairs by its customers or franchisees after deducting any allowances for doubtful accounts. Accounts receivable are current assets, meaning they are expected to be converted into cash within one year.
For a prospective franchisee, understanding the accounts receivable is crucial as it reflects the efficiency of Fast Fix Jewelry And Watch Repairs in collecting payments. A high accounts receivable balance might indicate difficulties in collecting payments, which could affect the company's cash flow. Conversely, a lower balance suggests efficient collection practices.
It is important to note that this figure is a snapshot of the company's financial position at the end of 2022. To gain a comprehensive understanding, a prospective franchisee should analyze the trend of accounts receivable over several years and compare it to industry benchmarks. Additionally, understanding the terms and conditions under which Fast Fix Jewelry And Watch Repairs extends credit to its customers or franchisees is essential to assess the risk associated with these receivables.