What were the shareholders' equity for Fast Fix Jewelry And Watch Repairs in 2024?
Fast_Fix_Jewelry_And_Watch_Repairs Franchise · 2025 FDDAnswer from 2025 FDD Document
2,273 | | | | Income before income tax expense | | 688,143 | | 561,715 | | | | Income tax expense | | 330,787 | | 282,663 | | | | Net income | $ | 357,356 | $ | 279,052 | | |
| Commo | n Stock | Α | dditional | A | ccumulated | Sto | ckholders' | ||
|---|---|---|---|---|---|---|---|---|---|
| Shares | Ar | nount | Paid | d-In Capital | _ | Deficit | Equity | ||
| Balance, January 1, 2023 | 978,781 | $ | 100 | $ | 906,230 | $ | (1,530,331) | $ | (624,001) |
| Net income | 279,052 | 279,052 | |||||||
| Balance, December 31, 2023 | 978,781 | 100 | 906,230 |
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 shareholders' equity as of December 31, 2024, was $12,407. This figure represents the net worth of Fast Fix Jewelry And Watch Repairs from the perspective of its shareholders, calculated by subtracting total liabilities from total assets. It reflects the cumulative financial performance and retained earnings of the company up to that point in time.
It's important to note that this value can fluctuate due to various factors, including net income, losses, and other equity transactions. For Fast Fix Jewelry And Watch Repairs, the accumulated deficit significantly impacts the overall shareholders' equity. The accumulated deficit as of December 31, 2024, was ($893,923), which reduces the total equity. This deficit indicates that the company has incurred cumulative losses over its operational history that exceed its cumulative profits.
Prospective franchisees should consider this shareholders' equity figure as one indicator of the financial health and stability of Fast Fix Jewelry And Watch Repairs. While a positive shareholders' equity is generally preferred, understanding the trend and the factors contributing to it, such as net income and accumulated deficit, provides a more comprehensive view. Reviewing the complete financial statements and consulting with a financial advisor is recommended to fully assess the financial implications for potential franchisees.