What were the total assets 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 | ||
|---|---|---|
| Assets | 1 | |
| Current assets | ||
| Cash and cash equivalents | $ 832,84 | 7 $ 1,102,616 |
| Accounts receivable, net | 475,65 | 481,149 |
| Franchise notes receivable - current portion | 8,58 | 33 22,443 |
| Advances receivable, net - current portion | 170,59 | 169,189 |
| Inventory | 312,16 | 637,792 |
| Income taxes receivable | 17,23 | - |
| Prepaid expenses and other current assets | 55,33 | 85,450 |
| Total current assets | 1,872,40 | 2,498,639 |
| Property and equipment, net | 250,85 | 56 193,314 |
| Other assets | ||
| Franchise notes receivable - long term portion | 35,39 | 99 2,778 |
| Advances receivable, net - long term portion | 597,05 | 51 114,730 |
| Deferred income taxes, net | 290,60 | 9 354,567 |
| Goodwill, net | 2,597,71 | 3,214,993 |
| Trade name | 35,00 | 35,000 |
| Deposits | 41,07 | 70 44,133 |
| Operating lease right-of-use assets | 5,046,15 | 8,948,366 |
| Total other assets | 8,642,99 | 99 12,714,567 |
| Total assets | $ 10,766,26 | $ 15,406,520 |
| Liabilities and Stockholders' Deficit | ||
| Current liabilities | ||
| Accounts payable | $ 252,98 | 32 $ 166,284 |
| Accrued expenses | 656,72 | 881,514 |
| Accrued interest | 72,36 | 77,215 |
| Deferred revenue - current portion | 188,02 | 194,992 |
| Income taxes payable | - 121,615 | |
| Long-term debt - current portion | 840,41 | 1 834,876 |
| Current portion of oper |
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's total assets in 2022 were $15,406,520. This figure represents the sum of all the company's possessions and rights that have a monetary value. These assets are categorized into current assets, property and equipment, and other assets.
For a prospective franchisee, understanding the asset base of Fast Fix Jewelry And Watch Repairs is crucial for assessing the financial health and stability of the franchisor. A strong asset base can indicate the company's ability to support its franchisees and invest in future growth. It is important to note that these are consolidated figures, reflecting the assets of Jewelry Repair Enterprises, Inc. and its subsidiaries.
Reviewing the different types of assets, such as cash, accounts receivable, inventory, and property and equipment, provides a more detailed picture of where Fast Fix Jewelry And Watch Repairs' value lies. Additionally, the inclusion of intangible assets like goodwill and trade names highlights the brand's established presence and reputation. Franchisees should consider these factors when evaluating the overall financial strength of the franchise system.