What were the total assets for Fast Fix Jewelry And Watch Repairs in 2024?
Fast_Fix_Jewelry_And_Watch_Repairs Franchise · 2025 FDDAnswer from 2025 FDD Document
timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.
Greenville, South Carolina April 29, 2025
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| 2024 | _ | 2023 | ||
|---|---|---|---|---|
| Assets | ||||
| Current assets | ||||
| Cash | $ | 1,115,302 | $ | 832,847 |
| Accounts receivable, net | 422,666 | 475,654 | ||
| Franchise notes receivable - current portion | 9,722 | 8,583 | ||
| Advances receivable, net - current portion | 226,976 | 170,596 | ||
| Inventory | 340,166 | 312,161 | ||
| Income taxes receivable | - | 17,235 | ||
| Prepaid expenses and other current assets | 22,050 | 55,330 | ||
| Total current assets | _ | 2,136,882 | _ | 1,872,406 |
| Property and equipment, net | 185,139 | 250,856 | ||
| Other assets | ||||
| Franchise notes receivable, net of current portion | 6,806 | 35,399 | ||
| Advances receivable, net, net of current portion | 470,277 | 597,051 | ||
| Deferred income taxes, net | 267,822 | 290,609 | ||
| Goodwill, |
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 company's total assets in 2024 amounted to $3,259,971. This figure is derived from the consolidated balance sheets audited by Elliott Davis, as part of the financial statements.
Specifically, the assets are broken down into current assets, property and equipment, and other assets. Current assets include cash ($1,115,302), accounts receivable ($422,666), franchise notes receivable ($9,722), advances receivable ($226,976), inventory ($340,166), and prepaid expenses ($22,050). Non-current assets include property and equipment ($185,139), franchise notes receivable ($6,806), and advances receivable ($470,277).
Understanding the asset composition is crucial for prospective franchisees as it provides insights into the financial health and liquidity of Fast Fix Jewelry And Watch Repairs. A significant portion of current assets in cash and accounts receivable suggests good short-term liquidity. The presence of franchise notes and advances receivable indicates financial activities related to franchisees, which could be a source of revenue or potential risk depending on their performance. Franchisees should review these figures in the context of liabilities and equity to assess the overall financial stability of the company.