What were the total current 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 |
| In |
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 current assets in 2022 were $2,498,639. This figure represents the sum of various liquid assets that Fast Fix Jewelry And Watch Repairs had readily available. These assets include cash and cash equivalents, accounts receivable, franchise notes receivable, advances receivable, inventory, income taxes receivable, and prepaid expenses.
For a prospective franchisee, understanding the composition and value of current assets is crucial. It provides insight into the company's short-term financial health and its ability to meet its immediate obligations. A higher value of current assets relative to current liabilities generally indicates a stronger liquidity position. This can be a positive sign for franchisees, suggesting that Fast Fix Jewelry And Watch Repairs is financially stable and capable of supporting its franchisees.
However, it's important to consider the nature of these assets. For example, a large portion of accounts receivable might indicate potential issues with collecting payments, while a high inventory level could suggest slow sales or obsolete stock. Therefore, a prospective franchisee should investigate the components of current assets to gain a more comprehensive understanding of the company's financial condition. Examining the trend of current assets over multiple years, such as comparing 2022 to 2023, can also provide valuable insights into the company's financial performance and stability.