What were the total current assets for Fast Fix Jewelry And Watch Repairs in 2023?
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 2023 were $1,872,400. This figure represents the sum of several liquid asset categories, including cash and cash equivalents ($832,847), accounts receivable ($475,654), current portion of franchise notes receivable ($8,583), current portion of advances receivable ($170,595), inventory ($312,166), income taxes receivable ($17,230), and prepaid expenses and other current assets ($55,335).
For a prospective Fast Fix Jewelry And Watch Repairs franchisee, understanding the composition and value of current assets is crucial for assessing the company's short-term financial health and liquidity. A higher value of current assets relative to current liabilities generally indicates a stronger ability to meet short-term obligations. Reviewing these figures in comparison to previous years and industry benchmarks can provide insights into the company's financial management and operational efficiency.
It's important to note that these figures are based on the consolidated financial statements of Jewelry Repair Enterprises, Inc., which includes its subsidiaries. Franchisees should consider these figures as part of a broader due diligence process, which includes reviewing the complete financial statements and seeking professional financial advice. Understanding the trends and factors influencing these asset values can help franchisees make informed decisions about their investment.