What was the cash balance at the end of 2024 for Floors To Go?
Floors_To_Go Franchise · 2025 FDDAnswer from 2025 FDD Document
redit losses | | 52,720 | | 35,724 | | Travel, meals and entertainment | | 33,996 | | 49,481 | | General office | | 623 | | 6,328 | | Total operating expenses | | 1,637,084 | | 1,617,390 | | Net income | | 1,517,901 | | 1,709,639 | | Member's equity, beginning of year | | 549,866 | | 1,259,440 | | Member distributions | | (1,367,895) | | (2,419,213) | | Member's equity, end of year | $ 699,872 $ 549,866 | | | |
Statements of Cash Flows
| Year Ended December 31 | ||||
|---|---|---|---|---|
| 2024 | 2023 | |||
| Cash flows from operating activities | ||||
| Net income | $ | 1,517,901 | $ | 1,709,639 |
| Adjustments to reconcile net income to net cash | ||||
| from operating activities | ||||
| Credit losses | 52,720 | 35,724 | ||
| Changes in operating assets and liabilities | ||||
| which (used) provided cash | ||||
| Accounts receivable | (62,626) | (113,736) | ||
| Prepaid expenses | 714 | - | ||
| Accounts payable | (8,963) | (5,267) | ||
| Deferred reve |
Source: Item 23 — RECEIPTS (FDD pages 47–204)
What This Means (2025 FDD)
According to Floors To Go's 2025 Franchise Disclosure Document, the cash balance at the end of 2024 was $973,148. The FDD also provides the cash balance at the end of 2023, which was $812,308. This shows an increase in cash from 2023 to 2024.
This information is taken from the Statements of Cash Flows, which provides a summary of the cash inflows and outflows for Floors To Go during the years 2024 and 2023. The statement details cash flows from operating activities, including net income, adjustments to reconcile net income, and changes in operating assets and liabilities. It also shows cash flows from financing activities, such as member distributions.
For a prospective franchisee, this indicates the financial health and liquidity of Floors To Go. A higher cash balance generally suggests a stronger financial position, which can be reassuring for franchisees who are investing in the brand. It is important to consider these figures in the context of the overall financial statements and other disclosures in the FDD to get a comprehensive understanding of the franchisor's financial stability.
It is also worth noting that the FDD includes audited financial statements, which means that an independent auditor has reviewed the financial statements and provided an opinion on their fairness and accuracy. This adds a level of credibility to the financial information presented.