What was the total amount of goodwill for Floors To Go as of December 31, 2024?
Floors_To_Go Franchise · 2025 FDDAnswer from 2025 FDD Document
nditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.
Balance Sheets
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Source: Item 23 — RECEIPTS (FDD pages 47–204)
What This Means (2025 FDD)
According to the 2025 Floors To Go Franchise Disclosure Document, the company's goodwill as of December 31, 2024, was $50,000. This figure is also consistent with the goodwill reported as of December 31, 2023.
Goodwill, in accounting terms, typically arises when a company acquires another business for a price higher than the fair market value of its net assets. However, in this instance, the FDD does not specify the origin or nature of this goodwill. For a prospective franchisee, it's important to understand what this goodwill represents, as it can reflect on the brand's reputation and perceived value.
It would be prudent for a potential Floors To Go franchisee to inquire with the franchisor about the specifics of this $50,000 goodwill. Understanding how it was generated and what it signifies could provide valuable insight into the financial health and strategic decisions of Floors To Go.