What were the total assets for Floors To Go as of December 31, 2023?
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 Floors To Go's 2025 Franchise Disclosure Document, the company's total assets as of December 31, 2023, were $1,326,960. This figure represents the sum of the company's current assets and goodwill. Current assets include cash, accounts receivable (less allowance for credit losses), and prepaid expenses. Goodwill is an intangible asset reflecting the value of the company's reputation and brand.
Breaking down the asset composition, Floors To Go had current assets totaling $1,276,960, which comprised $812,308 in cash, $461,463 in accounts receivable (net of allowance for credit losses), and $3,189 in prepaid expenses. Additionally, the company held $50,000 in goodwill, bringing the total assets to the reported $1,326,960.
Understanding the asset structure of Floors To Go is crucial for potential franchisees as it provides insights into the company's financial health and stability. A significant portion of assets held in cash and accounts receivable suggests good liquidity and efficient revenue collection. The presence of goodwill indicates brand strength, which can be a positive factor for franchisees leveraging the Floors To Go name. Reviewing these figures in comparison to previous years and industry benchmarks can further inform a franchisee's investment decision.