What was the total value of furniture and equipment held by Chili, Inc. related to Gold Star?
Gold_Star Franchise · 2025 FDDAnswer from 2025 FDD Document
On August 1, 2023, Gold Star Chili, Inc. and GSC Properties, LLC entered into an agreement to acquire property in Hillsboro, Ohio, as well as certain assets of M.F. Daoud, Inc. The acquisition was made for the purpose of acquiring the existing location, as well as additional skills, intellectual property, and furniture, fixtures, and equipment.
In accordance with U.S. GAAP, the purchase price of the acquired assets has been allocated based on the fair value of all identifiable assets at the date of acquisition.
Source: Item 23 — Receipts (FDD pages 53–163)
What This Means (2025 FDD)
I am unable to provide the exact value of furniture and equipment held by Chili, Inc. related to Gold Star, as the provided excerpts from the 2025 Franchise Disclosure Document do not contain this specific figure.
However, the FDD does mention an acquisition of assets from M.F. Daoud, Inc. by Gold Star Chili, Inc. and GSC Properties, LLC on August 1, 2023, which included furniture, fixtures, and equipment. The purchase price of these acquired assets was allocated based on the fair value of all identifiable assets at the date of acquisition, in accordance with U.S. GAAP.
To obtain the specific value of furniture and equipment, it is recommended that a prospective franchisee ask Gold Star for clarification on the value of these assets as recorded on the company's balance sheets. This information would be helpful in understanding the company's asset base and financial position.