What was the total cost of depreciable assets for Goldfish Swim School in 2022?
Goldfish_Swim_School Franchise · 2025 FDDAnswer from 2025 FDD Document
| Depreciable | |||||
|---|---|---|---|---|---|
| 2023 | 2022 | 2021 | Life - Years | ||
| Furniture and equipment | $685,132 | $770,502 | $762,105 | 5-10 | |
| Software | 448,684 | 458,881 | 458,881 | 3 | |
| Building improvements | 443,206 | 435,681 | 435,681 | 15 | |
| Total cost | 1,577,022 | 1,665,064 | 1,656,667 | ||
| Accumulated depreciation | 1,180,055 | 1,152,024 | 932,431 | ||
| Net property and equipment | $396,967 | $513,040 | $724,236 | ||
| Long-term | |||||
| --- | --- | ||||
| obligations under | |||||
| capital leases | $1,580,792 |
Source: Item 23 — RECEIPTS (FDD pages 77–389)
What This Means (2025 FDD)
According to the 2025 FDD, Goldfish Swim School's total cost of depreciable assets in 2022 was $1,665,064. These assets include furniture and equipment, software, and building improvements. Understanding the cost and depreciation of these assets is crucial for franchisees as it impacts their financial planning, tax obligations, and overall profitability.
The FDD provides a breakdown of these costs for 2021, 2022, and 2023, allowing prospective franchisees to see trends and understand how these costs have changed over time. For example, the cost of furniture and equipment was $770,502 in 2022, while software cost $458,881 and building improvements totaled $435,681.
Reviewing the accumulated depreciation alongside the total cost helps in assessing the net property and equipment value, which was $513,040 in 2022. This information is essential for franchisees to manage their assets effectively and make informed decisions about investments and replacements.