What was the reported value of Healthsource Chiropractic's office furniture and equipment in 2022?
Healthsource_Chiropractic Franchise · 2025 FDDAnswer from 2025 FDD Document
- 10.1 Condition and Appearance of the Franchise. You agree that:
- a. neither the Franchise nor the Premises will be used for any purpose other than the operation of the Franchise in compliance with this Agreement;
- b. you will maintain the condition and appearance of the Franchise; its equipment, furniture, furnishings, and signs; and the Premises in accordance with our standards and consistent with the image of a HealthSource Chiropractic Clinic franchise as an efficiently operated business offering high quality services, and observing the highest standards of cleanliness, sanitation, efficient, courteous service and pleasant ambiance, and in that connection will take, without limitation, the following actions during the Term of this Agreement: (1) thorough cleaning, repainting and redecorating of the interior and exterior of the Premises at reasonable intervals; (2) interior and exterior repair of the Premises; and (3) repair or replacement of damaged, worn out or obsolete equipment, furniture, furnishings and signs;
Source: Item 23 — Receipts (FDD pages 77–282)
What This Means (2025 FDD)
Based on the 2025 Healthsource Chiropractic Franchise Disclosure Document, there is no specific disclosure regarding the value of office furniture and equipment for 2022. While the document includes financial statements audited by an independent auditor, these statements do not break down the value of assets to that level of detail. The financial statements cover the years 2022, 2023, and 2024, but they are presented in a consolidated format.
Note 10.1 discusses the franchisee's responsibility to maintain the condition and appearance of the franchise, including its equipment, furniture, furnishings, and signs. It states that franchisees must repair or replace damaged, worn out, or obsolete items. However, this section focuses on the franchisee's obligations rather than the franchisor's asset valuation.
To get an understanding of typical investment in furniture, fixtures, and equipment, a prospective Healthsource Chiropractic franchisee should ask the franchisor directly for more detailed financial information. Specifically, they should inquire about the typical initial investment franchisees make in these categories and how these assets are valued on an ongoing basis. This information is crucial for assessing the financial viability of the franchise.