What was the amount for the purchase of property and equipment with note payable for Itan in 2023?
Itan Franchise · 2025 FDDAnswer from 2025 FDD Document
| Income taxes paid | $ | 92,776 | $ | 144,200 |
|---|---|---|---|---|
| Non-cash financing transactions: | ||||
| Purchase of property and equipment with note payable | $ | 72,012 | $ | = |
Source: Item 23 — RECEIPT (FDD pages 44–190)
What This Means (2025 FDD)
According to Itan's 2025 Franchise Disclosure Document, in 2023, the purchase of property and equipment with a note payable amounted to $72,012. This indicates that Itan acquired property and equipment by financing the purchase through a note payable rather than paying the full amount in cash upfront.
For a prospective Itan franchisee, this information is relevant as it provides insight into how Itan manages its capital expenditures. Understanding the company's approach to financing asset acquisitions can help franchisees assess the financial strategies employed by Itan. It also demonstrates Itan's ability to leverage financing options to invest in necessary assets.
This non-cash transaction is important for franchisees to consider, as it reflects Itan's financial management practices and its ability to utilize different financing methods. It is also important to note that this figure only reflects the parent company's transactions and may not be directly applicable to individual franchise operations.