What is the difference between the property and equipment assets of iTan in 2023 and 2024?
Itan Franchise · 2025 FDDAnswer from 2025 FDD Document
s using presently enacted tax rates.
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Source: Item 23 — RECEIPT (FDD pages 44–190)
What This Means (2025 FDD)
According to Itan's 2025 Franchise Disclosure Document, the company's property and equipment assets experienced a decrease between 2023 and 2024. In 2024, the property and equipment assets totaled $70,353, while in 2023, they amounted to $88,280. This represents a decrease of $17,927 in property and equipment assets from 2023 to 2024.
The FDD provides a breakdown of these assets, including computers and equipment, furniture, and vehicles. For both 2024 and 2023, the values for computers and equipment and furniture remained constant at $25,753 and $18,716, respectively. Similarly, the value for vehicles was consistent at $82,012 for both years. The difference in the total property and equipment value is due to accumulated depreciation, which was ($56,128) in 2024 and ($38,201) in 2023. This increase in accumulated depreciation of $17,927 from 2023 to 2024 resulted in the overall decrease in property and equipment assets.
For a prospective Itan franchisee, this information indicates that the company's investment in property and equipment, such as computers, furniture, and vehicles, remained stable between 2023 and 2024. However, the increase in accumulated depreciation suggests that these assets are aging, which could imply future capital expenditures to replace or upgrade them. Franchisees should consider these potential costs when evaluating the financial health and future investment needs of their Itan franchise.