What was the total amount of Jersey Mikes' current assets in 2023?
Jersey_Mikes Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents (include restricted cash of $103,528,217 and | ||
| $74,178,062 in 2024 and 2023, respectively) | $ 843,405,358 | $ 139,028,486 |
| Accounts receivable—net | 48,298,149 | 41,744,552 |
| Notes receivable | 718,907 | 588,418 |
| Notes receivable—related party | 433,633 | 434,024 |
| Prepaid expenses and other current assets | 8,938,746 | 14,392,571 |
| Total current assets | 901,794,793 | 196,188,051 |
Source: Item 22 — CONTRACTS (FDD page 77)
What This Means (2025 FDD)
According to Jersey Mike's 2025 Franchise Disclosure Document, the company's total current assets in 2023 were $196,188,051. This figure represents the sum of Jersey Mike's cash and cash equivalents, accounts receivable (net), notes receivable, notes receivable from related parties, and prepaid expenses and other current assets.
Understanding the composition of current assets is crucial for prospective franchisees. Cash and cash equivalents represent the most liquid assets, while accounts receivable reflect money owed to Jersey Mike's. Prepaid expenses are payments made in advance for goods or services. A substantial portion of Jersey Mike's current assets in 2023 was held in cash and cash equivalents, indicating strong liquidity.
It is important to note that the FDD also provides the amounts for each individual component of current assets. For example, cash and cash equivalents were $139,028,486, accounts receivable (net) were $41,744,552, notes receivable were $588,418, notes receivable from related parties were $434,024, and prepaid expenses and other current assets were $14,392,571. Reviewing these individual figures can give a potential franchisee a more detailed understanding of the company's financial health.
Prospective franchisees should analyze these figures in the context of Jersey Mike's overall financial performance and industry benchmarks to assess the financial stability and growth potential of the franchise system. Comparing these figures to previous years and to other similar franchises can provide valuable insights.