What was the amount of Kitchen Solvers' note payable - Shareholder as of December 31, 2022?
Kitchen_Solvers Franchise · 2025 FDDAnswer from 2025 FDD Document
| Balance Sheets | ||||||
|---|---|---|---|---|---|---|
| December 31, 2024, 2023, and 2022 | ||||||
| Assets | 2024 | 2023 | 2022 | |||
| Current liabilities: | ||||||
| Accounts payable | $ 53,515 | $ 21,944 | $ 60,760 | |||
| Accrued and other liabilities | 25,258 | 7,452 | 7,452 | |||
| Note payable - Shareholder | 4,378 | 1,923 | 18,049 |
Source: Item 23 — Receipts (FDD pages 49–190)
What This Means (2025 FDD)
According to Kitchen Solvers' 2025 Franchise Disclosure Document, the note payable to the shareholder as of December 31, 2022, was $18,049. This liability represents money owed by Kitchen Solvers to its shareholder(s), which could be for various reasons such as loans or advances made to the company. This is a current liability, meaning it is due within one year.
For a prospective franchisee, this figure provides insight into the financial obligations of Kitchen Solvers. A higher amount of notes payable to shareholders might indicate a greater reliance on shareholder funding, which could be a risk if the shareholder decides to call in the debt. Conversely, a lower amount may suggest better financial stability or access to other funding sources.
It's important to note that this is just one aspect of Kitchen Solvers' financial health. A prospective franchisee should review the entire balance sheet and other financial statements in the FDD, and possibly consult with a financial advisor, to get a comprehensive understanding of the company's financial position and its implications for the franchise opportunity.