What was the net property and equipment value for Kitchen Solvers 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 assets: | ||||||
| Cash | $ 409,936 | $ 192,541 | $ 60,708 | |||
| Accounts receivable | 63,672 | 138,673 | 140,562 | |||
| Accounts receivable - related party | 174,152 | - | - | |||
| Contract assets - Current | 138,404 | 118,404 | 98,129 | |||
| Advances receivable | - | - | 74,472 | |||
| Other receivable | - | - | 3,260 | |||
| Inventory | 28,642 | 14,106 | - | |||
| Prepaid expenses | 2,277 | 2,293 | - | |||
| Total current assets | 817,083 | 466,017 | 377,131 | |||
| Property and equipment: | ||||||
| Equipment and fixtures | 34,201 | 34,201 | 34,201 | |||
| Technology equipment and software | 109,640 | 109,640 | 109,640 | |||
| Machinery and equipment | 86,429 | 73,253 | - | |||
| Vehicles | 6,500 | - | - | |||
| Leasehold improvements | 33,841 | - | - | |||
| Totals | 270,611 | 217,094 | 143,841 | |||
| Less - Accumulated depreciation | ( 156,768) | ( 145,888) | ( 139,333) | |||
| Net property and equipment | 113,843 | 71,206 | 4,508 | |||
| Other assets: | ||||||
| Territory held for sale | 12,798 | 12,798 | 12,798 | |||
| Contract assets | 787,811 | 746,214 | 659,193 | |||
| Right of use asset - Operating leases | 13,203 | 53,324 | 63,586 | |||
| Goodwill | 366,651 | 366,651 | 366,651 | |||
| Total other assets | 1,180,463 | 1,178,987 | 1,102,228 | |||
| TOTAL ASSETS | Liabilities and Members' Equity | $ 2,111,389 | $ 1,716,210 | $ 1,483,867 |
Source: Item 23 — Receipts (FDD pages 49–190)
What This Means (2025 FDD)
According to Kitchen Solvers' 2025 Franchise Disclosure Document, the net property and equipment value as of December 31, 2022, was $4,508. This figure represents the value of Kitchen Solvers' equipment and fixtures ($34,201), technology equipment and software ($109,640), and machinery and equipment ($86,429), less accumulated depreciation ($139,333).
For a prospective franchisee, understanding the net property and equipment value can provide insight into the tangible assets Kitchen Solvers possesses. This can be an indicator of the company's investment in its infrastructure and technology. However, it is essential to consider this figure in conjunction with other financial metrics to gain a comprehensive understanding of the company's financial health.
It's also worth noting the changes in net property and equipment over the years presented in the balance sheets. The net property and equipment was $71,206 in 2023 and $113,843 in 2024. Reviewing these trends can help potential franchisees understand Kitchen Solvers' investment strategy and how it may impact the support and resources available to franchisees.