What was the total value of Kitchen Solvers' other assets as of December 31, 2024?
Kitchen_Solvers Franchise · 2025 FDDAnswer from 2025 FDD Document
| Balance Sheets | ||||||
|---|---|---|---|---|---|---|
| December 31, 2024, 2023, and 2022 | ||||||
| Assets | 2024 | 2023 | 2022 | |||
| 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 |
Source: Item 23 — Receipts (FDD pages 49–190)
What This Means (2025 FDD)
According to Kitchen Solvers' 2025 Franchise Disclosure Document, the company's total other assets as of December 31, 2024, amounted to $1,180,463. This figure is derived from the company's balance sheets, which provide a detailed breakdown of assets, liabilities, and equity.
The 'other assets' category includes several components. Specifically, it comprises territory held for sale valued at $12,798, contract assets worth $787,811, right of use asset related to operating leases at $13,203, and goodwill amounting to $366,651. These assets collectively contribute to the overall financial health and stability of Kitchen Solvers.
For a prospective franchisee, understanding the composition and value of these 'other assets' is crucial. It provides insights into the company's long-term investments, contractual obligations, and intangible assets like goodwill, which can influence the brand's market position and future growth potential. Reviewing these figures in comparison to previous years, as presented in the balance sheets, can further reveal trends and inform investment decisions.