What was the value of Kitchen Solvers' goodwill 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 | |||
| Other assets: | ||||||
| Goodwill | 366,651 | 366,651 | 366,651 |
Source: Item 23 — Receipts (FDD pages 49–190)
What This Means (2025 FDD)
According to Kitchen Solvers' 2025 Franchise Disclosure Document, the company's balance sheet lists goodwill as an asset. Goodwill represents the intangible value of a business, such as its brand reputation and customer relationships. It is often acquired during the purchase of another company.
As of December 31, 2022, Kitchen Solvers' goodwill was valued at $366,651. This figure remained consistent in the 2023 and 2024 balance sheets, indicating no change in the goodwill value during those years.
For a prospective franchisee, this indicates that Kitchen Solvers has an established brand presence and reputation. The consistent goodwill value suggests stability in the brand's intangible assets. However, it's important to note that goodwill is subject to impairment, and its value can decrease if the brand's reputation or performance declines.