What was the value of Kitchen Solvers' territory held for sale in 2022?
Kitchen_Solvers Franchise · 2025 FDDAnswer from 2025 FDD Document
| 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 fo |
Source: Item 21 — Financial Statements (FDD pages 48–49)
What This Means (2025 FDD)
According to Kitchen Solvers' 2025 Franchise Disclosure Document, the value of the territory held for sale in 2022 was $12,798. This figure is listed under the 'Other assets' section of the balance sheet, providing a snapshot of the company's assets at the end of the year. The 'Territory held for sale' likely represents areas or markets that Kitchen Solvers intended to franchise or sell off.
For a prospective franchisee, this indicates that Kitchen Solvers owns territories that it may offer for sale. The consistent value of $12,798 for the territory held for sale across 2022, 2023, and 2024 suggests that Kitchen Solvers did not sell or acquire additional territories during this period. This could imply a stable approach to territory management or a lack of activity in expanding or reducing its territorial holdings.
It's important to note that the value listed for 'territory held for sale' is an accounting figure and may not reflect the actual market value of those territories. Factors such as market demand, local economic conditions, and the specific characteristics of each territory could influence their real value. A potential franchisee should inquire about the specifics of these territories, including their location, market potential, and any associated costs or obligations.