What was the value of Kitchen Solvers' vehicles 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 | |||
| 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 |
Source: Item 23 — Receipts (FDD pages 49–190)
What This Means (2025 FDD)
According to Kitchen Solvers' 2025 Franchise Disclosure Document, the value of their vehicles as of December 31, 2024, was $6,500. This figure is part of the 'Property and equipment' section under the assets listed on the balance sheets. This indicates the book value of vehicles owned directly by the company, not those owned by individual franchisees.
For a prospective franchisee, this information provides insight into the assets held by Kitchen Solvers. While franchisees will likely need their own vehicles for providing services, this figure reflects the company's investment in its own vehicles. It's important to note that this value represents the vehicles' original cost and does not account for depreciation, which is listed separately in the document.
Understanding the assets and liabilities of Kitchen Solvers can help potential franchisees assess the financial stability and management of the company. Reviewing these figures in conjunction with other financial data, such as revenue and expenses, offers a more comprehensive view of the franchisor's financial health.