What is the reported amount of 'Goodwill, net' for Lees Famous Recipe's LFRC Ocala?
Lees_Famous_Recipe Franchise · 2025 FDDAnswer from 2025 FDD Document
6 | | 2,178,723 | | 42,571 | | 7,517,573 | _ | 4,420,959 | | (18,747,522) | | | | Total equity | _ | 11,056,425 | 4,587,696 | | 2,178,723 | | 42,571 | | 9,308,898 | | 4,420,959 | | (20,538,847) | | 11,056,425 | | Total Liabilities and Equity | $ | 36,871,221 | $ 4,731,250 | $ | 2,181,723 | $ | 42,571 | $ | 13,571,829 | $ | 11,108,958 | $ | (20,538,847) | $ | 47,968,705 |
ARTEMIS RESTAURANT CORP. LEE'S 4-WALL, LLC CONSOLIDATING BALANCE SHEETS DECEMBER 31, 2023
| LFRC Ocala | LFRC Lima | LFRC Springfield | LFRC Mt. Sterling | LFRC Ft. Wayne | LFRC Sanford | Elimination | L | ee's 4-Wall, LLC Total | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets: | 1 0 | |||||||||||||
| Cash and cash equivalents | $ 50,831 | 42,679 | $ | 120,602 | $ | 61,546 | $ | 53,538 | $ (182) | $ | - | $ | 329,014 | |
| Proprietary product sales and allowances receivable | 11,785 | 14,880 | 31,640 | 8,548 | 17,309 | 443 | - | 84,605 | ||||||
| Other receivables | - | - | - | - | - | - | - | - | ||||||
| Intercompany amounts | 17,554 | (3,974) | (41,770) | - | (39,330) | (2,625) | - | (70,145) | ||||||
| Inventory | 38,396 | 37,895 | 105,021 | 26,754 | 66,983 | 11,069 | - | 286,118 | ||||||
| Prepaid expenses | 6,812 | - | - | 2,888 | (76) | - | - | 9,624 | ||||||
| Other current assets | 1,511,799 | 1,762,721 | 2,197,211 | 1,070,067 | 1,248,176 | 66,524 | - | 7,856,498 | ||||||
| Total current assets | 1,637,177 | 1,854,201 | 2,412,704 | 1,169,803 | _ | 1,346,600 | 75,229 | - | 8,495,714 | |||||
| Property and Equipment, net | 120,969 | 686,315 | 804,878 | _ | 91,987 | _ | 411,137 | 3,613 | - | 2,118,899 | ||||
| Other Assets: | ||||||||||||||
| Right of use assets, operating | 1,963,159 | 1,532,459 | 4,786,508 | - | - | - | - | 8,282,1 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 69)
What This Means (2025 FDD)
According to the 2025 Lees Famous Recipe FDD, the 'Goodwill, net' for LFRC Ocala is reported as $1,702,084. This figure is part of the broader balance sheet detailing the assets and liabilities of various company-owned and operated restaurant locations. Goodwill typically arises from acquisitions, representing the intangible value of a business beyond its physical assets.
For a prospective Lees Famous Recipe franchisee, understanding the goodwill associated with company-owned locations can provide insight into the potential value and performance of these restaurants. While franchisees will not directly acquire this goodwill, it reflects the brand strength and customer base that Lees Famous Recipe has established in specific markets. This information can be useful in evaluating the overall financial health and growth strategy of the company.
It's important to note that goodwill is an intangible asset and its value can fluctuate based on various factors, including market conditions and the performance of the business. Franchisees should consider this figure in conjunction with other financial metrics and market data to assess the overall investment opportunity with Lees Famous Recipe.