What was the total security deposit for Mr. Sandless as of December 31, 2024?
Mr_Sandless Franchise · 2025 FDDAnswer from 2025 FDD Document
ignificant audit findings, and certain internal control-related matters that we identified during the audit.
Muhammad Zubairy, CPA Valley Stream, NY April 1, 2025
MR. SANDLESS FRANCHISE, LLC BALANCE SHEETS
| ASSETS | ||||
|---|---|---|---|---|
| YEARS ENDED DECEMBER 31 | 2024 | 2023 | ||
| Current Assets | ||||
| Cash | $ | 35,452 | $ | 50,575 |
| Accounts receivable | 41,949 | 49,667 | ||
| Inventory | 8,013 | 8,013 | ||
| Due from related par |
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 41–42)
What This Means (2025 FDD)
According to Mr. Sandless's 2025 Franchise Disclosure Document, the company held a security deposit of $2,000 as of December 31, 2024. This figure is also consistent with the security deposit held at the end of 2023.
For a prospective franchisee, this indicates that Mr. Sandless maintains a relatively small security deposit. This could be related to leases or other agreements.
It is important to note that while the security deposit amount is consistent across the two years presented, changes in this amount could occur in the future. A potential franchisee should inquire about the conditions under which this deposit is held and if there are any plans to change the amount or terms in the future.