What was the total value of Mr. Sandless's property and equipment (net) at the end of 2022?
Mr_Sandless Franchise · 2025 FDDAnswer from 2025 FDD Document
vernance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.
Monis Siddiqui, CPA P.C.
Bellerose, NY April 28, 2023
MR. SANDLESS FRANCHISE, LLC BALANCE SHEETS
| ASSETS | ||
|---|---|---|
| YEARS ENDED DECEMBER 31 | ||
| 2022 | 2021 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 41–42)
What This Means (2025 FDD)
According to Mr. Sandless's 2025 Franchise Disclosure Document, the net book value of the company's property and equipment as of December 31, 2022, was $7,290. This figure represents the original cost of the assets less any accumulated depreciation. These assets include items like office equipment, computer equipment, and automobiles, which are depreciated using the straight-line method over an estimated useful life of five years.
For a prospective Mr. Sandless franchisee, this indicates the level of investment the company itself has in its physical assets. It's important to note that these financial statements are prepared without an audit, meaning no independent certified public accountant has verified the figures.
Understanding the depreciation methods and asset values can be useful for franchisees when assessing the financial health and stability of Mr. Sandless. It's also worth noting that while the company's property and equipment had a net book value of $7,290 at the end of 2022, this value was $64,898 at the end of 2023 and $44,492 at the end of 2024, indicating fluctuations in asset acquisition and depreciation over those years.