What amount of cash did My Salon Suite receive for interest in the second disclosed year?
My_Salon_Suite Franchise · 2025 FDDAnswer from 2025 FDD Document
ents | | | | at | | | | end | | | | of | | | | year | | |
Consolidated Statements of Cash Flows
| Supplemental disclosure: Cash paid for income taxes | $ 5,028,164 | $ 2,603,475 |
|---|---|---|
| Cash | $ 66,388 | $ 695 |
| received | ||
| for | ||
| interest | ||
| S | ||
| upplemental | ||
| noncash | ||
| disclosures: | ||
| Fixed | $ 704,463 | $ - |
| assets | ||
| purchased | ||
| and | ||
| unpaid, | ||
| included | ||
| in | ||
| accounts payable and accrued liabilities | ||
| Right-of-use | ||
| assets | ||
| recorded | ||
| upon | ||
| adoption | ||
| of | ||
| ASC | ||
| 842 | $ - | $ 42,546,655 |
| Right-of-use | $ - | $ 41,754,431 |
| liabilities | ||
| recorded | ||
| upon | ||
| adoption | ||
| of | ||
| ASC 842 | ||
| Operating | $ 17,621,018 | $ 1,183,320 |
| right-of-use | ||
| assets | ||
| obtained | ||
| in | ||
| exchange | ||
| for right-of-use liabilities | ||
| Non-cash | $ 1,124,755 | $ 4,987,904 |
| impact | ||
| of | ||
| lease | ||
| modifications | ||
| Non-cash | $ 1,113,144 | $ - |
| impact | ||
| of |
Source: Item 6 — Other Intangibles and Goodwill (FDD pages 274–314)
What This Means (2025 FDD)
According to My Salon Suite's 2025 Franchise Disclosure Document, the company received $695 in cash for interest in 2022. This is compared to $66,388 in cash received for interest in 2023.
This information is part of the supplemental disclosures regarding cash flow. These figures are important for prospective franchisees as they provide insight into the company's cash management and how it generates income from sources other than its primary operations. Interest income, while typically a smaller portion of overall revenue, can indicate how effectively My Salon Suite manages its cash reserves.
It's worth noting that the amount of cash received for interest can fluctuate from year to year based on various factors, including interest rates, cash balances, and investment strategies. Franchisees may want to inquire about the company's policies on cash management and investment to understand the potential for this type of income generation.