What were the fixed assets (net) for My Salon Suite as of December 31, 2022?
My_Salon_Suite Franchise · 2025 FDDAnswer from 2025 FDD Document
identified during the audit.
Dallas, Texas April 26, 2024
Consolidated Balance Sheets
| As of December 31, | 2023 | 2022 |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $ 8,047,052 | $ 11,866,419 |
| Accounts receivable - net | 5,374,191 | 5,062,196 |
| Current portion of notes receivable - net | 66,427 | 91,504 |
| Amounts due from affiliates | 486,028 | - |
| Prepaid expenses | 1,956,054 | 2,561,724 |
| Other current assets | 736,544 | 640,893 |
| T | 44.444.204 | 20 222 727 |
| Total current assets | 16,666,296 | 20,222,736 |
| Fixed assets - net | 12,961,306 | 9,996,833 |
| Right of use assets - net | 60,777,646 | 44,760,873 |
| Other intangibles - net | 81,990,839 | 83,841,171 |
| Goodwill - net | 300,287,335 | 296,897,247 |
| Notes receivable, less current portion - net | 90,091 | 111,093 |
| Other |
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's fixed assets, net, as of December 31, 2022, were $9,996,833. This figure represents the value of My Salon Suite's long-term assets, such as property, plant, and equipment, after accounting for accumulated depreciation. These assets are essential for the company's operations and contribute to its ability to generate revenue. The fixed assets include furniture, equipment, and leasehold improvements.
For a prospective franchisee, understanding the fixed assets is crucial as it reflects the capital-intensive nature of the business. The initial investment for setting up a My Salon Suite franchise would involve acquiring or leasing necessary fixed assets. The depreciation of these assets is also an important factor to consider, as it impacts the profitability and tax obligations of the franchise.
It's also worth noting that the total fixed assets include construction in progress, which amounted to $726,636 as of December 31, 2022. This indicates ongoing investments in improving or expanding the company's infrastructure. Monitoring these figures over time can provide insights into the company's growth strategy and capital expenditure plans.