What were the member contributions to Pearce Bespoke as of December 31, 2024?
Pearce_Bespoke Franchise · 2025 FDDAnswer from 2025 FDD Document
e financial statements.
PEARCE BESPOKE FRANCHISING, LLC STATEMENT OF CHANGES IN MEMBERS' (DEFICIT) YEARENDED DECEMBER 31, 2024
| BALANCE, DECEMER 31, 2023 | $ | 7,880 | $ | (479,864) | $ | (471,984) |
|---|---|---|---|---|---|---|
| Member contributions | 52,583 | - |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 39)
What This Means (2025 FDD)
According to Pearce Bespoke's 2025 Franchise Disclosure Document, the statement of changes in members' deficit reveals specific figures regarding member contributions. The balance as of December 31, 2023, was a deficit of $471,984.
Member contributions during the year amounted to $52,583. After accounting for a net loss of $22,237, the balance as of December 31, 2024, was a deficit of $441,638.
Prospective franchisees should note that Pearce Bespoke's member contributions increased, but the company still experienced a net loss, resulting in a members' deficit. This indicates that while members invested capital, the company's expenses and losses outstripped revenues, leading to an overall negative balance in members' equity. This is a critical area to investigate further to understand the financial stability and operational efficiency of Pearce Bespoke.