What was the total value of land owned by Precision Door Service in 2023?
Precision_Door_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
| For the years ending December 31, | 2023 | 2022 |
|---|---|---|
| Allowance, beginning of period | $ 696 | $ 441 |
| Provision for credit losses | 1,303 | - |
| Provision for bad debt | - | 1,413 |
| Net write-offs | (1,356) | (1,178) |
| Foreign currency translation | 16 | 20 |
| Allowance, end of period | $ 659 | $ 6 |
Source: Item 21 — Financial Statements (FDD page 91)
What This Means (2025 FDD)
According to Precision Door Service's 2025 Franchise Disclosure Document, the value of land owned by the company in 2023 was $1,720. This figure is part of the company's assets, reflecting the book value of the land held on its balance sheet. This number is not depreciated like other assets such as buildings and equipment.
For a prospective franchisee, understanding the parent company's asset values can provide insight into the financial stability and investment strategy of Precision Door Service. Land ownership can be a sign of long-term investment and commitment to physical locations, although in many franchise systems, real estate is typically owned by the franchisee, not the franchisor.
It's important to note that this figure represents the company's book value, which may differ from the current market value of the land. Additionally, this value does not indicate the geographic distribution or specific use of the land, which could range from corporate offices to distribution centers. Further due diligence would be required to assess the strategic importance and potential impact of these land holdings on the franchise system.