What was the interest income for Zoomin Groomin in 2023?
Zoomin_Groomin Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| ASSETS | |||
| Current Assets | |||
| Cash and Cash Equivalents | $ 71,234 | $ 111,382 | $ 4,894 |
| Inventory | - | 7,308 | 84,180 |
| Accounts Receivable | 386,516 | 212,876 | 161,766 |
| Prepaid Expenses | 1,530 | 1,538 | 28 |
| Income Tax Asset | 712,478 | 385,004 | - |
| Due From Affiliates | 4,819,061 | 2,429,123 | 176,000 |
| Total Current Assets | 5,990,819 | 3,147,231 | 426,868 |
| Other Assets | |||
| Intangible Assets, Net | 66,000 | 72,000 | 78,000 |
| Notes Receivable | 112,937 | 170,063 | 255,386 |
| Total Other Assets | 178,937 | 242,063 | 333,386 |
| TOTAL ASSETS | $ 6,169,756 | $ 3,389,294 | $ 760,254 |
| LIABILITIES & EQUITY | |||
| Current Liabilities | |||
| Accounts Payable | $ 12,509 | $ 83,586 | $ 2,056 |
| Due To Affiliates | - | 45,000 | 171,504 |
| Unearned Revenue | 100,000 | 40,000 | - |
| Deferred Tax Asset | 712,478 | 385,004 | - |
| Deferred Revenue - Current | 1,006,725 | 520,782 | 39,540 |
| Total Current Liabilities | 1,831,712 | 1,074,372 | 213,100 |
| Long-Term Liabilities | |||
| Deferred Revenue | 7,974,307 | 4,125,904 | 1,240,410 |
| Total Long-Term Liabilities | 7,974,307 | 4,125,904 | 1,240,410 |
| Total Liabilities | 9,806,019 | 5,200,276 | 1,453,510 |
| Members' Equity | |||
| Retained Earnings | (3,636,263) | (1,810,982) | (693,256) |
| Members' Equity | (3,636,263) | (1,810,982) | (693,256) |
| TOTAL LIABILITIES & EQUITY | $ 6,169 |
Source: Item 9 — 01. Financial Statements and Exhibits. (FDD pages 68–156)
What This Means (2025 FDD)
According to Zoomin Groomin's 2025 Franchise Disclosure Document, the company's interest income for the year 2023 was $57,843. This figure reflects the income earned from interest-bearing accounts or investments held by Zoomin Groomin during that fiscal year.
For a prospective franchisee, understanding the franchisor's revenue streams is crucial. Interest income, while potentially a smaller portion of overall revenue compared to franchise fees or royalties, can indicate sound financial management and investment strategies. This income can contribute to the financial stability of Zoomin Groomin, which indirectly benefits franchisees through continued support and development of the franchise system.
It's important for potential franchisees to consider interest income in the context of Zoomin Groomin's total revenue and expenses. A consistent history of interest income could suggest effective cash management, while significant fluctuations might warrant further inquiry into the company's investment practices. Reviewing several years of financial statements, as provided in the FDD, helps to establish a clearer picture of this income stream's role in the company's overall financial health.