What was the total amount of Zoomin Groomin's intangible assets, net in 2024?
Zoomin_Groomin Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| ASSETS | |||
| Other Assets | |||
| Intangible Assets, Net | 66,000 | 72,000 | 78,000 |
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 intangible assets, net, totaled $66,000 in 2024. This figure reflects the value of assets that are not physical, such as contracts, goodwill, and trademarks, after accounting for amortization.
Zoomin Groomin's accounting policies state that these intangible assets are amortized over a fifteen-year period using the straight-line method. The annual amortization expense is $2,000 per asset per year. This means the initial value of these assets is gradually reduced over their useful life, impacting the net value reported on the balance sheet.
For a prospective franchisee, understanding the valuation and amortization of intangible assets is important as it reflects the financial management and stability of Zoomin Groomin. The FDD indicates that the total amortization expense for these assets will be $6,000 per year for the next five years. This consistent amortization schedule provides a predictable expense for the company.