What was the total equity for Zoomin Groomin at January 1, 2023?
Zoomin_Groomin Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Revenues | |||
| Franchise Fees | $ 496,101 | $ 260,076 | $ 24,545 |
| Marketing & Technology Revenue | 383,043 | 103,849 | 10,059 |
| Area Rep Sales Revenue | 485,389 | 484,754 | 55,248 |
| Royalty Revenue | 1,420,950 | 376,630 | 92,640 |
| Other Income | 40,000 | 113,749 | - |
| Interest Income | 73,831 | 57,843 | 23,128 |
| Total Revenues | 2,899,314 | 1,396,901 | 205,620 |
| Expenses | |||
| Advertising and Marketing | 919,283 | 280,833 | 96,532 |
| Amortization Expense | 6,000 | 6,000 | 6,000 |
| Area Rep Expense | 1,658,376 | 568,628 | 74,059 |
| Commissions and Consulting | 167,473 | 198,260 | 9,750 |
| Contract Labor | 48,517 | 4,025 | 3,750 |
| Filing Fees | 8,569 | 7,905 | 5,951 |
| Insurance Expense | 7,492 | 5,368 | 4,203 |
| Lease Expense | 27,258 | - | - |
| Legal and Professional | 68,861 | 12,145 | 10,294 |
| Licenses & Fees | 175 | 601 | 535 |
| Meal Expense | 11,695 | 10,425 | 5,372 |
| Meeting Expense | 832 | 2,027 | 10,737 |
| Office Expense | 18,731 | 6,775 | 10,885 |
| Overhead - Corporate | 634,593 | 394,933 | 118,779 |
| Overhead - Marketing & Sales | 662,427 | 743,021 | 205,038 |
| Payroll Taxes | 22,435 | 12,267 | 5,191 |
| Postage and Shipping | 3,622 | 1,810 | 1,463 |
| Salaries and Wages | 296,420 | 163,480 | 71,349 |
| Technology Expense | 30,152 | 32,411 | 33,437 |
| Training Expense | 79, |
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 equity at January 1, 2023, was $"(693,256)". This means that Zoomin Groomin had a negative equity balance at the beginning of 2023.
Equity represents the owner's stake in the company, calculated as the difference between assets and liabilities. A negative equity suggests that the company's liabilities exceeded its assets at that time.
This figure is a snapshot of Zoomin Groomin's financial position at a specific point in time and does not necessarily reflect its long-term viability or future performance. Prospective franchisees should consider this information in the context of the company's overall financial statements and consult with a financial advisor to assess the potential risks and rewards of investing in a Zoomin Groomin franchise.