What was the change in vendor rebates receivable for Basecamp Fitness in 2024 (in thousands of US dollars)?

According to Basecamp Fitness's 2025 Franchise Disclosure Document, the vendor rebates receivable decreased by $245,000 in 2024. In 2024, the vendor rebates receivable was listed as (699), and in 2023, it was listed as (944). These figures are expressed in thousands of US dollars.

Vendor rebates receivable represents money that Basecamp Fitness expects to receive from vendors due to franchisee purchases. A decrease in this receivable could suggest a few possibilities for a prospective franchisee.

First, franchisees may have purchased less from preferred vendors in 2024 compared to 2023. Second, Basecamp Fitness may have changed its agreements with vendors, resulting in lower rebates. Finally, it could also indicate delays or issues in collecting rebates from vendors. Understanding the reasons behind this change is important for a prospective franchisee to assess the potential impact on their studio's profitability and cash flow.