What was the total amount of accrued liabilities for Bath Tune Up as of December 31, 2023?
Bath_Tune_Up Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 23: RECEIPTS]
| 12/31/2024 | 12/31/2023 | |
|---|---|---|
| Accrued cost of sales $ 339,593 $ 328,125 | ||
| Accrued compensation 116,571 118,990 | ||
| Accrued training costs 15,653 24,892 | ||
| Accrued accounts payable 3,779 42,060 | ||
| Other 767 399 | ||
| Accrued liabilities $ 476,363 $ 514,466 |
Source: Item 23 — RECEIPTS (FDD pages 52–222)
What This Means (2025 FDD)
According to Bath Tune Up's 2025 Franchise Disclosure Document, the total accrued liabilities as of December 31, 2023, were $514,466. This figure represents the accumulation of various short-term financial obligations that Bath Tune Up had not yet paid at the end of the fiscal year. These liabilities are a part of the company's overall financial health and are listed on the balance sheet. Accrued liabilities are different from accounts payable, which represent invoices that Bath Tune Up has received but not yet paid. Accrued liabilities are expenses that have been incurred but not yet invoiced.
The accrued liabilities consist of several components, including accrued cost of sales, accrued compensation, accrued training costs, accrued accounts payable, and other miscellaneous accruals. Specifically, the accrued cost of sales was $328,125, accrued compensation was $118,990, accrued training costs amounted to $24,892 and accrued accounts payable totaled $42,060. The other accrued liabilities were $399.
Understanding the composition and changes in accrued liabilities can provide insights into Bath Tune Up's operational efficiency and financial management. For a prospective franchisee, this information is useful for assessing the financial stability and transparency of the franchisor. It's also important to compare these figures with previous years and industry benchmarks to identify any trends or potential areas of concern.