What were the total revenues for Baya Bar for the year ended December 31, 2021?
Baya_Bar Franchise · 2024 FDDAnswer from 2024 FDD Document
| with franchisees for the years ended December 31, 2023, 2022, and 2021 is as follows: | ||||
|---|---|---|---|---|
| 2023 | 2022 | 2021 | ||
| Performance obligations satisfied at a point | ||||
| in time | $ 728,128 | $ 513,038 | $ 487,513 | |
| Performance obligations satisfied through | ||||
| the passage of time | 18,375 | 14,875 | 1,500 | |
| Total revenues | $ 746,503 | $ 527,913 | $ 489,013 |
Source: Item 23 — RECEIPTS (FDD pages 56–189)
What This Means (2024 FDD)
According to Baya Bar's 2024 Franchise Disclosure Document, the total revenues for the company for the year ended December 31, 2021, were $489,013. This figure represents the combined revenues from performance obligations satisfied at a point in time ($487,513) and performance obligations satisfied through the passage of time ($1,500).
Understanding the components of Baya Bar's revenue streams can be valuable for prospective franchisees. The majority of the revenue in 2021 came from performance obligations satisfied at a point in time, which typically includes initial franchise fees and other upfront payments. A smaller portion was derived from obligations satisfied over time, such as ongoing royalties or service fees.
Reviewing the trend of Baya Bar's total revenues over the three years presented (2021-2023) can provide insights into the company's growth and stability. Note that while 2021 total revenues were $489,013, the total revenues increased to $527,913 in 2022 and $746,503 in 2023. This information, along with a detailed analysis of the financial statements, can help potential franchisees assess the financial health and potential of the Baya Bar franchise system.