What was the value of right of assets - long-term for Bb.Q Chicken in 2024?
Bb_Q_Chicken Franchise · 2025 FDDAnswer from 2025 FDD Document
The Company leases certain office space, restaurant site, vehicles and equipment. The Company assessed whether an arrangement qualifies as a lease (conveys the right to control the use of identified asset for a period of time in exchange for consideration) at inception and only reassesses its determination if the terms and conditions of the arrangement are changed. Lease with an initial term of 12 months or less are not recorded on the balance sheet. Lease expense is recognized for these leases on a straight-line basis over the lease term.
Certain leases include one or more options to renew, with renewal terms that can extend the lease term from one to 10 years or more. The excise of lease renewal options is at the Company's sole discretion.
Operating leases are included in operating lease right-of-use ("ROU") assets, other current liabilities, and operating lease liabilities in our balance sheets. Finance leases are included in property and equipment, other current liabilities, and other long-term liabilities in balance sheets. The Company does not have finance lease as of December 31, 2023.
Source: Item 23 — RECEIPTS (FDD pages 62–283)
What This Means (2025 FDD)
Based on the 2025 Bb.Q Chicken Franchise Disclosure Document, the provided excerpts do not contain the specific value for right-of-use assets - long-term as of December 31, 2024. However, the document does mention right-of-use assets in the context of lease commitments.
Specifically, Note 9 discusses lease commitments, stating that the company leases certain office space, restaurant sites, vehicles, and equipment. It clarifies that operating leases are included in operating lease right-of-use assets, other current liabilities, and operating lease liabilities in the balance sheets. The note also mentions that the company does not have finance leases as of December 31, 2023.
A prospective franchisee should inquire directly with Bb.Q Chicken's financial department to obtain the specific value of right-of-use assets - long-term for 2024. Understanding these figures is crucial for assessing the company's financial health and long-term obligations related to leased assets.