What was the total amount of accrued and other liabilities for Benjamin Franklin Plumbing as of December 31, 2024?
Benjamin_Franklin_Plumbing Franchise · 2025 FDDAnswer from 2025 FDD Document
| As of December 31, | ||||
|---|---|---|---|---|
| 2024 | 2023 | |||
| Liabilities and Stockholder's Equity | ||||
| Current liabilities | ||||
| Accounts payable | $ | 6,803 | $ | 9,980 |
| Accrued and other liabilities | 38,396 | 27,562 |
Source: Item 22 — CONTRACTS (FDD pages 87–88)
What This Means (2025 FDD)
According to the 2025 FDD, as of December 31, 2024, Benjamin Franklin Plumbing had accrued and other liabilities totaling $38,396. This represents the company's short-term financial obligations, which can include items such as accrued salaries, taxes, and other miscellaneous liabilities. In comparison, the accrued and other liabilities as of December 31, 2023, were $27,562.
Accrued liabilities are those expenses that a company has incurred but has not yet paid. For a prospective Benjamin Franklin Plumbing franchisee, understanding the accrued liabilities of the franchisor can provide insight into the company's financial management and its ability to meet its short-term obligations. A significant increase in accrued liabilities could indicate potential financial strain, while a stable or decreasing level might suggest sound financial health.
It's important to note that these figures are specific to the franchisor, Benjamin Franklin Franchising SPE LLC, and not necessarily indicative of the financial performance or liabilities of individual franchise units. Franchisees should focus on their own financial performance and obligations, while also considering the financial stability of the franchisor as a factor in their overall investment decision. Reviewing these figures in the FDD can help potential franchisees assess the financial stability of Benjamin Franklin Plumbing.