What was the 'Accrued property tax' amount for Bens Soft Pretzels in 2023 for Bens Soft Pretzels?
Bens_Soft_Pretzels Franchise · 2025 FDDAnswer from 2025 FDD Document
$ | 1,629,472 | $ 1,301,147 | |
BEN'S SOFT PRETZELS FRANCHISING CORPORATION BALANCE SHEETS
December 31, 2024, 2023, and 2022
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| LIABILITIES AND | |||
| STOCKHOLDERS' EQUITY | |||
| Current liabilities | |||
| Current maturities of deferred revenue | $ 112,547 | $ 102,473 | $ 115,774 |
| Current maturities of deferred rebates | 3,000 | - | - |
| Current maturities of long-term debt | 13,001 | 22,051 | 12,584 |
| Accounts payable | 15,411 | 27,973 | 36,164 |
| Accounts payable - related parties | 16,558 | 8,915 | 9,959 |
| Gift cards payable | 82,465 | 81,173 | 75,975 |
| Accrued salaries and wages | 15,575 | 10,106 | 5,439 |
| Accrued property tax | 8,100 | 7,500 | - |
| Accrued distributions | 3 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 46)
What This Means (2025 FDD)
According to Bens Soft Pretzels' 2025 Franchise Disclosure Document, the accrued property tax for the company in 2023 was $7,500. This figure is part of the company's liabilities and is detailed in the balance sheets. The balance sheets included in the FDD cover the financial years 2024, 2023, and 2022, offering a comparative view of the company's financial position.
Accrued property tax represents the amount of property tax expense that Bens Soft Pretzels has incurred but not yet paid as of the end of the fiscal year. This is a common liability for businesses that own property, as property taxes are typically assessed annually but may be paid in installments or after a certain period. The accrued property tax liability reflects the company's obligation to pay these taxes in the future.
For a prospective franchisee, understanding the accrued property tax is important for assessing the overall financial health and stability of Bens Soft Pretzels. While this figure relates to the franchisor's financial obligations, it provides insight into how the company manages its finances and liabilities. A consistent and manageable level of accrued property tax can indicate sound financial planning and adherence to accounting principles. However, significant fluctuations or unusually high amounts could warrant further investigation to understand the underlying reasons and potential implications.
Franchisees should consider this information in conjunction with other financial data provided in the FDD, such as revenue, expenses, and other liabilities, to gain a comprehensive understanding of the franchisor's financial condition. Consulting with a financial advisor or accountant is recommended to properly interpret the financial statements and assess the potential risks and rewards of investing in a Bens Soft Pretzels franchise.