What was the 'Accrued salaries and wages' amount for Bens Soft Pretzels in 2024?
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 Ben's Soft Pretzels' 2025 Franchise Disclosure Document, the 'Accrued salaries and wages' for the company in 2024 was $15,575. This figure represents the amount of salaries and wages that Ben's Soft Pretzels owed to its employees as of December 31, 2024, but had not yet paid out. This is a snapshot of the company's short-term liabilities at the end of the fiscal year.
For a prospective franchisee, understanding accrued salaries and wages can provide insight into the company's financial management and its obligations to employees. While this specific figure reflects the franchisor's obligations, franchisees will also need to manage their own employee payroll and related accruals. Accrued salaries and wages are a normal part of business operations, especially for companies with employees, and this liability is typically settled in the short term.
It's important to note that this figure is just one component of Ben's Soft Pretzels' overall financial health. A prospective franchisee should review the complete financial statements, including the balance sheets, income statements, and cash flow statements, to gain a comprehensive understanding of the company's financial position and performance. Analyzing trends in accrued salaries and wages over the three years presented (2022, 2023, and 2024) can also provide insights into the company's growth and expense management.