What was the total amount of long-term liabilities for Bens Soft Pretzels in 2022?
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 | 3,059 | 3,059 | 3,144 |
| Other current liabilities | 1,608 | - | _ |
| Total current liabilities | 271,324 | 263,250 | 259,039 |
| Long-term liabilities | |||
| Deferred revenue - franchise fee | 332,002 | 300,060 | 346,954 |
| Deferred revenue - related party | - | 234 | 698 |
| Deferred revenue - rebate incentive | 12,000 | - | - |
| Long-term debt | 230,382 | 252,150 | 25,701 |
| 6 | 574,384 | 552,444 | 373,353 |
| Less current maturities of deferred | , | , | , |
| revenue, rebates, and long-term debt | (128,548) | (124,524) | (128,358 |
| Total long-term liabilities | 445,836 | 427,920 | 244,995 |
| Total liabilities | 717,160 | 691,170 | 504,034 |
| Stockholders' equity | |||
| Common stock, no par value, 1,000,000 | |||
| shares authorized, 10,000 shares | |||
| issued and outstanding | 10,000 | 10,000 | 10,000 |
| Retained earnings | 1,054,177 | 928,302 | 787,113 |
| Total stockholders' equity | 1, |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 46)
What This Means (2025 FDD)
According to Bens Soft Pretzels' 2025 Franchise Disclosure Document, the company's total long-term liabilities in 2022 were $244,995. This figure represents the sum of several deferred revenue streams and long-term debt, less current maturities of deferred revenue, rebates, and long-term debt. These liabilities reflect obligations that Bens Soft Pretzels owes beyond the upcoming year.
Specifically, the long-term liabilities consist of deferred revenue from franchise fees ($346,954), deferred revenue from a related party ($698), and long-term debt ($25,701). From this total of $373,353, the current maturities of deferred revenue, rebates, and long-term debt ($128,358) are subtracted to arrive at the total long-term liabilities of $244,995.
For a prospective franchisee, understanding the franchisor's long-term liabilities can provide insight into the company's financial stability and its ability to meet its future obligations. A significant increase in long-term liabilities could indicate that Bens Soft Pretzels is taking on more debt or has increasing obligations related to franchise fees, which could affect its financial health and support for franchisees.