What was the total liabilities 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 | 3,059 | 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 liabilities as of December 31, 2024, were $717,160. This figure represents the sum of all current and long-term liabilities that Bens Soft Pretzels owes to various creditors, suppliers, and other parties. Reviewing these liabilities can provide insight into the company's financial obligations and overall financial health.
Specifically, the current liabilities, which are obligations due within one year, totaled $271,324. These include items such as current maturities of deferred revenue ($112,547), current maturities of deferred rebates ($3,000), accounts payable ($15,411), accounts payable to related parties ($16,558), gift cards payable ($82,465), accrued salaries and wages ($15,575), accrued property tax ($8,100), accrued distributions ($3,059), and other current liabilities ($1,608). Long-term liabilities amounted to $445,836, which includes deferred revenue from franchise fees ($332,002), deferred revenue from rebate incentives ($12,000), and long-term debt ($230,382), less current maturities of deferred revenue, rebates, and long-term debt ($128,548).
A prospective franchisee should consider the composition and magnitude of these liabilities when assessing the financial stability of Bens Soft Pretzels. Understanding the nature of these obligations can help in evaluating the company's ability to meet its financial commitments and support its franchisees. Comparing these figures with previous years (2023 and 2022) can also reveal trends in the company's debt management and financial strategy.