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What was the total liabilities for Bens Soft Pretzels in 2024?

Bens_Soft_Pretzels Franchise · 2025 FDD

Answer 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.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.