What was the amount of Best Brains' Credit BCBS liability as of December 31, 2022?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
| 6 ( | Other Current Liabilities | As at December 31, 2023 | As at December 31, 2022 |
|---|---|---|---|
| ( | Credit Card Liabilities | ||
| Credit Card at BOA4100 | 1,277.11 | 8,660.91 | |
| Credit Card at Chase | 36,525.47 | 48,735.96 | |
| Chase United | 29,956.61 | 434.79 | |
| Credit BCBS | 3,726.42 | 1,405.36 | |
| Citibank AAdvantage | 10,970.12 | 3,252.89 | |
| Total credit card Liabilities | 82,455.73 | 62,489.91 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Best Brains' 2025 Franchise Disclosure Document, the Credit BCBS liability as of December 31, 2022, was $1,405.36. This figure represents the amount Best Brains owed on its Credit BCBS account at that specific point in time.
For a prospective franchisee, understanding these liabilities is crucial as it provides insight into the financial obligations of Best Brains. Reviewing the trend of these liabilities over time, as presented in the table, can indicate how Best Brains manages its short-term debts and overall financial health. A significant increase in credit card liabilities could signal potential cash flow issues or increased reliance on credit to fund operations.
It's also important to note that the FDD includes audited financial statements for the fiscal years ending December 31, 2024, 2023, and 2022. This allows potential franchisees to review the company's financial performance over a three-year period, offering a more comprehensive understanding of its financial stability and practices.