What was the amount of Best Brains' Credit BCBS liability as of December 31, 2023?
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, 2023, was $3,726.42. This figure represents the amount Best Brains owed on its Credit BCBS account at that specific point in time.
For a prospective franchisee, understanding liabilities is crucial as it provides insight into the financial obligations of Best Brains. This particular liability, along with other credit card liabilities, contributes to the overall financial health and stability of the company. Monitoring these figures over time can reveal trends in spending and debt management.
It's important to note that this is just one component of Best Brains' total liabilities. The FDD provides a more comprehensive view of all current and long-term liabilities, which should be carefully reviewed to assess the financial risks and obligations associated with investing in a Best Brains franchise.