What was the amount of Best Brains' Credit Card at Chase 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 Card at Chase liability as of December 31, 2023, was $36,525.47. This figure represents the amount Best Brains owed on its Chase credit card at the close of the 2023 fiscal year.
For a prospective franchisee, understanding Best Brains' liabilities is crucial for assessing the company's financial health. Credit card liabilities, in particular, can indicate how the company manages its short-term obligations and cash flow. A higher credit card liability might suggest a greater reliance on credit to cover expenses, while a lower liability could indicate stronger financial management.
It's also worth noting that Best Brains had other credit card liabilities with different institutions, such as Bank of America, Citibank, and BCBS. The total credit card liabilities amounted to $82,455.73 as of December 31, 2023. Reviewing these liabilities in detail can provide a more comprehensive view of Best Brains' financial obligations and how they compare to industry benchmarks.