What was the amount of the Best Brains credit card liability at BOA4100 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 card liability at BOA4100 as of December 31, 2022, was $8,660.91. This figure represents the outstanding balance on the Best Brains' credit card account held at Bank of America (BOA) at the close of the 2022 fiscal year.
Credit card liabilities are a common component of a company's balance sheet, reflecting short-term debt obligations. For a prospective Best Brains franchisee, understanding these liabilities provides insight into the company's financial management and short-term obligations. Reviewing the trend of these liabilities over time, as presented in the FDD, can further illustrate the company's spending and repayment patterns.
It's important to note that this is just one aspect of Best Brains' overall financial health. Franchisees should consider this figure in conjunction with other liabilities, assets, and revenue figures presented in the financial statements to gain a comprehensive understanding of the company's financial position. Consulting with a financial advisor is recommended to properly assess the financial implications for potential franchisees.