What was the total amount of tuition fees collected by Best Brains as of December 31, 2024?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
| December 31, 2024 | December 31, 2023 | |
|---|---|---|
| Current Assets | ||
| Cash and cash equivalents | $ 219,342 | $ 285,979 |
| Due from related affiliates | 100,000 | 199,679 |
| Accounts Receivable | 2,444,879 | 2,038,407 |
| Advances | 140,891 | 140,891 |
| Inventory | 1,483,909 | 417,347 |
| Loan receivable | 666,477 | 942,746 |
| Other Current Assets | 6,926 | 15,822 |
| Total Current Assets | 5,062,424 | 4,040,872 |
| Fixed Asset | ||
| Building and equipment | 160,000 | 160,000 |
| Furniture and fixture | 121,927 | 119,417 |
| Vehicles | 545,919 | 246,030 |
| Less:Accumulated depreciation | (331,132) | (278,956) |
| Total Fixed Asset | 496,714 | 246,490 |
| Intangible Asset | 96,000 | 96,000 |
| Software development | ||
| Less:Accumulated amortization | (59,400) | (47,200) |
| 36,600 | 48,800 | |
| Total Assets | 5,595,738 LIABILITIES AND STOCKHOLDERS' EQUITY | 4,336,162 |
| Current Liabilities | ||
| Account and credit card payable | 4,116,083 | 3,545,720 |
| Mortgages, notes, bonds payable within 1 year | 157,834 | 50,129 |
| Deferred franchise revenue - Current | 111,920 | 45,025 |
| Other current liabilities | 157,392 | 170,701 |
| Total Liabilities | 4,543,229 | 3,811,576 |
| Non-Current Liabilities | ||
| Mortgages, notes, bonds payable in 1 year or more | 300,090 | 94,311 |
| Economic injury disaster loan (EIDL) | 150,000 | 150,000 |
| Deferred franchise revenue - Non-current | 402,161 | 91,143 |
| To |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Best Brains' 2025 Franchise Disclosure Document, the total tuition fees collected by Best Brains as of December 31, 2024, amounted to $1,101,650. This figure represents the revenue generated directly from tuition payments made by students enrolled in Best Brains programs. This is a significant revenue stream for Best Brains, and it reflects the core business activity of providing educational services.
For a prospective franchisee, this number provides insight into the potential revenue that can be generated from tuition fees. It's important to note that this is the franchisor's revenue, not an individual franchisee's revenue. A franchisee's tuition fee revenue would depend on factors such as the location of their center, the number of students enrolled, and the local market conditions.
It is also worth noting that the FDD includes a line item for "Tuition Fee Reimbursement" in the amount of $1,103,757 for the same period. This suggests that Best Brains may be reimbursing franchisees a portion of the tuition fees collected, possibly as part of a revenue-sharing agreement or to cover specific expenses. Understanding the details of this reimbursement is crucial for any potential franchisee to accurately assess their potential earnings. A prospective franchisee should inquire about the specifics of this reimbursement, including the criteria for eligibility and the reimbursement rate, to fully understand the financial dynamics of operating a Best Brains franchise.