What was the total for long-term liabilities for Best Brains?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
| DISTRIBUTION ACCOUNT | TOTAL |
|---|---|
| Rent Deposit | 6,926.00 |
| Software Development | $96,000.00 |
| Accumulated Amortization | -59,400.00 |
| Total for Software Development | $36,600.00 |
| Total for Other Assets | $829,502.94 |
| Total for Assets | $5,800,353.06 |
| Liabilities and Equity | |
| Liabilities | |
| Current Liabilities | |
| Accounts Payable | |
| Accounts Payable | 4,359,868.59 |
| Total for Accounts Payable | $4,359,868.59 |
| Credit Cards | |
| Chase United | 58,323.60 |
| Citibank AAdvantage | 32,104.94 |
| Credit Card at BOA4100 | 21,147.88 |
| Credit Card at Chase - 0669 | -25,054.83 |
| Credit Card at Chase - 4855 | 56,277.45 |
| Total for Credit Cards | $142,799.04 |
| Other Current Liabilities | |
| Accrued Real Estate Tax | |
| Credit BCBS | |
| Deferred Franchise Revenue - Current | 111,920.00 |
| Deposit Made in Error | |
| Direct Deposit Payable | |
| Franchise Advance | |
| Franchise fees Advance | 162,500.00 |
| Loan | $30,129.49 |
| Fora Financial | 38,484.27 |
| Total for Loan | $68,613.76 |
| Loan from the shareholders | |
| Payroll Liabilities | 0 |
| 401K | -4,467.75 |
| Federal Taxes (941/944) | |
| Federal Unemployment (940) | |
| Garnishments | -5,599.12 |
| Health Insurance (pre-tax) | -$24,207.06 |
| Health Insurance (company paid) |
B
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Best Brains' 2025 Franchise Disclosure Document, the total long-term liabilities amount to $818,945.95 as of the financial statement date. This figure represents the accumulation of various long-term financial obligations of Best Brains, including deferred franchise revenue and auto financing.
Specifically, the long-term liabilities consist of several components. Deferred Franchise Revenue - LongTerm accounts for $402,161.01 of the total. Additionally, there are liabilities related to auto financing, including $82,568.98 for Auto Finance HEV, $60,687.75 for Chase Auto Finance - REV, $94,364.53 for Chase-CTruck, $29,163.68 for Finance Ford E-Transit Cargo, and $150,000 for an EIDL Loan. These individual debts combine to form the total long-term liabilities figure.
For a prospective Best Brains franchisee, understanding the franchisor's long-term liabilities can provide insight into the financial stability and obligations of the company. While not directly impacting the franchisee's immediate operations, a high level of long-term debt could indicate potential financial strain on the franchisor, which could indirectly affect the support and resources available to franchisees. Therefore, reviewing these figures in conjunction with other financial metrics is crucial for assessing the overall health of the Best Brains franchise system.