What was the balance due on the Bevaris Alliance company credit card as of December 31, 2022?
Bevaris_Alliance Franchise · 2024 FDDAnswer from 2024 FDD Document
lopment Costs at December 31, 2023 and 2022 are presented as follows:
| 2023 | 2022 | |
|---|---|---|
| Deferred franchise development costs | $ 73,279 | $ 73,279 |
| Less - accumulated amort |
Source: Item 23 — RECEIPT (FDD pages 22–88)
What This Means (2024 FDD)
According to Bevaris Alliance's 2024 Franchise Disclosure Document, the balance due on the company's credit card as of December 31, 2022, was $2,924. The credit card has an aggregate credit limit of $20,000 and an annual interest rate of 25.99%.
This information is relevant to potential franchisees as it provides insight into Bevaris Alliance's financial management and debt obligations. A significant credit card balance could indicate potential financial strain on the company, while a well-managed balance suggests fiscal responsibility. The high interest rate of 25.99% could also be a concern if the balance is not managed effectively.
Prospective franchisees should consider this information in conjunction with other financial data provided in the FDD, such as the company's income statements, balance sheets, and cash flow statements, to gain a comprehensive understanding of Bevaris Alliance's financial health. It is also advisable to inquire about the company's credit card usage policies and repayment strategies to assess the potential impact on the franchisor's financial stability.