What was Bor Restoration's deferred revenue at the beginning of 2020?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
1, 2019. The Company is no longer subject to state tax audits on its Form 104 state tax return by taxing authorities for years ending prior to December 31, 2018. The years subsequ
Source: Item 23 — Receipts (FDD pages 40–202)
What This Means (2024 FDD)
According to Bor Restoration's 2024 Franchise Disclosure Document, the deferred revenue at the beginning of 2020 is not explicitly listed in the provided tables. The table includes a column for 2020, but the corresponding value for 'Deferred revenue, beginning of year' is missing.
Deferred revenue generally represents payments a company has received for services or products that have not yet been delivered or earned. For a Bor Restoration franchise, this could include initial franchise fees or other upfront payments that are recognized over time as the franchisee operates.
A prospective franchisee should ask Bor Restoration's franchisor for the specific deferred revenue amount at the beginning of 2020 to gain a clearer understanding of the company's financial performance and revenue recognition practices during that period. This information would be helpful in assessing the company's financial stability and growth trends.