How much revenue did Bor Restoration recognize over time in 2022?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
2020:
The following table provides information about significant changes in deferred revenue on franchise fees for the year ended December 31,:
| | 2022 | 2021 | 2020 | |--------------------------------------------
Source: Item 23 — Receipts (FDD pages 40–202)
What This Means (2024 FDD)
According to Bor Restoration's 2024 Franchise Disclosure Document, the amount of services that were recognized over time during the year ended December 31, 2022, amounted to $0. In contrast, the revenue recognized over time was $393,597 in 2021 and $182,000 in 2020. Bor Restoration also recognized no services at a point in time for these years.
This means that Bor Restoration did not recognize any revenue from services over time during 2022, which may be an anomaly or reflect a change in how revenue was recognized during that specific year. A potential franchisee should investigate the reasons for this discrepancy to understand if it was a one-time event or if there are ongoing factors that could impact future revenue recognition.
Understanding the details behind revenue recognition is crucial for prospective franchisees. It is important to ask Bor Restoration about the factors that led to zero revenue recognized over time in 2022. This inquiry can provide insights into the stability and predictability of revenue streams, which are essential for making an informed investment decision.