What were the total liabilities for Brightstar Care as of January 1, 2023?
Brightstar_Care Franchise · 2025 FDDAnswer from 2025 FDD Document
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Consolidated Balance Sheets
| December 31, 2023 | January 1, 2023 | |
|---|---|---|
| Assets | ||
| Current Assets Cash and cash equivalents Accounts receivable, net of allowances for credit losses of $213,282 and $309,337, respectively | $ 267,218 5,986,114 | $ 16,868 5,170,910 |
| Prepaid expenses | 1,782,560 | 888,291 |
| Inventory | - | 74,793 |
| Other current assets | 435,628 | 724,829 |
| Total Current Assets | 8,471,520 | 6,875,691 |
| Property and Equipment, Net | 8,551,823 | 7,605,214 |
| Other Long-Term Assets Operating lease - right-of-use asset Notes receivable - affiliated companies | 137,232 7,287,629 | 543,187 15,322,517 |
| Total Other Long-Term Assets | 7,424,861 | 15,865,704 |
| Total Assets | $ 24,448,204 | $ 30,346,609 |
| Liabilities and Member's Equity | ||
| Current Liabilities Accounts payable Accrued salaries and payroll tax Operating lease liability Other current liabilities | $ 1,993,783 3,310,197 77,343 3,026,086 | $ 1,891,620 2,695,354 463,557 2,773,898 |
| Total Current Liabilities | 8,407,409 | 7,824,429 |
| Long-Term Liabilities | - | 96,472 |
| Operating lease liability, net of current | ||
| Total Long-Term Liabilities | - | 96,472 |
| Total Liabilities | 8,407,409 | 7,920,901 |
| Commitments and Contingencies | ||
| BrightStar Franchising, LLC Member's Equity | 31,379,828 | 35,998,333 |
| Non-Controlling Interest | (15,339,033) | (13, |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 117)
What This Means (2025 FDD)
According to Brightstar Care's 2025 Franchise Disclosure Document, the company's total liabilities as of January 1, 2023, were $7,920,901. This figure represents the sum of all current liabilities ($7,824,429) and total long-term liabilities ($96,472) at that time.
Understanding the liabilities of a franchise is crucial for potential franchisees. It provides insight into the company's financial obligations, including accounts payable, accrued salaries and payroll taxes, operating lease liabilities, and other current liabilities. A high level of liabilities could indicate financial strain, while a lower level might suggest better financial health.
For a prospective Brightstar Care franchisee, this number is an important benchmark when evaluating the overall financial stability of the company. It should be considered in conjunction with the company's assets and equity to gain a comprehensive understanding of its financial position. Reviewing these figures over several years, if available, can also reveal trends and potential areas of concern or strength.
It is also important to note that these liabilities are part of the consolidated financial statements, which include BrightStar Franchising, LLC, and its subsidiaries. Therefore, the liabilities reflect the financial obligations of the entire consolidated group, not just the franchising entity itself.