What was the total value of Brightstar Care's long-term liabilities as of December 29, 2024?
Brightstar_Care Franchise · 2025 FDDAnswer from 2025 FDD Document
| December 29, 2024 | December 31, 2023 | ||
|---|---|---|---|
| Assets | |||
| Current Assets | $ | 2,447,666 | $ 267,218 |
| Cash and cash equivalents | |||
| Accounts receivable, net of allowances for credit losses | |||
| of $773,024 and $213,282, respectively | 6,195,961 | 5,986,114 | |
| Prepaid expenses | 1,711,449 | 1,782,560 | |
| Other current assets | 148,277 | 435,628 | |
| Total Current Assets | 10,503,353 | 8,471,520 | |
| Property and Equipment, Net | 9,212,844 | 8,551,823 | |
| Other Long-Term Assets Operating lease - right-of-use asset Notes receivable - affiliated companies, net | 1,576,830 10,531,865 | 137,232 7,287,629 | |
| Total Other Long-Term Assets | 12,108,695 | 7,424,861 | |
| Total Assets | $ | 31,824,892 | $ 24,448,204 |
| Liabilities and Member's Equity | |||
| Current Liabilities Accounts payable Accrued salaries and payroll tax Operating lease liability Other current liabilities | $ | 667,611 3,548,509 58,782 2,744,210 | $ 1,993,783 3,310,197 77,343 3,026,086 |
| Total Current Liabilities | 7,019,112 | 8,407,409 | |
| Long-Term Liabilities | 1,716,558 | - | |
| Operating |
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 long-term liabilities as of December 29, 2024, amounted to $1,716,558. This figure primarily consists of the operating lease liability, net of the current portion. In contrast, the FDD indicates that the total long-term liabilities as of December 31, 2023, were $0.
For a prospective Brightstar Care franchisee, understanding the franchisor's liabilities can provide insights into the financial stability and obligations of the company. Long-term liabilities, such as operating lease liabilities, represent financial obligations extending beyond the current year. These liabilities can impact the franchisor's financial flexibility and ability to support its franchisees.
It's important to note that the increase in long-term liabilities from 2023 to 2024 is due to operating lease liabilities. Franchisees should consider these figures in the context of Brightstar Care's overall financial health and consult with a financial advisor to assess the potential implications for their investment.