According to Brueggers Bagels's 2025 Franchise Disclosure Document, the total mezzanine equity as of December 31, 2024, was $36,089. The document also specifies that this entire amount is classified under Level 3 assets.

Mezzanine equity typically refers to a hybrid of debt and equity financing, often used to fund expansion or acquisitions. For a prospective Brueggers Bagels franchisee, this figure provides insight into the financial structure of the company. It indicates the level of complex financial instruments Brueggers Bagels utilizes, which can reflect their growth strategy and financial sophistication.

It's important for potential franchisees to understand the implications of mezzanine equity, as it can affect the overall financial health and stability of Brueggers Bagels. While the FDD provides this specific figure, further investigation into the nature of this equity, its terms, and its potential impact on the franchise system would be prudent for any prospective franchisee.