What was the weighted-average remaining lease term for Card My Yard as of December 31, 2023?
Card_My_Yard Franchise · 2025 FDDAnswer from 2025 FDD Document
----------------------------------------------|---------------| | Operating | $ 104,088 | | lease | | | cost | | | Other | | | information: | | | Cash | | | paid | | | for | | | amounts | | | included | | | in | | | the | | | measurement | | | of lease liabilities: | | | Operating | $ 105,602 | | cash | | | flows |
Source: Item 23 — RECEIPTS (FDD pages 84–259)
What This Means (2025 FDD)
According to Card My Yard's 2025 Franchise Disclosure Document, as of December 31, 2023, the remaining lease payments to be paid in 2024 totaled $26,400, which includes $17 of imputed interest. This provides for a present value of lease liabilities of $26,383 as of the same date.
This information indicates Card My Yard had lease obligations extending into the following year. However, the document does not specify the weighted-average remaining lease term. The disclosure focuses on the total lease payments due in 2024 and the present value of these liabilities, rather than the duration of the lease agreement(s).
A prospective Card My Yard franchisee should inquire with the franchisor about the typical lease terms for locations that are not home-based, and how these terms might affect the franchisee's financial obligations and business planning. Understanding the length and conditions of lease agreements is crucial for assessing the long-term viability and profitability of a Card My Yard franchise.