When does the Cd One Price Cleaners office space lease agreement expire?
Cd_One_Price_Cleaners Franchise · 2025 FDDAnswer from 2025 FDD Document
against royalty/license fees revenue in the statements of income. Rebates earned but not yet credited to the franchisees totaled $197,854 at December 27, 2024 ($186,120 at December 29, 2023).
7. Operating Leases
The Company entered into a lease agreement dated September 14, 2022, for new office space. The lease has a commencement date of January 20, 2023, and an expiration date of November 30, 2030. The monthly rent is abated for the first full ten months after the commencement date, after which monthly payments range from $4,375 to $5,105. Upon commencement of the lease, the Company recognized a right-of-use asset and lease liability of $338,291.
Operating lease cost is recognized on a straight-line basis over the lease term and is included in amortization of lease liability and
Source: Item 22 — Contracts (FDD page 72)
What This Means (2025 FDD)
According to Cd One Price Cleaners's 2025 Franchise Disclosure Document, the company entered into a lease agreement for new office space on September 14, 2022. The lease commenced on January 20, 2023, and is set to expire on November 30, 2030.
During the first ten months after the commencement date, Cd One Price Cleaners benefited from abated monthly rent. Following this period, the monthly payments range from $4,375 to $5,105. Upon the lease's commencement, the company recognized a right-of-use asset and lease liability of $338,291.
Operating lease costs are recognized on a straight-line basis over the lease term, included in amortization of lease liability and lease interest expense on the statement of income. For the year ended December 27, 2024, the operating lease cost was $46,935. Cash outflows for operating leases totaled $52,070.