What was the net value of Cinnabon's assets held for lease as of December 29, 2024?

According to Cinnabon's 2025 Franchise Disclosure Document, the net value of assets held for lease as of December 29, 2024, was $261. This figure represents the value of assets, primarily satellite SBRs (Small Business Restaurants) that Cinnabon leases to some franchisees under month-to-month operating lease agreements, after accounting for accumulated depreciation. The original value of these assets held for lease was $4,794, but accumulated depreciation reduced the net value.

For a prospective Cinnabon franchisee, this indicates that Cinnabon engages in leasing properties to franchisees, particularly for satellite locations. The depreciation of these assets is also tracked, affecting their net value on Cinnabon's balance sheet. The depreciation expense for these leased assets was $136 for the fiscal year ended December 29, 2024.

It's important to note that the assets held for lease are largely comprised of satellite SBRs. These are smaller, often non-traditional Cinnabon locations. The company depreciates these assets over time, as reflected in the accumulated depreciation. The net value provides a snapshot of the remaining book value of these leased assets at a specific point in time.

Understanding the nature and depreciation of these assets can be useful for potential franchisees, especially those considering leasing a satellite SBR from Cinnabon. It provides insight into Cinnabon's investment in these leased locations and how their value is managed over time.