What is the total deferred revenue for open SBRs for Cinnabon?

According to Cinnabon's 2025 Franchise Disclosure Document, the deferred revenue for open SBRs (Small Business Restaurants) is $32,440 as of December 29, 2024. This figure represents revenue that Cinnabon has received but not yet recognized, as the performance obligations related to those revenues are still being satisfied. In this case, the performance obligations relate to franchise agreements for open Cinnabon stores. The deferred revenue will be recognized over time as Cinnabon fulfills its obligations under these franchise agreements.

The FDD also provides a breakdown of when Cinnabon expects to recognize this deferred revenue. For example, $3,348 is expected to be recognized in 2025, $2,875 in 2026, $2,730 in 2027, $2,563 in 2028, and $2,335 in 2029, with the remaining $18,589 to be recognized thereafter. This schedule gives prospective franchisees an idea of Cinnabon's revenue recognition timeline for its franchise operations.

It's important to note that this figure only accounts for open SBRs. The FDD also mentions deferred revenue associated with unopened SBRs, which is not included in this total. Understanding the difference between deferred revenue for open and unopened locations can help a potential franchisee better assess Cinnabon's financial position and future revenue streams. Reviewing these figures allows for a more comprehensive understanding of the franchisor's financial health.