What was the amount Craters & Freighters spent on rent for the year ended December 31, 2021?
Craters_Freighters Franchise · 2025 FDDAnswer from 2025 FDD Document
due under the lease contracts include fixed payments.
Information on the operating lease as of and for the years ended December 31, 2023 and 2022, is as follows:
| As of December 31, | 2023 | 2022 |
|---|---|---|
| Lease cost: | ||
| Operating Lease Cost | $ 59,437 $ | 85,687 |
| Variable Lease Costs | 34,706 | 22,146 |
| Total Lease Costs | $ 94,143 | 107,833 |
| Remaining Lease Term | 2.75 Years | 3.75 Years |
| Discount Rate | 1.04 % | 1.04 % |
| Cash paid for amounts included in the measurement of lease liabilities for the years ended December 31, 2023 | ||
| and 2022, is as follows: | ||
| 2023 | 2022 | |
| Operating Cash Flows from Operating Leases | $ 75,513 $ | 73,473 |
| Maturities of lease liabilities are as follows as of December 31, 2023: | ||
| Year |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 49)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, the specific amount Craters & Freighters spent on rent for the year ended December 31, 2021, is not explicitly detailed. However, the FDD includes financial statements and related notes that provide information on lease costs for the years 2023 and 2022. These include operating lease costs and variable lease costs. Also included are cash payments for amounts included in the measurement of lease liabilities. These figures could be useful for a prospective franchisee to understand the nature and magnitude of lease-related expenses.
Specifically, the provided excerpts include a table outlining lease costs, remaining lease terms, discount rates, and cash paid for lease liabilities for 2023 and 2022. While these figures do not directly answer the question about the rent expense for 2021, they offer insight into the company's leasing obligations and related cash flows in more recent years. Understanding these costs is crucial for assessing the financial health and stability of Craters & Freighters.
To obtain the specific figure for rent expenses in 2021, a prospective franchisee should directly inquire with Craters & Freighters' management. Requesting historical financial data, including detailed income statements for the relevant years, will provide a clearer picture of the company's past rental expenses. This information is essential for conducting thorough due diligence and making informed financial projections about the potential franchise investment.