What was the balance for Crave as of December 31, 2021?
Crave Franchise · 2025 FDDAnswer from 2025 FDD Document
| Current liabilities: | |||
|---|---|---|---|
| Accounts payable | $ 159,707 | $ 54,648 | $ 36,368 |
| Accrued payroll | 20,982 | 7,292 | 8,104 |
| Other current liabilities | 36,262 | 1,109 | - |
| Deferred revenue - franchise | |||
| sales, current portion | 925,000 | 935,000 | 1,225,000 |
| Total current liabilities | 1,141,951 | 998,049 | 1,269,472 |
For the years ended December 31, 2024, 2023, and 2022 CRAVE FRANCHISING, LLC STATEMENTS OF CHANGES IN MEMBER'S E
Source: Item 23 — RECEIPTS (FDD pages 63–253)
What This Means (2025 FDD)
According to Crave's 2025 Franchise Disclosure Document, the balance as of December 31, 2021, was a deficit of $204,262. This figure represents the overall financial standing of Crave at the close of that year. It also indicates that member contributions were not made during this period. However, member distributions amounted to $446,770, and the net income was $156,662.
For a prospective franchisee, this historical financial data offers insights into the financial management and performance of Crave. Understanding the balance, member contributions and distributions, and net income/loss can help in assessing the financial stability and growth trajectory of the franchise system. It's important to note that past performance is not necessarily indicative of future results, but it provides a baseline for evaluation.
It would be prudent for potential franchisees to further investigate the factors contributing to these financial results. Understanding the reasons behind the deficit, the nature of member distributions, and the sources of net income can provide a more comprehensive understanding of the financial health of Crave. This information, combined with other due diligence efforts, can aid in making an informed decision about investing in a Crave franchise.