What were the contract liabilities for Crave Cookies in 2021?

According to Crave Cookies' 2025 Franchise Disclosure Document, contract liabilities represent the company's obligation to transfer goods or services to a customer when consideration has already been received. These liabilities consist of deferred franchise fee revenues on the balance sheets.

The FDD includes a definition of contract liabilities, explaining that they consist of deferred franchise fee revenues. This means that Crave Cookies recognizes revenue over time as it fulfills its obligations to franchisees, rather than recognizing the entire franchise fee upfront. The franchise fee is typically paid upon execution of the franchise agreement, and the revenue is deferred until certain revenue recognition criteria have been met.

While the FDD defines contract liabilities and how Crave Cookies handles revenue recognition, it does not specify the exact amount of contract liabilities the company held in 2021. A prospective franchisee would need to inquire with Crave Cookies directly to obtain the specific figure for contract liabilities in 2021 to understand the company's financial obligations at that time.