What was the interest paid by Dryject in 2022?
Dryject Franchise · 2025 FDDAnswer from 2025 FDD Document
Note 4 - Long-term debt - As stated in Note 3, the Company reports 75% of the debt for the purchase on its books.
The Company has adopted the requirements in FASB ASC 835-30 to present debt issuance costs as a reduction of the carrying amount of the debt rather than as an asset. Amortization of the debt issuance costs is reported as interest expense in the statement of income and member's capital.
Source: Item 8 — BUSINESS RELATIONSHIP (FDD pages 68–229)
What This Means (2025 FDD)
Based on the 2025 Dryject Franchise Disclosure Document, the specific amount of interest paid by Dryject in 2022 is not explicitly disclosed. However, Note 4 regarding long-term debt mentions that the amortization of debt issuance costs is reported as interest expense in the statement of functional expenses or the statement of income and member's capital.
To determine the exact interest paid, a prospective franchisee would need to review Dryject's financial statements for the year ending December 31, 2022. These statements, which include the statements of income and member's capital, would provide a detailed breakdown of expenses, including interest expenses related to long-term debt and the line of credit.
Without this level of detail, it is impossible to determine the precise interest paid by Dryject in 2022. Therefore, it is recommended that potential franchisees request these financial statements from Dryject during their due diligence process to gain a clear understanding of the company's financial obligations and performance.