What was the amount of advances for the Exit franchise territory in Minnesota?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
| December 31, 2022 | ||||
|---|---|---|---|---|
| Available-for-sale | ||||
| Thrivent | $ 60,913 | $ 102 | $ (9,341) | $ 51,674 |
| Balance before | Debt | Balance after | ||
| Restructure | Advances | Reduction | Restructure | |
| Franchise territory – IL | $ 702,045 | $ 277,019 | $ (606,327) | $ 372,737 |
| Franchise territory – MN | 60,106 | 127,745 | (17,430) | 170,421 |
| Franchise territory – WI | 467,232 | 70,518 | (192,906) | 344,844 |
| Franchise territory – MI | 1,088,526 | 46,973 | (458,523) | 676,976 |
| Total | $ 2,317,909 | $ 522,255 December 31 | $ (1,275,185) | $ 1,564,978 |
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, the advances for the Exit franchise territory in Minnesota was $127,745 as of December 31, 2022. This figure represents the amount of advances applied to the Minnesota franchise territory before restructuring.
This information is part of a table that outlines the financial restructuring of several franchise territories. The table provides a snapshot of the financial status of these territories at a specific point in time, detailing the balance before restructuring, advances, debt reduction, and the balance after restructuring.
For a prospective Exit franchisee, this data provides insight into the financial management and restructuring activities of existing territories. Understanding how advances are handled and how debt is managed can be crucial for making informed decisions about investing in an Exit franchise. It's important to note that these figures are from 2022, and current financial conditions may vary.