What was the total amount of notes payable for Exit in the most recent fiscal year?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
, payable in monthly installments ranging from $1,177 to $1,900 through September 2033. Interest accrues on the note at 3.00% per annum. Note dated August 1, 2021 and subsequent
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, the total notes payable for the year ending December 31, 2024, was $1,592,382. This amount is further broken down into current and non-current portions. The current portion, representing notes payable due within one year, was $149,748, while the non-current portion, consisting of notes payable due beyond one year, was $1,442,634.
These notes payable consist of several loans, including those from Exit Realty Corp. International for franchise territories and a U.S. Small Business Administration note. The notes from Exit Realty Corp. International are related to financing for franchise territories in Wisconsin, Minnesota, Michigan, and Illinois, each with specific amounts, interest rates, and payment terms. The SBA note is related to economic injury caused by a disaster and is payable in monthly installments.
Prospective franchisees should be aware of the obligations Exit has and how these debts are structured. Understanding the terms of these notes, such as interest rates and maturity dates, is crucial for assessing the financial health and stability of the franchisor. This information can help franchisees evaluate the level of support and resources Exit can provide, as well as the potential risks associated with investing in the franchise.