What was the total amount of operating lease liability obligations for Exit in the earliest fiscal year presented?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
| For the Years Ending December 31 | Amount | |
|---|---|---|
| 2025 | $ 96,182 | |
| 2026 | 63,225 | |
| 2027 | 34,791 | |
| 2028 | 20,184 | |
| 2029 | 9,826 | December 31 |
| 2024 | 2023 | 2022 |
| Operating lease ROU assets, net | $ 98,844 | $ 124,741 |
| Operating lease liability obligations, current | $ 73,113 | $ 66,179 |
| Operating lease liability obligations, less current portion | 169,517 | 242,630 |
| Total operating lease liability obligations | $ 242,630 | $ 308,809 |
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, the total operating lease liability obligations for the year ending December 31, 2022, was $308,809. This figure represents the total amount of Exit's financial commitments related to its operating leases for that year. Operating leases are agreements where Exit rents property or equipment for use in its business operations.
This total operating lease liability is further broken down into two components: the current portion and the less current portion. The current portion, which is $66,179, represents the amount of lease payments due within the next year. The less current portion, which is $242,630, represents the lease payments due beyond the next year. The sum of these two components equals the total operating lease liability obligations of $308,809.
For a prospective Exit franchisee, understanding these lease obligations is crucial. It provides insight into the company's financial commitments and how they manage their lease agreements. Reviewing these figures over several years, as presented in the table, can reveal trends in Exit's leasing strategy and its impact on the company's overall financial health. Franchisees may want to compare these figures to similar companies in the real estate franchise sector to assess Exit's financial practices.