What was the current operating lease liability for Face Foundrie in 2022?
Face_Foundrie Franchise · 2025 FDDAnswer from 2025 FDD Document
| For the year ended December 31, | Rent Payments |
|---|---|
| 2025 | $ 58,952 |
| 2026 | 60,131 |
| 2027 | 61,334 |
| 2028 | 62,561 |
| 2029 | 195,290 |
| & thereafter | |
| Total lease payments | $ 438,267 |
| Less: imputed interest | (94,473) |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 73)
What This Means (2025 FDD)
According to Face Foundrie's 2025 Franchise Disclosure Document, the company's current operating lease liability for 2022 was $29,204. This figure represents the portion of Face Foundrie's total lease obligations due within the next year..
Operating lease liabilities arise from lease agreements for assets like office space or equipment. These liabilities reflect Face Foundrie's commitment to make future lease payments. The current portion specifically indicates the amount due within the upcoming 12 months, while the non-current portion covers obligations extending beyond that period.
For a prospective Face Foundrie franchisee, understanding these lease liabilities is crucial. It provides insight into the company's financial obligations and how they manage their lease commitments. Reviewing the trend of these liabilities over the years (2022-2024) can also reveal how Face Foundrie's leasing strategy and obligations are evolving. This information, combined with other financial data, helps potential franchisees assess the financial stability and management practices of Face Foundrie.