What was the current operating lease liability for Face Foundrie in 2023?
Face_Foundrie Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Operating lease liability, current | $58,952 | $32,486 | $29,204 |
| Operating lease liability, non-current | 284,843 | 343,795 | 376,281 |
| $343,795 | $376,281 | $405,485 |
Source: Item 23 — RECEIPTS (FDD pages 74–257)
What This Means (2025 FDD)
According to Face Foundrie's 2025 Franchise Disclosure Document, the company's current operating lease liability was $32,486 in 2023. This figure represents the portion of lease obligations due within the next year. In addition to the current operating lease liability, Face Foundrie also had a non-current operating lease liability of $343,795 in 2023, which represents lease obligations due beyond one year.
For a prospective franchisee, understanding these lease liabilities can provide insight into the financial obligations Face Foundrie has undertaken for its corporate operations. While this doesn't directly translate to a franchisee's potential lease obligations, it can be used as a benchmark when negotiating their own leases. Franchisees should consult with financial advisors to understand the implications of lease liabilities for their own businesses.
It's important to note that these figures reflect Face Foundrie's corporate liabilities and not the individual financial obligations that a franchisee would incur when leasing a location for their own Face Foundrie Facial Bar. Franchisees will need to conduct their own due diligence and financial planning to determine their specific lease obligations and how they will impact their profitability.