What were the professional fees payable for Face Foundrie as of December 31, 2022?
Face_Foundrie Franchise · 2025 FDDAnswer from 2025 FDD Document
| Accrued expenses as of December 31, 2024, 2023 and 2022 consist of the following: | ||||||
|---|---|---|---|---|---|---|
| 2024 | 2023 | 2022 | ||||
| Reimbursement payable | $ | - | $10,049 | $ | - | |
| Professional fees payable | 23,265 | 21,230 | 5,495 | |||
| Accrued payroll | 16,223 $39,488 | $31,279 | - $63,084 | 57,589 |
Source: Item 23 — RECEIPTS (FDD pages 74–257)
What This Means (2025 FDD)
According to Face Foundrie's 2025 Franchise Disclosure Document, the professional fees payable as of December 31, 2022, were $5,495. This figure represents the amount Face Foundrie owed for professional services rendered but not yet paid as of that date. Accrued expenses, including professional fees, are liabilities on the company's balance sheet, reflecting short-term obligations.
For a prospective franchisee, understanding these figures provides insight into Face Foundrie's financial obligations and how they manage their expenses. While this specific figure may not directly impact a franchisee's operations, it contributes to the overall financial health assessment of the franchisor. A consistent and manageable level of accrued professional fees can indicate sound financial management.
It's important to note that these are the franchisor's expenses, not the franchisee's. However, the franchisor's financial stability can affect the support and resources available to franchisees. Therefore, reviewing these figures in conjunction with other financial data in the FDD can offer a more comprehensive view of the franchisor's financial standing.