What were the total current liabilities for Face Foundrie in 2024?
Face_Foundrie Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Liabilities and Member's Deficit | |||
| Current liabilities | |||
| Accounts payable | $ 42,622 | $ 20,074 | $ - |
| Accrued expenses | 39,488 | 31,279 | 63,084 |
| Credit card payable | 19,368 | 22,075 | 9,497 |
| Gift card liability | 2,434,596 | 1,468,430 | 712,736 |
| Operating lease liability, current | 58,952 | 32,486 | 29,204 |
| Deferred revenue, current | 819,881 | 447,000 | 131,147 |
| Total current liabilities | 3,414,907 | 2,021,344 | 945,668 |
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 total current liabilities in 2024 were $3,414,907. This figure represents the sum of Face Foundrie's obligations due within one year, including accounts payable, accrued expenses, credit card payable, gift card liability, current operating lease liability, and current deferred revenue.
For a prospective Face Foundrie franchisee, understanding the current liabilities is crucial as it provides insight into the company's short-term financial obligations. A high level of current liabilities relative to current assets could indicate potential liquidity issues, which might affect Face Foundrie's ability to support its franchisees or invest in future growth.
It is important to note that the current liabilities are part of a broader financial picture. Franchisees should also review Face Foundrie's balance sheets for 2023 and 2022 to identify trends and assess the company's overall financial stability. Additionally, comparing these figures to industry benchmarks can provide a more comprehensive understanding of Face Foundrie's financial health.