What was the total liabilities amount for Floors To Go as of December 31, 2022?

According to Floors To Go's 2025 Franchise Disclosure Document, the company's total liabilities as of December 31, 2022, were $856,940. These liabilities are all classified as current, meaning they are expected to be settled within one year.

The liabilities consist of several components. Accounts payable totaled $15,030, representing short-term obligations to suppliers. A significant portion, $563,149, was due to franchisees under the cashback program, indicating amounts owed to franchisees from customer rebates or similar incentives. Deferred revenue amounted to $51,761, reflecting payments received for services or goods not yet delivered. Accrued expenses totaled $227,000, covering expenses incurred but not yet paid, such as wages, utilities, or taxes.

For a prospective Floors To Go franchisee, understanding the franchisor's liabilities is crucial. A high level of current liabilities relative to assets could indicate financial strain. However, in this case, the largest liability is the cashback program, which is directly tied to sales and franchisee activity. Monitoring the trend and composition of these liabilities can provide insights into the financial health and operational efficiency of Floors To Go.